Is it true that the Heritage RESP pay-outs may be increased by a refund of Membership Fees, attrition and enhancements ?
Yes, it is. Depending on your pay-out option selection at Maturity, an amount equal to 25%, 50% or 100% of your Membership Fee may be returned to Beneficiaries with the Educational Assistance Payments (EAPs). You will not be eligible for return of Membership fees if you select the Self-Determined Option. In addition to Membership fees, each EAP has an added benefit of attrition and a discretionary payment from the Enhancement Fund. Historically, the Foundation has always maximized EAPs with a refund of the applicable portion of Membership fees, attrition and payments from the Enhancement Fund. For example in each of the last 5 years, approximately 1/3 of the EAP amount came from the Enhancement Fund. The Foundation’s general policy, established practice and future intentions are to provide for discretionary payments to maximize EAPs and to ensure ongoing long-term sustainability of enhancement payments. The return of Membership Fees and payments from the Enhancement Fund are discretion
Yes, it is. Depending on your pay-out option selection at Maturity, an amount equal to 25%, 50% or 100% of your Membership Fee may be returned to Beneficiaries with the Educational Assistance Payments (EAPs). You will not be eligible for a return of the Membership Fees if you select the Self-Determined Option. In addition to Membership Fees, each EAP has an added benefit of attrition and a discretionary payment from the Enhancement Fund. Historically, the Foundation has always maximized EAPs with a refund of the applicable portion of Membership Fees, attrition and payments from the Enhancement Fund. For example in each of the last 5 years, an average of approximately 15% of the EAP amount came from the Enhancement Fund. The Foundation’s general policy, established practice and future intentions are to provide for discretionary payments to maximize EAPs and to ensure ongoing long-term sustainability of enhancement payments. The return of Membership Fees and payments from the Enhancement
Related Questions
- Is it true that the Heritage RESP pay-outs may be increased by a refund of Membership Fees, attrition and enhancements ?
- Is it true that the Heritage RESP payouts may be increased by a refund of Membership Fees, attrition and enhancements?
- Will increased fees place greater burdens on industry? What is Health Canada doing to help smaller companies?
