The Regulation of Group Plan RESPs and the Experiences of Low-Income Subscribers
Author: Gail E. Henderson, Gaylen Eaton, Jerry Buckland, Kevin Schachter, Simon Chung
Topic: Asset building and saving, Consumer protection
Publisher: Menno Simons College, Momentum, SEED Winnipeg
Location: Canada
Format: Report
Content Type: Research
Publication Date: June 29, 2018

Through the Group RESP Research and Education Project, SEED Winnipeg, Momentum (Calgary), the Legal Help Centre of Winnipeg, and an interdisciplinary research team studied the regulation of group plan RESPs and the experiences of low-income subscribers, and developed public legal education materials to support low-income RESP subscribers in understanding and making informed decisions about their RESP investments. This report presents the research component of this project.

This report shows that group plan RESPs are complex, and while they can be beneficial, participation in a group plan may be detrimental to a subscriber's financial well-being if the plan is not well aligned with the subscriber's needs. Low-income subscribers continue to be significantly represented in RESPs held by group plan promoters.

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