ABOUT CEFI / Self-Initiated Option Plan

      Self-Initiated Option Plan

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The CET Self-Initiated Option Plan

Designed for investors who are seeking a flexible, individual RESP option. A good option for those who value control over the timing and amount of payments from the Plan.

Key Benefits

  • Contribute when & how much you want – no scheduled deposit requirement!1
  • There is no age restriction for the beneficiary that you select
  • Beneficiary Insurance is available to protect your beneficiary2
  • The Canada Learning Bond Only Self-Initiated Option Plan allows select Canadians to open a RESP without having to invest any of their own money!
1 Subject to legislative lifetime limits. A minimum contribution of $300 within 12 months of the date of enrollment applies. 
2 Offered by CUMIS Life Insurance.

The Canada Learning Bond Only | CET Self-Initiated Option Plan

We are proud to also offer a Canada Learning Bond (“CLB”) only Self-Initiated Option Plan as a means of enabling lower income families to open an Education Savings Plan in a cost efficient way that does not require contributions of the subscriber’s own money. Canada Learning Bond recipients could receive up to $2,000 towards their RESP as set out below1 :

$25 to help cover the cost of opening the RESP;

$500 to add to the RESP now, to help you start saving early; and

an extra $100 each year until the calendar year your beneficiary turns 15.

Who is eligible?

Generally speaking, Canadian families whose net income is less than $47,630 (2019 income threshold) may be eligible to receive the Canada Learning Bond if the child is born after December 31, 20032. The beneficiary and the subscriber(s) will each need to provide their Social Insurance Number (SIN) to us at the time the Plan is opened.

How does it work?

You must qualify to receive the Canada Learning Bond in order to open a Canada Learning bond Only Self-Initiated Option Plan. To open a CET Canada Learning Bond Only Self-Initiated Plan, you need to meet with one of our Dealing Representatives and complete the documents that are required to open the Plan, including the process to apply for the Canada Learning Bond, which requires SINs for the beneficiary and all subscribers. You will not be required or asked to contribute any of your own money. Once your application is approved, the Canada Learning Bond will be deposited directly into your child’s RESP every year that he or she is eligible (Once you have applied, it is renewed automatically each year). The Bond is usually paid in the month of August.

CEFI waives both the Sales Charge and the Annual Depository fee for subscribers who open a Canada Learning Bond only Self-Initiated Option Plan3. With the Canada Learning Bond only Self-Initiated Option Plan, there is no requirement to meet the $300 investment minimum as the subscriber is not contributing his/her own funds.

1 Please see here for more information about the Canada Learning Bond. 
2 Please see here for more information about eligibility to receive the Canada Learning Bond. 
3 Please refer to the Plan’s prospectus for full information on all fees that apply. Fees and restrictions apply if the subscriber contributes his/her own funds and the Plan no longer consists of Canada Learning Bond only. As long as the Self-Initiated Option Plan consists solely and exclusively of the Canada Learning Bond, there is no requirement to meet the $300 investment minimum.


Earn AIR MILES® reward miles!


Earn 10 AIR MILES® reward miles for enrolling in a CET Self-Initiated Option Plan.  Receive 1 AIR MILES® reward mile for every $100 contributed until your Plan matures.

Educational Assistance Payments (EAP)

You tell us how much you would like to be paid from the Plan and when. Government grants collected over the life of the plan are paid to beneficiaries as part of EAPs.

Eligible Studies


Qualifying post-secondary educational institutions include universities, community colleges, certain trade schools, vocational schools, technical schools, religious schools, CEGEP’s, as well as distance learning or correspondence learning programs. Please see the Master List of Designated Educational Institutions (both in Canada and international) here

Investment Asset Mix as of Dec 31st 2020

Our investment objectives are to maximize long-term growth of income on subscribers’ RESP savings while ensuring the preservation of those savings.

Pooling your money with other families lets you benefit from professional investment management services in a cost-effective way.

In 2020, the Foundation paid out over $103 Million to Canadian families enrolled in our Plans.1

1 Total 2020 payments to Canadian Families includes return of net Contributions at Plans’ maturity and total Education Assistance Payments paid to beneficiaries as reported in the Statement of Changes in Net Assets Attributable to Subscribers and Beneficiaries in our 2020 Annual Audited Financial Statements available here

What if things change?

We understand and are always available to assist you. There are options available if you need to make a change to your Plan. If your financial situation changes, we are available to assist you and explore options in a professional and informed manner.