Personal Support Worker Retirement Savings Innovation Program
The Personal Support Worker Retirement Savings Innovation Program (PSWRSIP) will provide funding to eligible initial recipients that are able to provide retirement savings incentives through tax-assisted private savings vehicles to personal support workers (PSWs) without workplace retirement security coverage.
Offered by Employment and Social Development Canada (ESDC)
Amount
Up to $30,000,000
Between $1,000,000 and a maximum of $30,000,000 for a project spread over 24 months in the 2026 and 2027 calendar years
Quick eligibility check
Who can apply
Through this process, ESDC will fund “initial recipients” that will redistribute the contributions funding to the “ultimate recipients”, the PSWs, as retirement savings incentives.
Eligible initial recipients
Eligible applicants also defined as initial recipients that can apply for funding are located in Canada and are:
- not-for-profit organizations
- for-profit organizationsFootnote 1
- unions
- boards of trade
- industry association
- cooperatives
- indigenous organizations, including band councils, tribal councils, and self government entities; and
- 2SLGBTQIA+ organizations
Eligible ultimate recipients
Ultimate recipients must be Personal Support Workers (PSWs) as defined in the program Glossary.
We will screen for eligibility based on whether:
- the application (EMP5688) is received by the deadline: January 24, 2025, at 3:00 pm Eastern Standard Time (EST)
- the application is complete
- the organization is eligible
- the requested funding is not below $1,000,000 and doesn't exceed $30,000,000
- the project must operate and flow funds to PSWs for 24 months over the 2026 and 2027 calendar years
- your proposal defines:
- the structure and parameters of the incentive
- the administration of the pilot project
- the ultimate recipients targeted by the pilot project
- information on how your organization will meet the requirement of providing all services and communications materials in both official languages
Footnote 1
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
About the funding
Between $1,000,000 and a maximum of $30,000,000 for a project spread over 24 months in the 2026 and 2027 calendar years
The maximum amount of incentives that can be provided is $5,000 per participating PSW, per year
Contributions to the concept cannot exceed 100% of eligible expenditures.
Funding will only be provided during Step 2 and not all submitted applications will be selected for funding, as funding is limited. Please note that decisions are final and there is no appeal process.
Show all funding details
Eligible expenditures of initial recipients include:
- incentives provided to ultimate recipients
- subject to a cap on costs of 15% of contributions for not-for-profit organizations and 8% for for-profit organizations:
- salaries,wages and mandatory employment-related costs and benefits paid to staff for the hours working directly on the project
- professional fees related to project activities, such as consultants, audit, technical expertise, facilitation, human resources, translation, and legal costs
- advertising and communication costs
- other reasonable administrative costs incurred for the purpose of administering the pilot project
Eligible activities
The eligible activities of the initial recipients are:
- advertising the project
- enrolling PSWs to participate in the project
- providing incentives to PSWs and making contributions to their tax-assisted savings vehicles
- managing the tax-assisted savings vehicles
- tracking and reporting the performance measurement data
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| AgriScience Program – Projects | Grant, In-Kind Support | Up to $5 million per project and $10 million per applicant over the program's duration (2023 to 2028) | Open |
| Canadian Agricultural Strategic Priorities Program | Grant, Loan | AAFC contribution normally not exceeding $1 million per project, generally not more than $5 million over 5 years for each applicant | Open |
| Science and Technology Internship Program: Green Jobs | Grant | No fixed amount | Open |
| Aboriginal Entrepreneurship Program: Access to Business Opportunities | Grant | Up to $500,000 | Open |
