Email From Terry Thibaul to USC

All I have is one simple question. If the plan is so wonderful and USC is a not for profit organization, why in the world would you not allow an individual to transfer his or her money in full to another RESP plan? After all isn't this for the children and their future.

When I put my money in other RESP plans and or other investments no one charges such exorbitant fees for plan closures. I believe your missing the point. USC is not taking the money from me or Fadil or whoever else wishes to leave USC, USC is taking the money from our children and their future, just because we want the option to transfer to another plan. I do believe most people, when given the facts clearly laid before them, would not choose the USC option.

I personally have opted for another RESP option that allows me to transfer my CHILDS!!! education money to another education plan which dosen't penalize me with outrageous fees. I firmly believe we need to introduce legislation protecting parents and their children from organizations who seem to think that it is perfectly acceptable business practice to take from one child's education to give to another.

Do you see anything morally wrong with this? I hope so. Isn't USC also investing the sums of money I and every parent who has one of these plans. Shouldn't this be the money which is paying for my childs education. I also don't believe the 11% figure. Maybe the plan is making this kind of money but I doubt we'll see this when it comes time to draw from the plan. I'm sure there's going to be more fees and when all is said and done who knows what the real return is. Giving me happy people's names gives me no confidence in your plan. I don't know who these people are, they could be employee's or someone really naive or someone who really doesn't mind the potential of losing lots of their children's education money. What I would like to have is a random sampling of USC clients to find out if these people really know all the facts. Not the usual bunch of 'Yes it's the finest plan since sliced bread' yes men.