La Loi RVER a-t-elle augmenté l’épargne des travailleurs au Québec?
We analyze the effect on savings in registered vehicles—including the VRSP itself—of the Voluntary Retirement Savings Plans Act (VRSP) Act, adopted in 2014, and the employer mandate to offer a workplace retirement savings vehicle. We use two identification strategies: a difference-in-differences approach (province × year) and a triple-difference approach (province × public sector × year), both applied to tax return data from the Longitudinal Administrative Databank (LAD). Our results suggest a gradual increase—of up to 4 percentage points—in the share of taxpayers contributing to a registered vehicle as a result of the law’s implementation. We estimate that the contribution rate to these vehicles, as a share of wages, rose by up to 0.6 percentage points. We find a net average increase of 0.4 percentage points in registered savings between 2017 and 2022 attributable to the VRSP Act, with gains concentrated among higher-income workers. We discuss potentialimprovements to better encourage saving among workers who need to save for retirement beyond the public plans.