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:
“Even in harmonious families there is this double life: the group life, which is the one we can observe in our neighbour’s household, and, underneath, another—secret and passionate and intense—which is the real life that stamps the faces and gives character to the voices of our friends. Always in his mind each member of these social units is escaping, running away, trying to break the net which circumstances and his own affections have woven about him.”
—Willa Cather (1873–1947)
“In order to become spoiled ... a child has to be able to want things as well as need them. He has to be able to see himself as a being who is separate from everyone else.... A baby is none of these things. He feels a need and he expresses it. He is not intellectually capable of working out involved plans and ideas like “Can I make her give me...?” “If I make enough fuss he will...?” “They let me do ... yesterday and I want to do it again today so I’ll....””
—Penelope Leach (20th century)