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:
“Instead of seeing society as a collection of clearly defined “interest groups,” society must be reconceptualized as a complex network of groups of interacting individuals whose membership and communication patterns are seldom confined to one such group alone.”
—Diana Crane (b. 1933)
“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)