Common Wealth

What Common Wealth does

Common Wealth is a Toronto-based Canadian SaaS company that operates a fully digital, end-to-end group retirement platform for the Canadian small and mid-sized employer market, integrating RRSP, TFSA, RRIF, DPSP, and DCPP account types in a single plan with built-in personalized planning, target-date fund investing, lifetime plan portability, and decumulation tooling. The platform is cloud-native and SOC 2 certified, connecting to Canadian Western Trust as custodian, to BlackRock (with Mackenzie Investments and RBC GAM as additional partners) for default investment options, to Blumont for annuity/lifetime income, and to a wide range of employer payroll systems. The company serves three primary role-based experiences: a Member Portal and mobile app for employees, an Employer Dashboard for plan setup and administration, and an Advisor Platform that provides real-time business insights and revenue programs to a network of more than 400 Canadian broker and advisor firms.

The business model combines recurring AUA-based and per-plan administration fees, advisor revenue share, and emerging Platform-as-a-Service licensing to larger sponsors. Go-to-market is hybrid: direct inside sales to employers, a heavily partner-led motion through 400+ Canadian broker/advisor firms, a self-serve consumer layer (retirement calculator, mobile app, resource hub), and large institutional deals such as the my65+ PSW Savings Bonus Program managed in partnership with SEIU Healthcare and funded by a $29.9M Government of Canada pilot. Common Wealth is venture-backed (C$15M venture debt from Flow Capital in July 2025 and a C$12M CAD Series A in April 2026), reports more than 1,500 employer clients, and self-describes as Canada's fastest-growing group retirement provider. Since the beginning of 2024, the company has tripled its employer base, grown membership 3.5x, and grown assets under administration 4x.

Name

Common Wealth

Legal name

Common Wealth Pension Services Inc.

Website

https://commonwealthretirement.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

51–100 employees

Short description

Common Wealth is a Toronto-based Canadian SaaS company operating a digital, end-to-end group retirement platform for small and mid-sized Canadian employers, integrating RRSP, TFSA, RRIF, DPSP, and DCPP plans with built-in personalized planning, a 400+ advisor channel network, and a Government of Canada-backed Personal Support Worker savings program.

Ownership category

akta.pro rank

Product category

Group Retirement Technology / Retirement Recordkeeping Software

NAICS

Pension Funds (525110), Pension Funds (52511)

akta.pro primary industry

Digital Retirement Platforms (IRA/401(k), Pension & Decumulation) (FSAGAEAF)

akta.pro secondary industries

Digital Wealth Platforms for Advisors (TAMP/Advisor Tech) (FSAGAEAH), Retirement & Distribution Planning RIAs (401(k)/IRA/Pension Rollovers) (FSAAACAE), Taft-Hartley / Labor Union & Public Sector Retirement Systems (FSAAAGAK)

Keywords

• Group retirement platform
• Workplace retirement plans
• Digital pension technology
• Retirement recordkeeping SaaS
• Employee benefit administration

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Group retirement plan administration fees: Recurring SaaS-style fees charged to employers (and embedded in member fees) for administering group RRSP/TFSA/RRIF/DPSP/DCPP plans, including recordkeeping, digital platform access, customer service, and integrated planning tools. Adjustable fees and versatile payroll matching options for employers.
2. Advisor revenue programs: Revenue share / referral economics with the 400+ advisor network that sells Common Wealth plans to employer clients; advisors unlock recurring GRS revenue via Common Wealth's revenue programs.
3. Platform as a Service (PaaS): Licensing of the retirement technology platform to larger sponsors and partners as Platform-as-a-Service; revenue generated from technology licensing and platform usage.
4. Investment management / fund fees: Default investment option is BlackRock target date funds; Common Wealth earns fees on assets under administration via its partnership with world-class investment managers (BlackRock, Mackenzie, RBC GAM) and Blumont for annuities.

Pricing tiers

Go-to-market motion5 records

Distribution channels5 records

Marketing channels10 records

Core offering

Common Wealth operates a digital, end-to-end group retirement platform that enables Canadian small and mid-sized employers to set up and administer integrated RRSP, TFSA, RRIF, DPSP, and DCPP plans for their employees. The cloud-native SaaS combines plan setup, recordkeeping, payroll integration, AI-driven personalized retirement planning, default BlackRock target-date investing, and decumulation tools (including annuity integration), delivered through role-based member, employer, and advisor portals. Common Wealth also offers the platform as white-label PaaS to larger sponsors and runs the government-funded my65+ PSW Savings Bonus Program.

Product overview

Common Wealth operates a single unified digital group retirement platform composed of three role-based experiences (Member Portal & Mobile App, Employer Dashboard, Advisor Platform) wrapped around one core recordkeeping and transaction processing engine. The core platform supports integrated RRSP, TFSA, RRIF, DPSP, and DCPP account types in a single plan and is offered either directly to small/mid-sized Canadian employers (Common Wealth Group Retirement Platform) or licensed to larger sponsors/partners via the Platform as a Service (PaaS) offering. Two purpose-built extensions sit on top: the my65+ PSW Savings Bonus Program (a government-funded program for Personal Support Workers run in partnership with SEIU Healthcare) and the Guide to Retirement Video Series (in-platform member education), while the publicly accessible Online Retirement Calculator and the Retirement Reports research library support customer acquisition and thought leadership. The platform integrates with Canadian Western Trust (custodian), BlackRock, Mackenzie Investments, RBC GAM, Blumont Annuity, and member-employer payroll systems.

Differentiator

Problem solved

Functional benefit

Products and services

• Common Wealth Group Retirement Platform Flagship digital-first group retirement platform for Canadian small and mid-sized employers, integrating RRSP, TFSA, RRIF, DPSP, and DCPP account types into a single plan with low fees, automated payroll deductions, and built-in personalized retirement planning.
• Common Wealth Member Portal & Mobile App Member-facing web and mobile (iOS/Android) experience for plan members to enroll in approximately 10 minutes, contribute from paycheque or bank account, transfer in existing RRSP/TFSA/RRIF/LIRA, track retirement readiness, and manage retirement income (RRIF conversions, withdrawals) for life.
• Common Wealth Employer Dashboard Employer-facing digital plan setup and administration console for fully digital onboarding, plan design (RRSP, TFSA, RRIF, DPSP, DCPP), flexible contribution and matching structures, and integration with a wide range of payroll systems for automated per-pay-cycle contributions.
• Common Wealth Advisor Platform Advisor-facing portal with real-time business insights on group retirement revenue, sales and marketing resources, revenue programs, simplified client onboarding, plan transfers, and member education tooling, designed to help advisors scale group retirement savings (GRS) practices.
• Common Wealth Platform as a Service (PaaS) White-label / partner deployment of Common Wealth's retirement technology for larger sponsors and partners, exposing the core recordkeeping, transaction processing, and integrations with trustee, investment provider, annuity provider, and payroll systems.
• my65+ PSW Savings Bonus Program Government-funded retirement savings incentive program for Canadian Personal Support Workers, managed by Common Wealth in partnership with SEIU Healthcare. Eligible PSWs earn up to $7,500 in retirement savings bonuses (including a $1,000 first-contribution bonus) over two years through the my65+ retirement plan.
• Common Wealth Online Retirement Calculator Public web-based retirement calculator that projects required retirement income, government benefits (OAS/CPP), and the monthly savings needed to retire on target, and lets users compare a typical RRSP fee structure (2%) versus a lower-fee plan.
• Guide to Retirement Video Series Multi-module educational video series integrated into the platform covering retirement foundations, retirement age, estimating income needs, longevity, sources of income, RRSPs vs TFSAs, investing basics, and a Retirement Readiness Score.
• Common Wealth Retirement Reports Catalog of original retirement research and policy reports, including HOOPP-commissioned research on the business case for workplace retirement plans, World Bank-commissioned work on the Canadian pension model, an Aspen Institute FSP collaboration on portable benefits, and policy proposals such as the Canada Saver's Credit.

Quantifiable outcome

• Reduces retirement fees to ~1.2% vs 2% typical RRSP, potentially saving $7,560/year for a sample user, or letting them retire 45 months earlier.
• +6 more outcomes

Named customers29 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability6 records

Feature8 records

Partnerships

42 partnerships are on record, tiered flagship — over a decade-long partnership to deliver retirement security for psws; central to psw savings bonus program., flagship — federal partnership funding $29.9m psw retirement savings innovation program pilot managed by common wealth., flagship investment and technology partner; world-class asset manager providing default target date funds., strategic investment management partner., strategic — provides annuity / guaranteed lifetime income capability on the platform., core operational — custodian of plan assets., major advisor partner — multiple client wins including krone north america, pin point surveying, star egg., featured advisor partner with named testimonial., featured advisor partner with named testimonial; atp upgrade case study., major broker partner., major broker partner; multiple case studies (chalmers foundation, parker dki, minesense)., featured partner; david emanuel, vp & head of workplace solutions, provides testimonial., major broker partner; athene upgrade case study., featured broker partner; juniper cafe case study., featured broker partner., featured broker partner with named testimonial., channel partner., featured broker partner; parkland players case study., featured broker partner; waterfront bia case study., featured broker partner; forest city castings case study., strategic — hr/payroll/benefits technology partner; 2022 fintech breakthrough finalist (defined contribution investment innovation)., research and policy partnership. and research and policy partner..

• SEIU Healthcareflagship — over a decade-long partnership to deliver retirement security for psws; central to psw savings bonus program.Strategic or Co-development Partner · 21 April 2026Represents more than 68,000 frontline healthcare workers in Ontario. Co-created the my65+ retirement plan in Canada for low- and modest-income healthcare workers. Partnership with the Government of Canada funds up to $7,500 in retirement savings bonuses for PSW participants through Common Wealth's program management.
• Government of Canadaflagship — federal partnership funding $29.9m psw retirement savings innovation program pilot managed by common wealth.Strategic or Co-development Partner · 3 September 2025The Government of Canada committed over $29.9M to the Personal Support Worker Retirement Savings Innovation Program pilot, helping more than 5,000 PSWs save for retirement and build over $40M in retirement savings over 24 months. Common Wealth is the program manager, in partnership with SEIU Healthcare.
• BlackRockflagship investment and technology partner; world-class asset manager providing default target date funds.Technology or IntegrationDefault investment manager on the Common Wealth platform. Provides target date funds (LifePath) for members; BlackRock has over $10 trillion USD AUM and over C$275B for Canadian clients; over C$30B in Canadian LifePath products since 2007. Common Wealth offers automatic investing in BlackRock target date funds as the default option.
• Mackenzie Investmentsstrategic investment management partner.Technology or IntegrationWorld-class asset manager featured as one of Common Wealth's supported investment partners, alongside BlackRock and RBC GAM.
• RBC GAM (RBC Global Asset Management)strategic investment management partner.Technology or IntegrationFeatured as one of Common Wealth's supported world-class asset managers on the platform page.
• Blumont Annuitystrategic — provides annuity / guaranteed lifetime income capability on the platform.Technology or IntegrationAnnuity provider integrated with the Common Wealth platform, enabling group annuity / guaranteed lifetime income offerings.
• Canadian Western Trust Company (CWT)core operational — custodian of plan assets.Technology or IntegrationPlan custodian; responsible for holding and safeguarding the assets of plan members and for maintaining the registration of the plan with the CRA. Employers sign a Sponsor Agreement with CWT, and a separate Deferred Profit Sharing Plan Trust Agreement where applicable.
• Acera Insurance (Acera)major advisor partner — multiple client wins including krone north america, pin point surveying, star egg.Channel Partner/ Reseller/ DistributorInsurance and benefits brokerage that distributes Common Wealth group retirement plans to its SMB and mid-market employer clients.
• Barill & Companyfeatured advisor partner with named testimonial.Channel Partner/ Reseller/ DistributorBenefits and pension advisory firm distributing Common Wealth plans; director Greg Barill provides testimonial on the Advisors page.
• Bridgewell Benefit Partners (Bridgewell)featured advisor partner with named testimonial; atp upgrade case study.Channel Partner/ Reseller/ DistributorAdvisor partner; partner Michael Wortsman provides testimonial; partnered with Common Wealth on the ATP aviation group plan upgrade.
• Cowan Insurance Groupmajor broker partner.Channel Partner/ Reseller/ DistributorInsurance and benefits brokerage distributing Common Wealth group retirement plans.
• Hub International (HUB)major broker partner; multiple case studies (chalmers foundation, parker dki, minesense).Channel Partner/ Reseller/ DistributorInsurance brokerage; multiple case studies including Chalmers Foundation, Parker DKI, and MineSense.
• IDC Worldsource Insurance Network (IDC WIN)featured partner; david emanuel, vp & head of workplace solutions, provides testimonial.Channel Partner/ Reseller/ DistributorInsurance network distributing Common Wealth plans; David Emanuel contributes a podcast-style testimonial on capturing the GRS revenue opportunity.
• NFPmajor broker partner.Channel Partner/ Reseller/ DistributorInsurance and benefits brokerage; distributes Common Wealth plans.
• People Corporationmajor broker partner.Channel Partner/ Reseller/ DistributorCanadian group benefits and retirement advisor that distributes Common Wealth plans.
• Sterling Capital Brokersmajor broker partner; athene upgrade case study.Channel Partner/ Reseller/ DistributorInsurance broker; partner on the Athene financial services group plan upgrade.
• Winch & Company (Winch)major broker partner.Channel Partner/ Reseller/ DistributorInsurance and benefits brokerage; distributes Common Wealth plans.
• Navacordmajor broker partner.Channel Partner/ Reseller/ DistributorInsurance brokerage; distributes Common Wealth plans.
• Pace Benefits (Pace)featured broker partner; juniper cafe case study.Channel Partner/ Reseller/ DistributorBenefits brokerage; partner on Juniper Cafe SMB retirement plan case study.
• Peak Benefit Plans (Peak)featured broker partner.Channel Partner/ Reseller/ DistributorBenefits broker that distributes Common Wealth plans.
• Penmore Benefits (Penmore)major broker partner.Channel Partner/ Reseller/ DistributorBenefits brokerage; distributes Common Wealth plans.
• Rock Harbour Group Benefits (Rock Harbour)featured broker partner with named testimonial.Channel Partner/ Reseller/ DistributorGroup benefits broker; partner Michael Steffler provides testimonial on Common Wealth's modern technology and service model.
• Consilio Benefits (Consilio)channel partner.Channel Partner/ Reseller/ DistributorInsurance/benefits broker that distributes Common Wealth group retirement plans.
• JRP Benefits (JRP)channel partner.Channel Partner/ Reseller/ DistributorBenefits broker; distributes Common Wealth plans.
• Park Place Financialchannel partner.Channel Partner/ Reseller/ DistributorFinancial services/benefits partner that distributes Common Wealth plans.
• Benefits Alliancechannel partner.Channel Partner/ Reseller/ DistributorBroker network that distributes Common Wealth plans.
• Elementus Wealth (Elementus)featured broker partner; parkland players case study.Channel Partner/ Reseller/ DistributorWealth management firm; partner on Parkland Players daycare group plan; advisor Minh Mac provides testimonial.
• Farrow Benefits (Farrow)featured broker partner with named testimonial.Channel Partner/ Reseller/ DistributorBenefits broker; partner Joel Farrow provides testimonial on top-notch client support.
• Green Benefits Groupchannel partner.Channel Partner/ Reseller/ DistributorBenefits broker; distributes Common Wealth plans.
• Hamilton Groupchannel partner.Channel Partner/ Reseller/ DistributorInsurance/benefits broker; distributes Common Wealth plans.
• Jones Deslauriers (Deslauriers)channel partner.Channel Partner/ Reseller/ DistributorInsurance brokerage; distributes Common Wealth plans.
• JWL Benefits (JWL)featured broker partner with named testimonial.Channel Partner/ Reseller/ DistributorBenefits brokerage; partner Jack Larmond provides testimonial on platform simplicity.
• Lloyd Saad Insurance Brokerschannel partner.Channel Partner/ Reseller/ DistributorInsurance brokerage; distributes Common Wealth plans.
• Claremont Benefitsfeatured broker partner; waterfront bia case study.Channel Partner/ Reseller/ DistributorBenefits broker; partner on the Waterfront Business Improvement Association case study.
• SPM Financial Group (SPM)featured broker partner; forest city castings case study.Channel Partner/ Reseller/ DistributorBenefits and financial services broker; partner on the Forest City Castings profit-sharing plan case study.
• AGA Benefits (AGA)featured broker partner with named testimonial.Channel Partner/ Reseller/ DistributorBenefits broker; partner Joanne Woodrow, Senior Group Retirement Consultant, provides testimonial on rapid employee enrollment.
• Group Force Benefitsfeatured broker partner with named testimonial.Channel Partner/ Reseller/ DistributorGroup benefits broker; partner Carlo Ravenna, Vice President, provides testimonial.
• Benefits Connectchannel partner.Channel Partner/ Reseller/ DistributorBroker partner; Andrew Noble, Managing Director of Group Savings, provides testimonial.
• Humistrategic — hr/payroll/benefits technology partner; 2022 fintech breakthrough finalist (defined contribution investment innovation).Technology or IntegrationAll-in-one Canadian HR, payroll, and benefits solution that hosts the Humi Marketplace in which Common Wealth participates; Humi's own retirement plan is built on Common Wealth.
• Aspen Institute Financial Security Program (FSP)research and policy partnership.Strategic or Co-development PartnerCollaboration between the Aspen Institute FSP and Common Wealth on a report titled "Portable Non-Employer Retirement Benefits" — bringing a solutions-oriented perspective to future of work and retirement security in America.
• HOOPP (Healthcare of Ontario Pension Plan)research and policy partner.Strategic or Co-development PartnerHOOPP-commissioned research by Common Wealth including "The business case for good workplace retirement plans" and "The Value of a Good Pension" (identifies five value drivers: savings, fees, investment discipline, non-biased investment management and risk pooling).
• World Bankresearch and policy partner.Strategic or Co-development PartnerWorld Bank commissioned a report by Common Wealth titled "The Evolution of the Canadian Pension Model" to document the emergence of the Canadian model for stakeholders in emerging economies.

Scale indicators11 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Wealthsimple: Wealthsimple is a Canadian digital investment and retirement platform that has expanded into workplace retirement and group benefits, competing directly with Common Wealth for Canadian SMB employer retirement mandates with a comparable digital-first, low-fee positioning.

Broad incumbents

• Sun Life Financial: Sun Life is one of Canada's largest group retirement and benefits providers with deep broker relationships and an established book of Canadian SMB group retirement plans; it competes broadly with Common Wealth across group RRSP/DPSP/DCPP products and advisor channel.
• Manulife Financial: Manulife is a major Canadian group retirement incumbent offering group RRSP, DCPP, and DB solutions with a large institutional asset base and broad advisor distribution; it is the most direct traditional incumbent comparator to Common Wealth's SMB group retirement offering.
• Canada Life: Canada Life is a major Canadian group retirement and benefits provider serving SMB and mid-market employers through advisors; it competes with Common Wealth in the same group RRSP/DCPP space with overlapping channel partners.
• Desjardins Group: Desjardins is a large Canadian financial cooperative with significant group retirement and individual retirement offerings distributed through its caisse network and external advisors; it competes broadly for Canadian group retirement mandates.

Emerging players

• Human Interest: Human Interest is a US digital-first 401(k) recordkeeping platform for SMBs with a similar low-fee, tech-led positioning; it is a useful North American digital-retirement comparator even though it operates in the US 401(k) market rather than Canadian group RRSP.
• Guideline: Guideline is a US digital 401(k) and IRA platform for SMBs with comparable automation, target-date defaults, and pricing transparency; it serves as a North American benchmark for digital-first retirement UX and SMB employer onboarding.
• Vestwell: Vestwell is a US digital recordkeeping and administration platform powering workplace retirement and savings programs for financial advisors and SMB employers; it parallels Common Wealth's advisor-led distribution and PaaS-style offering in the US market.
• League: League is a Canadian digital employee benefits and health platform for SMB and mid-market employers; it overlaps with Common Wealth on the employer digital-benefits wallet and is a natural cross-sell or competitive peer in the Canadian SMB benefits stack.

Others

• Humi: Humi is a Canadian HR, payroll, and benefits platform that already uses Common Wealth as its retirement plan provider and hosts Common Wealth on its Humi Marketplace; it is a technology partner and adjacent ecosystem participant rather than a direct retirement competitor.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat7 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/CWretirement
• Facebookfacebook.com/commonwealthretire
• LinkedInlinkedin.com/company/commonwealthretirement
• Instagraminstagram.com/commonwealthretirement

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles16 records

Funding overview

Funding rounds3 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Common Wealth