Get the most from your education savings
Our group savings plan is different from RESPs offered by other financial institutions. In addition to principal protection and a disciplined investment approach, our group RESP is a pooled savings plan that combines several benefits.
Benefits of the CST Group Savings Plan
- Disciplined savings
- Principal protection – Our lower-risk investment strategy ensures that we can protect your principal and return it to you in full.
- Competitive returns — Year after year, our Group Savings Plan has delivered competitive rates of return. We work hard to optimize the return on your investment by setting realistic, achievable targets to make the most of your savings.
- Pooled savings — CST currently manages $4.1 billion in assets for more than 250,000 Canadian families1. Pooling your money with other families lets you benefit from professional investment management services affordably.
- Flexible education program options
- Access to Education Assistance Payments (EAPs) in the first year of post-secondary education
- Sales charge refund2
- Group Plan Bonus3 — Students receive a bonus on top of their investment income after plan maturity. It’s a benefit you only get from a CST group RESP.
- Discretionary payments4 — The Foundation has made a discretionary payment every year since 1987. These donations have amounted to over $66 million, including $4 million in 2014.1
- Option to transfer to a Family or Individual Savings Plan
- Option to transfer income to the subscriber’s or subscriber's spouse's Registered Retirement Savings Plan (RRSP) or receive an Accumulated Income Payment (AIP) or transfer to a Registered Disability Savings Plan (RDSP)5
How the Group Savings Plan works
The CST Group Savings Plan is available for children under 13 years of age. Here is what to expect – from initial contributions through to the unique payout benefits only our group savings plan offers!
1. You put the money in
Our Group Savings Plan pools your money with savings from other families so everyone benefits. We have contribution schedules to fit every budget and savings goal.
2. The government contributes
Once your plan is registered as an RESP, it’s eligible for government grants that start earning income right away. All RESPs are eligible for the Canadian Education Savings Grant (CESG). Your plan may also be eligible for other grants. Learn more.
3. We invest the money
Our lower-risk investment strategy helps us protect your principal and return it to you in full so your money will be there when your child is ready for post-secondary school.
4. Your student qualifies for school
Qualified students can study full-time or part-time at home or abroad. We have one of the most flexible group plans for study options.
5. We make the payments
When your plan matures, we can return the principal to you right away or reinvest it so it keeps earning income.
As long as you make all your contributions and stay invested to maturity, we also return at least half of your sales charges, paid in installments when we send the education assistance payments (EAPs) to your student. Students enrolled in eligible studies are eligible for up to four education assistant payments, one for each year of post-secondary education.
Group Savings Plan 2001 rate of return
Reasons to invest in this plan
- You have a low tolerance for risk
- Principal protection is important to you
- You are willing to commit to a long-term investment horizon
- You want the peace of mind that comes from saving for your child's education
What if things change?
We understand that life doesn’t always go as planned
There are many options if your child decides to delay school, select a shorter program, or not attend post-secondary school at all. Learn more.
And, if your financial circumstances change along the way, we’ll work with you to try to find the best way for you to keep saving for your child’s education.