Most employers with Wealthsimple Work allow for one discretionary withdrawal per year and one additional withdrawal if under the Home Buyer’s or Life Long Learning plans.
In the event an employee requests a second withdrawal within a calendar year, a member of the Wealthsimple Work team will email the employee to let them know we require approval by their employer, cc’ing the admin of the account. Once we receive approval from the employer we will process the withdrawal request and inform the employee.
Withdrawals take 5 business days to go through so we encourage employees to plan in advance if they require funds from their GRSP on a specific date.
If you would like to allow your employee's unlimited withdrawals on their account, please reach out to our team at email@example.com and we will make note of that going forward.
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