View Our RESP Calculator
We will Help you Access Thousands of Dollars in Government Grants!We will Help you Access Thousands of Dollars in Government Grants!
Discover How »

Group Option Plan

  • The money you deposit to your Plan is pooled with the money of other Subscribers whose Beneficiaries have a common year of eligibility.
  • The CET group of education savings plans allows for many contribution options. Choose from:
    • online banking
    • Preauthorized payments from any bank account
    • Credit card – Visa, Mastercard, or American Express
    • Cheque, money order or draft
  • The Group Option Plan is the most structured of the plans that we offer. This a long-term investment best suited to investors willing to make a long-term financial commitment.  It has paid the highest Education Assistance Payments (EAPs) 16 years in a row.* Upon maturing your plan and enrollment into a recognized post-secondary institution, you are eligible to receive the following:**
    • Principal less fees is returned
    • Receive all eligible Government Grants plus income earned
    • Receive all benefits with either a 2, 3 or 4 year program
    • We have paid out the highest EAPs 16 years in a row*
  • Except in the Province of Québec, eligible subscribers are automatically insured in the event of death or permanent disability for the remaining deposits on the plan. Further optional coverages available.
  • If a plan is terminated and contributions are forfeit or unclaimed, that money remains in the pool to the benefit of the remaining subscribers/beneficiaries. This is a unique feature available for all group plans.  This additional interest income is applied to EAPs and given to Beneficiaries who pursue post-secondary education.  Canada Revenue Agency (CRA) requires that if an amount is left in the plan and the conditions for an educational assistance payment or Accumulated Income Payment (AIP) are not met, that amount will be paid to a designated educational institution in Canada, or to a trust for such an institution. Since this is a group plan, the payment is made to The Children’s Educational Foundation of Canada, a non-profit corporation. In 2011 income from Attrition was $1,392,575; this was applied to augment EAP's for beneficiaries in the Group Option Plan.
  • Discretionary top up and return of enrollment fee from the scholarship enhancement fund. At the discretion of the board of directors of the Foundation, income may be used toward the award of an amount equal to the enrolment fee to qualifying students at the time of education assistance payments***.  Any discretionary payment made by CEFI to the scholarship enhancement fund would be made on an equitable and proportionate basis.
  • Substitution of beneficiary subject to Income Tax Act
  • Children under 13 years of age can enrol
  • Earn and redeem AIR MILES® reward miles
  • Fixed deposits

* CEFI has compared its Education Assistance Payments for the Group Option Plan to those of other group scholarship plans through publically available information and disclosure.  On the basis of this comparison, CEFI has determined that its Group Option Plan has paid the highest Education Assistance Payments per unit to beneficiaries from 1997 to 2012 inclusive.

** Please consult the Plan's prospectus for full disclosure of the conditions to receive Education Assistance Payments under the terms of the Group  Option Plan.

*** Discretionary payments are not guaranteed. You should not count on receiving a discretionary payment.

  • Except in the Province of Québec, eligible subscribers are automatically insured in the event of death or permanent disability for the remaining deposits on the plan. Further optional coverages available.
  • If a plan is terminated and contributions are forfeit or unclaimed, that money remains in the pool to the benefit of the remaining subscribers/beneficiaries. This is a unique feature available for all group plans.  This additional interest income is applied to EAPs and given to Beneficiaries who pursue post-secondary education.  Canada Revenue Agency (CRA) requires that if an amount is left in the plan and the conditions for an educational assistance payment or Accumulated Income Payment (AIP) are not met, that amount will be paid to a designated educational institution in Canada, or to a trust for such an institution. Since this is a group plan, the payment is made to The Children’s Educational Foundation of Canada, a non-profit corporation. In 2011 income from Attrition was $1,392,575; this was applied to augment EAP's for beneficiaries in the Group Option Plan.
  • Discretionary top up and return of enrollment fee from the scholarship enhancement fund. At the discretion of the board of directors of the Foundation, income may be used toward the award of an amount equal to the enrolment fee to qualifying students at the time of education assistance payments***.  Any discretionary payment made by CEFI to the scholarship enhancement fund would be made on an equitable and proportionate basis.
  • Substitution of beneficiary subject to Income Tax Act
  • Children under 13 years of age can enrol
  • Earn and redeem AIR MILES® reward miles
  • Fixed deposits

* CEFI has compared its Education Assistance Payments for the Group Option Plan to those of other group scholarship plans through publically available information and disclosure.  On the basis of this comparison, CEFI has determined that its Group Option Plan has paid the highest Education Assistance Payments per unit to beneficiaries from 1997 to 2012 inclusive.

** Please consult the Plan's prospectus for full disclosure of the conditions to receive Education Assistance Payments under the terms of the Group  Option Plan.

*** Discretionary payments are not guaranteed. You should not count on receiving a discretionary payment.

  • Except in the Province of Québec, eligible subscribers are automatically insured in the event of death or permanent disability for the remaining deposits on the plan. Further optional coverages available.
  • If a plan is terminated and contributions are forfeit or unclaimed, that money remains in the pool to the benefit of the remaining subscribers/beneficiaries. This is a unique feature available for all group plans.  This additional interest income is applied to EAPs and given to Beneficiaries who pursue post-secondary education.  Canada Revenue Agency (CRA) requires that if an amount is left in the plan and the conditions for an educational assistance payment or Accumulated Income Payment (AIP) are not met, that amount will be paid to a designated educational institution in Canada, or to a trust for such an institution. Since this is a group plan, the payment is made to The Children’s Educational Foundation of Canada, a non-profit corporation. In 2011 income from Attrition was $1,392,575; this was applied to augment EAP's for beneficiaries in the Group Option Plan.
  • Discretionary top up and return of enrollment fee from the scholarship enhancement fund. At the discretion of the board of directors of the Foundation, income may be used toward the award of an amount equal to the enrolment fee to qualifying students at the time of education assistance payments***.  Any discretionary payment made by CEFI to the scholarship enhancement fund would be made on an equitable and proportionate basis.
  • Substitution of beneficiary subject to Income Tax Act
  • Children under 13 years of age can enrol
  • Earn and redeem AIR MILES® reward miles
  • Fixed deposits

* CEFI has compared its Education Assistance Payments for the Group Option Plan to those of other group scholarship plans through publically available information and disclosure.  On the basis of this comparison, CEFI has determined that its Group Option Plan has paid the highest Education Assistance Payments per unit to beneficiaries from 1997 to 2012 inclusive.

** Please consult the Plan's prospectus for full disclosure of the conditions to receive Education Assistance Payments under the terms of the Group  Option Plan.

*** Discretionary payments are not guaranteed. You should not count on receiving a discretionary payment.