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Group plans

The simplest way to help your employees save for the future

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Fully personalized

Unlike pre-built mutual funds, our customizable portfolios are built around each employee’s needs and risk levels.

Low fees

Our portfolios are built around Exchange Traded Funds (ETFs), so most employees pay less than 1% in fees.

Effortless automation

With a simple (and lovely) dashboard that integrates with your HR systems, onboarding is seamless and efficient.

83%+

average plan participation

1 in 3

plan members already use Wealthsimple

4M+

Canadians trust us with their finances

Report

5 ways to build a group plan for the next generation. Right now.

Join us live on September 29 at 2pm ET, as we share insights from 1,460 younger professionals on what they actually want from their group savings plan, and how the top employers are making it happen.

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Expert-built portfolio options for your employees

Classic portfolio

A diversified mix of low-fee ETFs across a range of asset classes and geographies.

Target date portfolio

A portfolio that dynamically adjusts to each members timelines, helping them retire richer.

Group savings accounts for any goals

No two employees are the same — that’s why we offer a range of group account types to suit what they’re saving for.

GRRSP

The best account for employees focused on retirement savings.

  • 1

    Contribute up to 18% of last year’s income or a max of $32,490

  • 2

    Reduces your tax bill, and earnings on investments are tax-deferred until withdrawal

GFHSA

The account that helps employees saving for their first home.

  • 1

    Save up to $40,000 with tax-free gains

  • 2

    Contribute up to $8,000 per year

GTFSA

A flexible account perfect for long- or short-term goals.

  • 1

    Contribute a lifetime value of $95,000

  • 2

    Withdraw funds any time without penalty

DPSP

A plan for sharing profits with your team while building their long-term savings.

  • 1

    Contribute the lesser of 18% of last year’s income or 50% of the CRA MP limit

  • 2

    Earning on investments are tax-deferred until withdrawal

Group non-registered

A great option for employees who've maxed out their registered accounts.

  • 1

    No contribution limits or rules to remember

  • 2

    Keep as much or as little in the account as you like

For advisors

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FAQs

What types of group savings plans do you offer?

We currently administer GRRSPs, GFHSAs, GTFSAs, DPSPs and group non-registered accounts. These account types allow you to offer your employees access to tax-efficient, employer-sponsored group savings for any goal.

What sort of employers do you work with?

Our group plans are used by Canadian employers that range from growing companies to well-established organizations who want a modern, digital-first workplace savings program. Our platform is particularly well suited for forward-thinking employers looking for flexible plan design and a strong focus on employee financial wellbeing.

Can I transfer my existing group plan to Wealthsimple?

You are able to transfer your existing plan to Wealthsimple as long as your company has over 50 employees, and we currently support your group plan account type. We have a transfer team that will work with your current provider to make it a fast and painless experience. Transfer times depend on your current provider, but can take an average of 4 to 6 weeks. In most cases, Wealthsimple will cover any transfer fees incurred from moving out of your existing provider. Talk to our team to find out more.

What fees do you charge for a group savings plan?

Employees pay 1% and lower for our selection of portfolios.

For a detailed breakdown of all portfolios and to see what rates your employee might pay, get in touch with the team. There are no hidden fees for transfers, withdrawals or account changes. In fact we will cover the cost of any transfer fees you get charged when you move an existing plan to Wealthsimple.

What’s the onboarding process like?

Once sign off is done electronically, our team will ensure you are comfortable with the platform and performing all key actions. This may include integrating other systems into Wealthsimple for easy and fast data transfer.

With all administrators up and running, we will then invite the rest of your plan members to Wealthsimple where they can electronically set up their accounts.

Any members who are existing Wealthsimple clients will connect their existing account to their group savings plan.