We know that for many Canadians, the COVID-19 pandemic has brought heightened feelings of concern and uncertainty. CEFI understands that some Subscribers may have difficulty making scheduled contributions due to these unprecedented times and the difficult state of Canada’s economy. CEFI is here to assist you.
If you have difficulty making Contributions and foresee continuing to have such difficulty, there are several options that will enable Subscribers to stay invested in the Group Option Plan, Self-Initiated Option Plan or Achievers Plan. Please contact Children’s Education Funds Inc. (CEFI) to discuss making changes to your plan and together, we will help you find a solution1.
We can assist you with:
- Suspending your Contributions. There is no Transaction Fee associated with a Suspension request.
- Reducing your Contributions.
- Keeping your RESP but make no additional Contributions
- Transfer from the Group Option Plan to the Self-Initiated Option Plan.
By reaching out and connecting with CEFI, we can offer personalized service to you and together help you find the right solution if you are affected by COVID-19 related hardship. We will make sure that you know the benefits and any cost associated with making a change to your plan.
We are all in this together. More than anything, we want you to know that we continue to be here for you. We are ready to work with you to ensure that your RESP is there for you at the time when your loved one is ready to commence post-secondary. Together, we will work through the challenges that these unprecedented times bring and we will work with you to preserve your RESP investment.
Thank you for choosing CEFI.
1 Restrictions, fees and, in the case of a Group Option Plan, an interest deficiency administrative adjustment (paid to your cohort) may apply depending on the option selected. Some options which reduce units will result in a loss of Income.