https://webgridx.top/the-dangers-of-the-group-resp/ Let's Talk Money! Fri, 23 Jul 2021 02:58:31 +0000 hourly 1 https://wordpress.org/?v=6.8.3 https://webgridx.top/the-dangers-of-the-group-resp/#comment-1115 Fri, 23 Jul 2021 02:58:31 +0000 https://webgridx.top/the-dangers-of-the-group-resp/#comment-1115 I have been contributing to a group RESP through Canadian Scholarship Trust for my two daughters for the past 16+ years to the tune of over $76,000. Since learning of the MANY hoops and red tape involved in accessing my money (like only paying out the "Educational Assistance Payments" over 4 years – what about 2-year plans??) I have been looking to move my investment into a Family Plan with another company. Normally a transfer of funds involves a small transfer fee of about $50. CST is claiming that they can keep the growth of my investment over the past 16 years! That equates to over $20,000. Yet, they are not allowed to keep the growth on the Government Grant money (interesting…). I paid the exorbitant fees they charge in full, so I should be able to move my money as I see fit. This should not be legal!!

]]> https://webgridx.top/the-dangers-of-the-group-resp/#comment-1114 Mon, 05 Jul 2021 23:24:19 +0000 https://webgridx.top/the-dangers-of-the-group-resp/#comment-1114 Do not forget to mention the company name CST – Canadian scholarship Trust co.

]]>