Personal Support Worker Retirement Savings Innovation Program
$30,000,000.00
Grant
Description:
The Department is accepting applications from organizations interested in receiving funding from the new Personal Support Worker Retirement Savings Innovation Program (PSW-RSIP). Eligible organizations can apply for funding between $1 million and $30 million. Projects must operate for 24 months over the 2026 and 2027 calendar years. The objective of this CFC is to invite eligible organizations to submit applications that outline concepts for pilot projects focused on retirement savings incentives targeted at PSWs lacking workplace retirement security coverage. The program seeks to help the government test various approaches for encouraging private retirement savings among personal support workers and evaluate the most effective parameters. Additionally, it aims to enhance the financial security of participating PSWs in preparation for retirement and support their retention in the long-term care sector.
Comments on Funding:
Considerations will be given to proposals that help achieve the following objectives:
achieving a diversity of projects in terms of savings mechanisms, and incentives structures and parameters
supporting diverse models to reach the ultimate recipients and administer the pilot projects
achieving diversity in the types of initial and ultimate recipients (the PSWs). Where projects are otherwise comparable in terms of their overall merit, preferred initial contribution recipient will be not-for-profit organizations and preferred ultimate contribution recipients will be those with lower income
achieving the greater geographical coverage possible across Canada; and
seeking official language representation across Canada
Applications are closed. Stay tuned for future intake announcements.
Eligibility:
Applicants must be:
1. not-for-profit organizations
2. for-profit organizations
a. For-profit organizations may be eligible initial recipient provided that the nature and intent of the activity funded is non-commercial, not intended to generate profit, and supports program priorities and objectives
3. unions
4. boards of trade
5. industry association
6. cooperatives
7. indigenous organizations, including band councils, tribal councils, and self government entities; and
8. 2SLGBTQIA+ organizations
Application Steps:
Applicants must submit application:
1. By email
Email your application to edsc.pssp-psw.esdc@hrsdc-rhdcc.gc.ca by 3:00 pm Eastern Standard Time on January 24, 2025.
If, instead of submitting a concept, you are submitting a full proposal ready for implementation at this stage, use the following naming convention in the subject line of your email: “Ready for implementation full proposal-PSW-Organization Name”.
You will receive a confirmation of receipt by email within 48 hours.
or
2. By mail
Your application must be postmarked on or before 3:00 pm Eastern Standard Time on January 24, 2025. Your application should be mailed to the address below.
Personal Support Worker Retirement Savings Innovation Program
Coordination Unit Mailstop 402
National Grants & Contributions Delivery Centre (ESDC)
140 Promenade du Portage, Phase IV, 4th Floor
Gatineau QC K1A 0J9
If you submit your application by mail, you will receive an acknowledgment by email within 14 days of its receipt. The acknowledgment will be sent to the email address provided in your application.
Documentation Needed:
Applicants must submit:
1. Application form
2. Attestation (Part 4 of the application form)
3. Canada Revenue Agency (CRA) document for proof of organization type and status (the document should contain your CRA number and organization legal name with valid address)
a. note that Indigenous organizations are not required to provide a CRA document for proof of organization type and status
Other Things to Note:
About the author
Maurice