Yes, as long as your employer allows transfers and/or withdrawals from your GRSP account.
If they do, you can transfer funds from your GRSP into other accounts such as Wealthsimple Trade, Save, or an individual RRSP account on Invest free of charge. Note: You can only transfer funds from a GRSP into the same type of account (GRSP to RRSP vs. GRSP to TFSA or non-registered account). You can also transfer funds from your Wealthsimple Group RRSP to an RRSP account at another financial institution, but transfer fees may apply.
Transfer to Wealthsimple Trade
Transferring your Group RRSP funds into a Wealthsimple Trade RRSP account is a good choice if you’re looking to actively manage your portfolio yourself. To make these types of transfers, contact email@example.com and we can assist you with this.
Transfer to an individual RRSP account on Invest
You can move money from your Group RRSP account into an individual RRSP account through the desktop or web application. Follow the steps listed in this move your money help article.
Transfer to Wealthsimple Save
Follow these steps to move money from your Group RRSP account into an individual RRSP account through the desktop or web application.
- Log into the desktop website and navigate to the Invest page using the dropdown menu at the top left.
- Click Move funds from the left left menu.
- In the Add or move funds tab, select in the From (your Group RRSP account) and To (your Save RRSP account) information for your transfer, as well as the amount.
- Click Submit.
- Log into the Invest app and tap the Save option on bottom of the screen.
- Select your Save RRSP account from the list.
- Tap the Fund this account button at the bottom.
- Tap Add or move funds.
- Enter the amount and tap continue.
- To this account: Select your Save RRSP account from the list and tap continue.
- From this account: Select your Group RRSP account and choose when you want to move the money, then tap continue.
- Review your transfer and then tap Submit.