Earn a cash bonus when your employer transfers its group plan to Wealthsimple

Overview

If your employer transfers its group plan to Wealthsimple, you may be eligible for a cash bonus based on the value of your transferred funds. The bonus percentage is set out in your employer's agreement with Wealthsimple, and there's no need to apply: if you meet the eligibility requirements below, you'll receive it automatically.

Eligibility

To be eligible for this bonus, you need to:

• be linked to an employer (Plan Sponsor) that has signed a service agreement with Wealthsimple Business that includes this bonus
• be a participating member of your Wealthsimple Business group plan at the time your transferred funds are received from your previous group plan
• have opened, and hold in good standing, a Wealthsimple account of the same registration type as the funds being transferred
• be a legal resident of Canada
• be the age of majority or older in your province or territory of residence

Important things to know

• Your transferred funds are valued as of the date Wealthsimple receives them, net of applicable fees (including transfer fees and foreign exchange fees).
• If your transferred funds are in US currency, your bonus is calculated using the exchange rate on the date Wealthsimple receives them. All bonuses are paid in Canadian dollars.
• Your bonus is non-transferrable and can't be applied retroactively. Once your employer's percentage has been communicated to you, it won't be reduced retroactively.
• Your bonus is paid only into your non-registered chequing account. It's never contributed to, or deposited into, a registered plan or locked-in account, even if a registered or locked-in account is part of your transferred funds.
• This bonus can't be combined with any other Wealthsimple promotion that awards a bonus, match, reward, or contest entry for depositing or transferring assets into a Wealthsimple account. It can be combined with other Wealthsimple promotions that aren't transfer-related, unless those promotions state otherwise.
• You're limited to one bonus.

How to receive your bonus

• You don't need to apply. If you meet the eligibility requirements, your bonus is applied automatically.
• You need a Wealthsimple chequing account in good standing to receive your bonus. If you don't have one yet, you'll have 90 days from your first notification to open one.
• Your bonus is applied to your chequing account within 60 days after your full transferred amount has settled in your Wealthsimple account.
• All your Wealthsimple accounts must be in good standing at the time your bonus is applied.

What counts toward the hold period

If you withdraw or transfer out more than 20% of your cumulative transferred amount within 365 days of enrolling in your Wealthsimple plan, Wealthsimple may recover your bonus.

Frequently asked questions

Terms and conditions

Wealthsimple Business - Group Plan Transfer Bonus (the "Promotion")

This Promotion is sponsored by Wealthsimple Technologies Inc. (together with its affiliates "Wealthsimple").

Promotion Period. This Promotion is ongoing and has no fixed end date. Wealthsimple may modify, suspend or terminate it at any time. This Promotion applies only to the one-time bulk transfer of a group plan to Wealthsimple (the "Bulk Transfer") provided for in, or otherwise communicated to eligible Clients under, the applicable service agreement between the Client's employer and Wealthsimple that includes this Promotion (the "Sponsor Agreement").

Eligibility. To be eligible for the Promotion, the person must, at the time of participation, including when the Bonus is awarded:

• be linked to a Plan Sponsor (employer) that has signed a service agreement with Wealthsimple Business, which includes the Promotion clause;
• be a participating member of the Wealthsimple Business group plan at the time the transferred funds are received from the Plan Sponsor's prior group plan;
• have opened, and hold in good standing, a Wealthsimple account of the same registration type as the funds being transferred, so that those funds can be deposited into the Client's Wealthsimple account on receipt;
• be a legal resident of Canada;
• be the age of majority, or older, in their province/territory of residence; and
• meet the requirements set out below.

(the "Client").

Bonus. All eligible Clients will receive a cash bonus (the "Bonus") calculated based on the percentage set out in the applicable Sponsor Agreement of the market value of the amount transferred into the Client's Wealthsimple account(s) from their existing Group Plan as part of the Bulk Transfer, up to a maximum of $25,000,000 per cumulative Group transfer amount and $5,000,000 per Client ("Qualifying Amount"). To qualify as the Qualifying Amount, the amount transferred must form part of the Bulk Transfer. The market value of the Qualifying Amount is calculated as of the date on which Wealthsimple receives the Qualifying Amount, net of any applicable fees, including but not limited to, transfer fees and foreign exchange fees. Where a Qualifying Amount is in US currency, the Bonus will be calculated based on the market value at the exchange rate as of the date to which Wealthsimple receives the Qualifying Amount. All Bonuses will be paid in Canadian currency.

This Bonus is non-transferrable, and cannot be applied retroactively. The Bonus remains subject to change, at Wealthsimple's sole discretion; provided that, once the applicable percentage has been communicated to a Client, that percentage will apply to that Client's Qualifying Amount and will not be reduced retroactively.

For greater certainty, the Bonus is paid solely to the Client's non-registered Chequing account and is not contributed to, or deposited into, any registered plan or locked-in account. Inclusion of a registered or locked-in account in the Qualifying Amount affects only the calculation of the Bonus; it does not result in any payment into that account.

Hold Period. Unless specified herein, if a Client withdraws or transfers out more than 20% of the cumulative Qualifying Amount (the "Withdrawal Limit") within 365 days after the date they are enrolled in the Wealthsimple Plan, Wealthsimple may recover the Bonus as set out below. Nothing in this Promotion restricts a Client's right to withdraw from or transfer any registered or other account. If a Client exceeds the Withdrawal Limit, the Bonus may be deducted from the Chequing account to which the Bonus was applied, from their final withdrawal amount, or otherwise recovered by Wealthsimple. Any missed or ceased Bonus will be considered forfeited and will not be awarded. Negative fluctuations in the Qualifying Amount solely due to market conditions will not be counted towards the Withdrawal Limit. Transfers between the Client's Plan and their own Wealthsimple account(s), and withdrawals of any profits, dividends, interests or benefits otherwise derived from the Qualifying Amount will be counted towards the Withdrawal Limit.

Application of Bonus. In order to receive the Bonus, the Client must have a Wealthsimple Chequing ("Chequing") account that is in good standing. Clients who do not have a Chequing account by the time a Bonus is issued will have ninety (90) days upon the first Chequing account opening requirement notification to open a Chequing account. Any Bonus not applied to a Chequing account will expire after ninety (90) days of issuance and any expired Bonus will be considered forfeited by the Client. Wealthsimple is not liable for any forfeited Bonus and any forfeiture will not be reissued.

The Bonus will be applied to the Client's Chequing account(s) within sixty (60) days after the full Qualifying Amount has settled in the Client's Wealthsimple account(s). All Wealthsimple account(s) must be in good standing at the time the Bonus is applied.

Limit one (1) Bonus per Client. This Bonus is non-transferrable, and cannot be applied retroactively.

Tax Implications. There are tax implications to bonuses and rewards of this nature in most instances. Please consult with an accountant or tax professional for additional guidance. Wealthsimple will not be issuing clients a tax slip to report Bonuses paid to a non-registered account. Clients are solely responsible for any required tax reporting.

Combinability. This Promotion cannot be combined with any other Wealthsimple promotion, offer or promotion code under which a bonus, match, reward or contest entry is earned by depositing or transferring assets into a Wealthsimple account (each, a "Transfer Promotion"). This Promotion may be combined with any Wealthsimple promotion, offer or promotion code that is not a Transfer Promotion, unless the terms of that promotion provide otherwise.

Where the Client registered for a Transfer Promotion before the Bulk Transfer, the Qualifying Amount will count towards this Promotion only and will not count towards that Transfer Promotion.

Where the Client registers for a Transfer Promotion after the Bulk Transfer, the Qualifying Amount will continue to count towards this Promotion only, and the terms of that Transfer Promotion will govern the treatment of any other deposits or transfers.

Currency. All currency shown in these terms and conditions are in Canadian dollars.

Release. By participating in the Promotion, Client assumes all risk of injury, illness, disease, death, or any other damage which may arise in connection with their participation in the Promotion. Without limiting the foregoing, client hereby: (a) forever releases and discharges Wealthsimple and its parent companies, subsidiaries, affiliates, related and associated entities and employees, directors, officers, suppliers, agents, sponsors and administrators of each (collectively, the "Releasees"), from and against any and all claims, actions, costs, liabilities, judgments, damages, obligations, losses, penalties, and expenses of any kind or nature whatsoever (including legal fees) in any way arising directly or indirectly out of any injury, loss, or damage that the Client may suffer as a result of, or in connection with the participation in the Promotion or any promotion-related activity, including the posting of the Bonus in their Wealthsimple account and subsequent use of the Bonus; and (b) indemnifies, defends and holds harmless the Releasees from and against any and all damages, loss and expenses, including legal fees, which may be suffered directly or indirectly by reason of the Client's own negligence or willful misconduct during or in connection with their participation in the Promotion.

General. Wealthsimple is the sole arbiter of these rules and any other issue arising under the Promotion. If Wealthsimple suspects fraudulent or abusive behaviour, gaming of the system, inappropriate, offensive or derogatory language or information or a violation of these terms, as determined in Wealthsimple's sole and absolute discretion, Wealthsimple reserves the right to remove all promotions from the Wealthsimple account(s) and take any other action it deems appropriate including, but not limited to, removing the Bonus or closing the Wealthsimple account(s). This Promotion cannot be used in conjunction with any other promotional offer, unless specified herein. An invitation to participate in this Promotion does not provide assurance that you will be accepted as a customer of Wealthsimple. This Promotion is only valid for individuals in the location cited above that otherwise meet our eligibility requirements. The standard terms (https://www.wealthsimple.com/en-ca/legal/terms) relating to the use of Wealthsimple and any agreements that apply to the Wealthsimple account(s) each apply and are not affected in any way by this offer.

In the event of any discrepancy or inconsistency between the terms and conditions of the Promotion and disclosures or other statements contained in any related materials, including but not limited to the point of sale, print or online advertising, the terms and conditions of the Promotion shall prevail, govern and control.

Our Wealthsimple Business and Invest products are offered by Wealthsimple Investments Inc. ("WSII"), a registered investment dealer in each province and territory of Canada and a member of the Canadian Investment Regulatory Organization ("CIRO"). Your account assets are held with WSII. Customer accounts held at WSII are protected by the Canadian Investor Protection Fund ("CIPF") within specified limits in the event WSII becomes insolvent; a brochure describing the nature and limits of coverage is available upon request or at CIPF.