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Group Option Plan

  • The money you contribute to your Plan is pooled with the contributions 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 a long-term investment with a structured contribution schedule best suited to investors willing to make a long-term financial commitment.  It has paid the highest Education Assistance Payments (EAPs) 17 years in a row.* Upon maturing your plan and enrollment into Eligible Studies, you are eligible to receive the following:**
    • Net Contributions
    • Eligible Government Grants plus income earned
    • Flexible enough to accommodate a part-time post secondary program of 3 consecutive weeks with 12 hours per month spent on courses right up to a full-time 4 year post secondary educational program.
    • We have paid out the highest EAPs 17 years in a row*
 
  • Except in the Province of Québec, eligible subscribers are automatically insured in the event of death or permanent disability for all remaining contributions on the plan. Further optional insurance coverages available.
  • If a plan is terminated the investment income remains in the EAP Account for the applicable Beneficiary Group. This is true for all group plans.  This investment 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. In 2013 investment income from Attrition was $2,209,813; this forms part of the EAP's for beneficiaries in the Group Option Plan.
  • Discretionary top up and return of Sales Charge from the Discretionary Payment Account (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 Sales Charge to qualifying students at the time of education assistance payments***.  Any discretionary payment made by CEFI to the Discretionary Payment Account (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 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 2013 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 all remaining contributions on the plan. Further optional insurance coverages available.
  • If a plan is terminated the investment income remains in the EAP Account for the applicable Beneficiary Group. This is true for all group plans.  This investment 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. In 2013 investment income from Attrition was $2,209,813; this forms part of the EAP's for beneficiaries in the Group Option Plan.
  • Discretionary top up and return of Sales Charge from the Discretionary Payment Account (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 Sales Charge to qualifying students at the time of education assistance payments***.  Any discretionary payment made by CEFI to the Discretionary Payment Account (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 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 2013 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 all remaining contributions on the plan. Further optional insurance coverages available.
  • If a plan is terminated the investment income remains in the EAP Account for the applicable Beneficiary Group. This is true for all group plans.  This investment 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. In 2013 investment income from Attrition was $2,209,813; this forms part of the EAP's for beneficiaries in the Group Option Plan.
  • Discretionary top up and return of Sales Charge from the Discretionary Payment Account (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 Sales Charge to qualifying students at the time of education assistance payments***.  Any discretionary payment made by CEFI to the Discretionary Payment Account (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 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 2013 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 all remaining contributions on the plan. Further optional insurance coverages available.
  • If a plan is terminated the investment income remains in the EAP Account for the applicable Beneficiary Group. This is true for all group plans.  This investment 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. In 2013 investment income from Attrition was $2,209,813; this forms part of the EAP's for beneficiaries in the Group Option Plan.
  • Discretionary top up and return of Sales Charge from the Discretionary Payment Account (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 Sales Charge to qualifying students at the time of education assistance payments***.  Any discretionary payment made by CEFI to the Discretionary Payment Account (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 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 2013 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.