In my case i ve been told by REP. of Freeze this PLAN . till maturity date (next 8 years)
what my principle +grant + interest earn on grant will still be invested and keep going to increase
there is no ADMIN. fee anymore onwards because you plan will convert as single payment that's all...of course my UNITS will be down according to 8 years of plan, ....
still i will loose admin. fee($4200) till now..but nothing future

but my new contribution will stop so my new grant will stop ...so as per his suggestion i will get money in maturity will be bit better then if i break or trnasfer now...
they will use my money for next 8 years they will add penut as interest income in next 8 years

and i ve minimum damage..(i ve to call company to confirm this )

- and i will start new plan with bank ..for next 8 years...

- CAN any one PLEASE confirm if this way things works... or is there still hidden shit involve...
- i already lost faith in this assholes..i just expecting input from here if any expert around

thanks

i contact REP. (our fellow indian countryman). he advice above, and now on he don't reply my phone as well pick up phone. bcoz in 8 years he already got his commission simple ..he don't care ...
so i took case in my hand between me and company...

- earlier REP. called me there is no charge if you freeze the policy. as i mention above.
- but when i direct cotact company , they said even your policy is freeze still you have to pay admin. charge because your money is still here , it means no matter what i have to pay them .. they will take money from my principle, means after 8 years my principle is way lower then now..

- this is like OCTOPUS ...you can't escape at all once you are IN.
- when time to get policy , they said oh..you don't need to worry about payment because even you are new comer / new mom, you can set your child tax benefit to this RESP plan.. so this ass holes has an eyes on your child tax benefits...from day one... it looks it is there money but by mistake GOVT. gives to you..
*** Please speread this msg. as wide as you can...save atleast couple of new indian*******

Thanks for sharing this across.

I have got more awareness on this now and would surely look out for the finer prints when putting my money to an RESP.

I was surprised when I was contacted by one of these Group RESP company's representative with in a month of my child being born - first thought that came to my mind was - how did they get this information.

Now after all the Privacy Commissioner's dressing down to the Hospitals recently in similar cases , I know there's a whole gamut of covert knowledge sharing.

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Fido.

Fido,
just let me make you clear...Not group RESP ..ALL RESP private company..ARE SAME..
just close your brain to understand what they want to tell you...
this ass holes.. are got info. from hospital. and as i said ..(how they think) the child tax money is belong to them.. so it has to come back to them...OK..
if you don't know what to do whitout loosing time if you are thinking to start RESP soon... best thing
is just go to any closest BANK..any bank you like..start contribution how you want..
once it starts...then you think next step if you want to invest in mutual fund.. or not it is up to you...

..Do me favour..SPREAD this msg. as much as you can...and help innocent people from this SCAM..

Sorry for long time away...want to update status of my RESP..i already put the RESP transfer request to my BANK RESP account 2 month ago . today they told me they (Resp company) REJECTED it because TD bank dosen't have previllage to obtain all kind of GRANT provided by GOVT. ...
see this ass hole ..how crooks they are.. i am talking to bank ..as well push this M***F*** RESP company to put it through....apart of i am loosing money almost more than $5000
this ass holes...still ..not doing it....i don't know when it will ???

---AGAIN ...DON'T ...go with any private RESP...only BANK..BANK..BANK...BANK......
please spread this msg. to your family , friends, relatives....as far as ..you can....SAVE innocent people..
from this kind of company..and ..so called fellow " countryman "

thanks