If the beneficiary doesn't pursue post-secondary education, you have a number of options depending on the plan that you have:

  • If you have a Group Savings Plan, or CSTTM Advantage Plan, the beneficiary has 36 years after you opened your plan to qualify for Educational Assistance Payments (EAPs).
  • With the Founders' Plan, the beneficiary has 6 years (from the year that they turn 18) to claim the EAPs.
  • You could transfer the plan to another eligible beneficiary (with some restrictions)

 

Under certain conditions,

  • You could transfer the plan to an Individual or Family Savings Plan with CST (but please understand that you would lose the group plan benefits)
  • You may be able to transfer some or all your income to your Registered Retirement Savings Plan (RRSP) tax-free; or
  • You may be able to transfer some or all your income to a Registered Disability Savings Plan (RDSP) tax-free; or
  • You may be able to withdraw the income (at your marginal tax rate plus an addition 20%)


We will work with you to assess all of your options. Please remember, however, that, in the case the beneficiary does not pursue post-secondary education, the government requires that all of its unused grants be returned.