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Reminder: Diploma RESP closing soon for new sales

April 27, 2023

For guaranteed processing, Diploma applications and PAD increase requests must be received by May 12, 4pm (ET).
As previously announced, the Diploma RESP product will no longer be available for new sales from May 26, 2023, 4pm (ET).
Existing clients will maintain their contracts, and monthly pre-authorized debits (PADs) will continue as usual.
Key dates

Deadline to ensure processing by May 26:

  • Increase Diploma PAD amount
  • Confirm electronic Diploma applications
  • Receive paper Diploma applications at head office
  • Applications: the first monthly PAD must be made by June 30, 2023. 

May 12, 2023 
4pm (ET)

Requests received later may be processed on time, though this cannot be guaranteed.

Diploma product closed to new sales and PAD increases no longer possible.

May 26, 2023
4pm (ET)

We will refuse requests received after this date.


After May 26, 4pm (ET):

Clients with a Diploma RESP will no longer have the option to increase their monthly PAD amount. They may, however, continue to make lump-sum contributions to their RESP.

No action is required by the advisor or the client. 


Between now and May 26

It is important to consider the impact of selling a product for which a change will soon take effect. Before closing a sale of the Diploma product, the client must be aware of the upcoming changes.

Now is the time to make My Education+ your go-to for education savings! 

  • All available federal and provincial grants
  • Flexible contributions based on your client’s budget and goals
  • Family and individual plans 
  • Access to all Classic Series 75/75 segregated funds, including managed and index solutions 
  • Eligible for Prestige Preferential Pricing 

Visit ia.ca/SellRESP to learn more!




Topic : Savings

Written by iA

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