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What happens if the beneficiary decides not to pursue a post-secondary education or I need to withdraw the money?

You have a number of options, including -

•transfer the RESP assets to another eligible beneficiary
•withdraw the funds for yourself (you must repay the government grants and pay taxes and a surcharge on investment income you withdraw)
•transfer up to $50,000 of the investment income to the subscriber's regular or spousal Retirement Savings Plan (RSP)if there is enough contribution room
•donate the investment income to a Canadian educational institution
Conditions apply to all of these options, so please ask us for details.


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