Registered Retirement Savings Plan (RRSP)
Build your own RRSP account for your goals. Start with as little as $1.
A smart way to save for life after work
Reduce your yearly tax bill now
Any money you put into an RRSP within the contribution limit is deducted from your annual income — meaning nice savings for you at tax time.
Withdraw at a lower tax rate later
Any growth in your account is tax-free until withdrawal. When it comes time to withdraw in retirement, you’ll get to do so at a lower tax rate.
Pay for education or a home
The Home Buyer’s Plan and Lifelong Learning Plan let you withdraw limited amounts from your RRSP before retirement.
We make retirement saving simple
Start investing in minutes
Open your account without any bank appointments or paperwork. Making your contributions (or withdrawing when the time comes) only takes a few taps.
Reach out to us for support
Questions about your RRSP? Our team is here to help — just get in touch.
Keep more of your returns
Whether you’re picking your own stocks or letting us manage the investing, you won’t need to worry about high fees eating into your returns.
Ways to invest with an RRSP
Have your portfolio managed by our advisors
With Managed investing, we do the heavy lifting. Tell us your goals and timeline and we’ll invest your money in a diverse range of assets.
Independently trade stocks and ETFs
A Self-directed account allows you to buy and sell over 14,000 stocks and ETFs commission-free. You can automate your investments, and start trading right away with up to $250,000 in instant deposits.
Open your RRSP as a HISA
With a High Interest Savings Account, you can earn up to 2.75% interest on your savings without the risk of stock market fluctuations — and you can withdraw at any time, too.
Take the work out of retirement saving
Open your RRSP without any paperwork or visits to a bank, and start saving up for retirement today.
Move your RRSP to Wealthsimple, we'll give you back the transfer fees
We'll automatically reimburse the transfer-out fees charged by your brokerage when you move at least $25,000 to us. Conditions apply.
FAQs
We’re able to offer commission-free trades because we’ve built a low-cost, digital-first brokerage powered by technology. And executing trades actually costs very little for brokerages, so we don't think it's fair to charge our clients big trading commissions.
For our list of fees, including foreign exchange fees for USD trades, see here.
Your Wealthsimple Self-directed Investing account is an account (offered by Wealthsimple Investments Inc.) that allows you to buy and sell stocks and ETFs with no trading commissions. Wealthsimple Investments Inc. offers a self-directed platform and doesn't offer any financial advice or recommendations.
Your Wealthsimple Managed account is an automated investing service offered by our affiliate, Wealthsimple Inc., that manages your investments for you — including your RRSP and TFSA — using a personalized portfolio of low-fee exchange-traded funds. Wealthsimple Inc. also provides financial advice. If that's what you're looking for, please click here.
Clients using CAD accounts pay no commission fees when trading Canadian stocks. However, every time you trade US stocks, you will pay a 1.5% currency conversion fee (foreign exchange (FX) conversion fee) on top of the corporate exchange rate, which is a live rate including a spread which may vary due to market conditions.
With a USD account, you can hold US currency in your RRSP, TFSA, or personal account. So in addition to no commission fees, you’ll be able to transfer US dollars from another Canadian institution into Wealthsimple, then trade US stocks (or hold it as cash) without the worry of FX conversion fees. You’ll only pay an FX conversion fee and a corporate exchange rate when converting currency between CAD and USD, vice-versa (for example: if you deposit CAD into your USD account). The more you convert per transaction between your USD and CAD accounts, the lower your FX conversion fee.
- Core clients can access USD accounts for $10/month or by becoming a Premium or Generation Client.
- Premium and Generation clients have free access to open a USD trading account anytime.
You can find out more about USD accounts here.
Wealthsimple’s affiliated custodial broker, Wealthsimple Investments Inc. is a member of the Canadian Investment Regulatory Organization (www.ciro.ca). Customer accounts are protected by the Canadian Investor Protection Fund within specified limits. A brochure describing the nature and limits of coverage is available upon request or at (www.cipf.ca).
In the extremely unlikely event that Wealthsimple were to go out of business, your account would remain safe. All securities are beneficially held under your name, and if we were to close, you could choose to keep your money with Wealthsimple Investments Inc. or transfer it to a new advisor or your bank account.
Wealthsimple Inc. is a registered Portfolio Manager in Canada. Securities in your account may be protected through Wealthsimple Investments Inc. See www.cipf.ca for more details.