RESP transfers
Moving an RESP does not cost you the grant. Staying put might cost you more.
A direct transfer carries your contributions, the grant already paid, and your remaining room across untouched. Here is exactly how it works, what to watch for, and what the move is worth on your own plan.
The transfer, step by step
- 01
Pick the destination
The receiving institution must be able to accept the same plan type — individual or family — and the same beneficiaries.
- 02
Sign the direct transfer form
You complete it with the receiving institution and they send it to your current provider. You never withdraw anything yourself.
- 03
The plan ships across
Contributions, the grant already paid, the growth, and the record of your remaining grant and contribution room all move together.
- 04
Check how the money travels
Investments are sold or moved in kind depending on the plan. A sale inside the plan is not taxable, but older funds can carry a deferred sales charge.
- 05
Confirm the grant record landed
The receiving institution should show your lifetime CESG paid to date. This is the single line most worth checking after the move.
Three things to ask before you sign
- What is the exit cost, in dollars, on the funds I hold today?
- Is this an eligible transfer, so no grant is repaid?
- Will my plan be out of the market during the move, and for how long?
What would the move actually be worth?
Same contributions, same government grants, on both sides. The only difference is the fee and the track record.
Step 1 — where is it today?
Banks
Online / robo
Discount brokers
Insurers
Advisor firms
Step 2 — what's in it?
Step 3 — the numbers
Projected difference by age 18
$90,489
Same contributions, same government grants, same child. The only things that change are the fee you pay and the track record behind the portfolio. Left to run to age 25, the gap is $282,285.
Where it sits today
RBC — balanced portfolio
Representative branch-sold Series A portfolio · 60% equity / 40% fixed income
- Fee (MER)
- 1.94%
- 10-yr return
- 7.10%
- Value at 18
- $120,079
- Fees paid by then
- $16,908
Published figure from the fund company's own Fund Facts (as of May 31, 2026), net of MER.
Check the source
Figures transcribed from RBC Select Balanced Portfolio (Series A).
Fund companies restate returns monthly. If the source page shows a newer figure than ours, the source page is right — tell us and we'll update it.
Managed with us
Optimize Growth Balanced Portfolio
57% equity / 20% fixed income · managed in partnership with Optimize
- Fee (all-in)
- 1.70%
- 10-yr return, net of fees
- 12.37%
- Value at 18
- $210,568
- Fees paid by then
- $20,940
Return advantage
+5.27% / yr
Fees saved by 18
-$4,032
Grant captured
$7,200
We take on new families by application. A 20-minute review confirms the numbers on your actual statement before anything moves — no obligation, no paperwork today.
A transfer doesn't cost the grant. RESPs move between institutions on a direct transfer form — the contributions, the CESG already paid, and the contribution room all come with it. It's paperwork, not a restart.
How this comparison is built
- Both sides use identical contributions and the same Canada Education Savings Grant schedule, so the only differences are fees and historical return.
- Comparison portfolios are representative of each institution's published retail portfolio for the risk level you chose, using their disclosed MER and 10-year annualized return net of that MER. They are illustrative, not a specific recommendation, and not every series or fund at that institution will match.
- Optimize figures come from the published fund reports as of 30 April 2026. We subtract the account-level management fee from the published return so both sides are shown after all fees.
- The chart's year-to-year swings are simulated from each portfolio's equity/fixed mix so it reads like a real market; the ending values follow the published annualized returns.
- Past performance does not guarantee future results. This is an illustration for discussion, not investment, tax or legal advice.
Common questions
- Do I lose the government grant if I transfer my RESP?
- No, not on a direct transfer between institutions where the beneficiary and plan type stay compatible. Contributions, the CESG already paid, and your remaining room all move with the plan. Grant is only repaid when a plan is collapsed and money is withdrawn for something other than education.
- When does an RESP transfer trigger grant repayment?
- Mainly when the transfer is not eligible: for example moving into an individual plan for a beneficiary who does not meet the sibling rules, or a partial transfer that breaks those conditions. Your receiving institution flags this before the paperwork goes in, so ask the question directly before you sign.
- How long does an RESP transfer take?
- Typically two to six weeks. Group scholarship plans and older deferred-sales-charge funds are usually the slow cases, and are also the ones where an exit fee is most likely to apply. Ask for the exit cost in writing before starting.
- Is it worth transferring an RESP for lower fees?
- It depends on the fee gap, the years left before the child starts school, and any exit charge. Run your own numbers in the comparison tool below: it applies identical contributions and grants on both sides, so the only thing that differs is the fee and the track record.
Not sure the fee gap is big enough to bother? See what each institution charges.