Group Plans
In group RESPs (otherwise known as Group Scholarship RESPs), individual contributions are pooled with those of other contributors. In a pooled group plan, the interest that is left behind from cancelled RESPs gets paid out with the matured plans. This excess "interest" is also called attrition.
Read more about this topic: Registered Education Savings Plan
Famous quotes containing the words group and/or plans:
“There is nothing in the world that I loathe more than group activity, that communal bath where the hairy and slippery mix in a multiplication of mediocrity.”
—Vladimir Nabokov (1899–1977)
“Architect. One who drafts a plan of your house, and plans a draft of your money.”
—Ambrose Bierce (1842–1914)
Related Phrases
Related Words