Change Beneficiary

How to Change Your RESP Beneficiary

You can change the beneficiary of your RESP any time before your plan matures and any number of times during the life of your plan.

The most common reason for changing is that the original beneficiary does not plan to enroll in a post-secondary program, but it’s good to know that this option is also available in the event of death or disability.

The new beneficiary must have a Social Insurance Number (SIN) and be a Canadian resident. Bear in mind that total RESP contributions are limited to $50,000 per beneficiary.

If you have a Family Group Plan and your new beneficiary isn’t the same age as the original, you can change the maturity date of your plan. You may also need to change the amount and number of contributions or make an income adjustment.

If you have a Heritage Plan, the new beneficiary must be under the age of 21 and meet certain criteria.

Change the Beneficiary of Your Heritage RESP
 

Maximize Your Grants

Only an RESP is eligible to receive government grants, making it the best way to save for education. Make sure you are making the most of the grants available each year.Only an RESP is eligible to receive government grants, making it the best way to save for your child’s education.  Learn how to make the most of the education savings grants available each year, including how to leverage unused grant room from previous years.

Forms & Resources

  • Banking Information Change Form (Family & Flex Plans)

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  • Beneficiary Replacement Form (Family & Flex Plans)

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  • Beneficiary Replacement Form (Heritage Plans)

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  • Internal Plan Transfer Form (FG to FSS)

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We’re here to help

Do you have questions on how to make changes to your contributions? Contact your Sales Representative or our Customer Service team.

For Flex First or Family Plans                          Contact us

For Heritage Plans                                            Contact us