Can I transfer money out of my RESP anytime or make withdrawals?

Yes, you can transfer your CST group plan to another CST RESP (Individual or Family Savings Plan) or to another RESP provider*.

You are entitled to withdraw all of the principal at any time before the maturity date of your group plan by cancelling your plan. On cancelling your plan, any income earned in the plan will remain for the benefit of the remaining beneficiaries in your beneficiary group. You cannot make partial withdrawals of the principal from your group plan. You may fully withdraw your principal at any time after the maturity of the plan when your child is enrolled in eligible post-secondary studies. This is specifically part of the design of our savings structure – we want your child to be able to access the funds to finance their post-secondary education when the time comes. In the Individual or Family Savings Plan, you can withdraw your contributions at any time but you will return forfeit the grants if your child is not enrolled in eligible post-secondary studies.

*Conditions apply and you will no longer be entitled to your group plan benefits.

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