Back to the list of questions

Can I transfer the money accumulated in an RESP to a second child?

When we opened a UNIVERSITAS group RESP for our eldest, we were told that if he didn’t pursue post-secondary education, we could transfer the money to a younger sibling. Is this still possible?

OUR ANSWER

Under both our group plans (REFLEX and UNIVERSITAS), a beneficiary who is less than 21 years of age can be replaced by another beneficiary also younger than 21 years old.

Please note that certain conditions apply with regard to the transfer of government grants in the case of beneficiary changes. If you have an INDIVIDUAL Plan, other terms and conditions could also apply.

For more information on this type of change, contact our Customer Service at 1 877-710-7377.

SEE ALSO