- Log into your Wealthsimple account and select, 'Add or Transfer an account'
- Select the investment account you're transferring the funds to. The account statement or pension package will help you determine if your pension is locked or unlocked.
- If your funds are unlocked or 0% vested, open an RRSP.
- If your funds are locked or 100% vested, open a LIRA.
- Keep in mind that the jurisdiction of your LIRA account should match your existing pension (this will be the last step of the transfer set-up process).
- On the institution page, select 'I'll provide my info manually' located at the bottom of the page.
- Type in your the name of your financial institution followed by the word “Pension.”
- For example, if your institution is Manulife, you would type “Manulife Pension.”
- Enter the plan number found in your account statement.
- Click 'Yes, it's correct' when the message pops up.
- Enter the the address of the institution you're transferring from. You can find this information on your account statement.
- Select how you would like the funds to be transferred. If you need help deciding if you'd like the funds to be transferred in-cash or in-kind, you can refer to this article.
- Follow the step-by-step process; last step will be to sign and submit.
Once you've set up your transfer, you'll want to follow Step 2. How to complete the T2151 form.
*It's very important that the institution name that you've entered includes the word "Pension". If not, this could delay your transfer.
If you have any questions, please create a request for our support team!