Which accounts can I transfer?
You can transfer your Registered Pension Plan (RPP), Defined Contribution Pension Plan (DCPP), and Deferred Profit Sharing Plan (DPSP) to your Wealthsimple account so long as your employer is no longer making contributions to the plan. If you are unsure about if you can transfer your account to Wealthsimple, please contact us so that we can help out!
Do I transfer to an RRSP or LIRA?
If the funds in your employer plan are "locked in" they'll need to be transferred into a Wealthsimple LIRA account. You can open a new LIRA on the Add Account Page. You will want to ensure that the jurisdiction of the LIRA you open at Wealthsimple is the same as your existing account holding your pension funds. If the funds aren't locked in, they can be transferred into your RRSP.
What transfer documents do I need to complete?
We'll handle this for you unless you have been instructed to initiate the transfer your end. Just fill out this form and we'll reach out to you to sign off or to explain the process (if it's a bit more complex!).
If you are going to be initiating the transfer on your end, all the information required for a pension transfer should be outlined in a pension transfer package you may have received from your employer. If you haven't received a pension transfer package please contact your employer to request this package. If they don't provide you with a package, we can move forward using a T2151 form. The T2151 form is the transfer form specifically for pension transfers, which is attached to the bottom of this article can be completed using the information below.
If your employer doesn't provide a transfer package and specifies that you don't require a T2151 you can complete your transfer by following this guide.
Important details to help you complete the transfer documents:
Make sure to list "Canadian ShareOwner Investments" as the receiving institution. This is our back office. Their information is as follows if needed:
Name of Receiving Institution: Canadian Shareowner Investments Inc
Address: 862 Richmond St W #201, Toronto, ON M6J 1C9
Specimen Plan Number/CRA Registration Number: RSP 521-145
Your CRA registration number can be found on your statement as well as your plan number.
Note: if you are completing the T2151 and are transferring into a LIRA, in Part D, please select the first option on the left. Then on the line that reads "RRSP plan number and name" please put your Wealthsimple LIRA account number followed by "LIRA".
You can find the account number for your LIRA or RRSP at any time in the My Documents section of our website. They are listed in each of your trade confirmations, monthly statements, and Investor Policy Statement.
If you require any further assistance with this process please contact us.