Workplace savings programs should be simple and streamlined, both for employers to manage and for employees to monitor and contribute to their financial growth, according to an update shared by Rippling.
That’s why Rippling says it is pleased to announce a new integration with Wealthsimple to provide workplace savings programs to the Canadian market.
Their joint solution streamlines “the administration of Group RRSPs—Canadian retirement accounts similar to a 401(k)—and other workplace savings accounts as part of ongoing payroll.”
Hunter Williams, Director of Business Development at Rippling said:
“Wealthsimple is a leading financial services innovator, making them the perfect partner to uplevel our benefits offering for our Canadian customers and their employees.”
Together, Rippling and Wealthsimple claim they are improving “the way sponsors can offer workplace savings plans by eliminating hours of administrative work from each pay run, allowing organizations to focus on what really matters: their employees.”
This integration will:
- Sync employee information from Rippling to Wealthsimple, making it easier than ever to see who’s eligible for different programs and streamlining program management.
- Integrate pay runs from Rippling to Wealthsimple, allowing administrators to run their workplace savings programs for as many different pay schedules as they like.
- View employee and employer contributions to Wealthsimple workplace savings programs in Rippling, giving you a single source of truth and only one system to operate in.
- Allow employees to configure contribution levels that sync automatically to Rippling, ensuring the correct amounts are deducted and, if applicable, matched by the employer.
Rippling has been using this integration in Canada “for its own operations for several months and is excited to offer it to all customers now.”
Gren Austin, Head of Wealthsimple Business said:
“We hear constantly that employers want smart, connected systems with a single source of truth. No more managing their data across multiple systems or being required to take the same action across their tech stack. They want to focus on their employees, not their systems. Through this integration with Rippling, employers get to do just that—they get to add to their benefits offering for their Canadian employees without adding any administration burden.”
As clarified in the update, Rippling and its affiliates do “not provide tax, accounting, or legal advice.”
