TRANSFERRING YOUR GROUP PLAN
Here are some reasons why you may want to request a transfer from your Family Group Plan to a Family Single Student Plan:
- Your student will attend a post-secondary program of less than 3 years, or on a part-time basis;
- Your student will be enrolling in an apprenticeship or trade school;
- Your student will be enrolling in a post-secondary institution or program that does not qualify. For information about recognized institutions and programs, please click here.
- Your student will not attend a post-secondary institution. Income in the Individual Plan can be issued to the subscriber in some circumstances.
What amounts are transferred?
Your net contributions, accumulated income, grant and grant income are transferred from your Family Group Plan to the Family Single Student Plan. Enrolment Sales Charge is waived in the new plan.
How to transfer:
- You must transfer plans prior to the student’s 19th birthday or before the maturity date of your Group Plan agreement, whichever occurs first.
- Contact us in writing or select Option 4 on the Maturity Application Form and submit your request prior to July 1st.
- Once a transfer request has been received, Knowledge First Financial will send you a transfer package to be completed and returned by July 31st.