When Will Cda Account Be Closed?
2) Cda Closes When Your Child Turns 13 Year's Old So While the Cda Is Useful as a First Account for Your Child to Receive the Government Aid, It Has Its Limits...
What happens to CDA account after 12 years old?
When the CDA is closed at the end of the year the child turns 12, any unused CDA balance will be transferred to the child's Post-Secondary Education Account (PSEA). Parents can continue to save in the PSEA if they have not saved up to the CDA cap for Government matching contributions.
What happens if CDA expires?
Upon closure of the CDA on 31 December of the year the child turns 12, the CDA balance will be transferred to the child's Post Secondary Education Account which is administered by the Ministry of Education.
Alexander Ross has covered the video game industry for a decade, writing deep dives on game design, esports tournaments, VR developments, and gaming culture.
