In this article:
Overview
When your employment status changes, what happens to your group savings plan depends on your specific situation and your employer's policies. This article covers common scenarios like taking a leave of absence, retiring, or leaving your employer.
Frequently asked questions
What happens to my plan if I go on a leave of absence?
Your employer decides if you can continue to contribute to your group savings program while on a leave of absence. We recommend contacting your employer or plan administrator for more details on their specific policy.
What happens to my plan if I retire?
When you retire, your Group RRSP will automatically roll over into a personal Wealthsimple RRSP.
What happens to my plan if I leave my employer?
When you leave your employer, they will end your participation in the group plan. Your Group RRSP will automatically roll over into a personal Wealthsimple RRSP. For all other group account types, you will need to contact our support team to transition them to personal accounts.
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