The subscribers of the REFLEX Plan and UNIVERSITAS Plan vote in favour of maintaining the easing of the EAP qualification criteria.
This means that all clients who hold an RESP corresponding to the REFLEX Plan and/or UNIVERSITAS Plan will continue to benefit from the relaxed EAP qualification criteria. The easing of these criteria initially came into effect in January 2018 further to a first vote of subscribers.
The relaxing of the EAP criteria brought to our group plans in January 2018 will remain in force and all our clients will continue to benefit from them.
It was agreed with the Autorité des marchés financiers that at the end of this vote, financial mitigation measures of at least $1 million would be put in place to offset the impact of the changes to the eligibility criteria for some beneficiaries.
The mitigation measures, to be announced in early 2019, will reduce the impacts for beneficiaries who are disadvantaged by these changes.
Further to comments from subscribers claiming they did not understand the implications of the first resolution to ease the EAP criteria, and after discussing the matter with the AMF, we undertook to hold a new vote.
It is to be sure that everyone has had the opportunity to make an informed decision and express their opinion that we consulted our subscribers a second time.