Individual And Family Savings Plans
Our Individual Savings Plan and Family Savings Plan are self-determined plans
that are ideal for parents who prefer increased flexibility instead of a regular
savings schedule.
You have total control - you determine how much you want to contribute and
when you want to make your contributions. You can also continue to make contributions
for a longer period of time.
With the Individual Plan, you can open a plan for a child of any age and make
contributions to the end of the 21st year of the Plan.
With the Family Savings Plan you can open one plan for one or more of your
children (including adopted) in your family under the age of 21. Contributions
to the plan can be made up to each child's 21st birthday or to the end of the
21st year of the plan, whichever comes first. All investments, including the
CESG for each child are combined in one plan. Best of all, you have complete
flexibility in sharing the CESG and investment earnings among the beneficiaries
of the plan, based on the amount of funding each child will need for their chosen
field of study.
The Individual and Family Plans are easy to open with a minimum of $150 initial
contribution (waived for children eligible to collect a
Canada Learning Bond).
Historical Return On Investment
The Individual and Family Savings Plans offer more flexibility than our Group
Savings Plan. The trade-off for this increased flexibility is that the return
on investment is not as high as with the Group Savings Plan. Unlike the Group
Saving Plan, the funds are invested short term.
HISTORICAL ANNUAL COMPOUNDED RETURNS FOR
THE INDIVIDUAL SAVINGS PLAN*
|
| PERIOD |
1 YEAR |
3 YEARS |
5 YEARS |
| RATE OF RETURN |
3.9% |
3.6% |
4.1% |
HISTORICAL ANNUAL COMPOUNDED RETURNS FOR
THE FAMILY SAVINGS PLAN*
|
| PERIOD |
1 YEAR |
3 YEARS |
5 YEARS |
10 YEARS |
| RATE OF RETURN |
4.4% |
4.4% |
4.4% |
4.9% |
*The investment returns have been calculated using market values
and time-weighted cash flows during the periods and do not take into account
expenses incurred by the plans. Past returns of the plans do not necessarily
indicate how it will perform in the future.
