Times have changed,
so have we!

Universitas becomes Kaleido! This new chapter of our story starts with a new mission: Help each child achieve their full potential by accompanying them on their journey towards imagining a brighter future.

We are pleased to introduce Kaleido, education savings that go beyond education savings.

Read our press release

A new image focused on children’s best interests

Inspired by the kaleidoscope – a tube filled with crystals that reflects light and creates an infinite variety of colourful patterns – the name Kaleido evokes the multitude of future paths open to our young people.

The organization therefore reaffirmed its commitment to educational success and the development of a better-educated society.

A path that stays true to our purpose

A World Of Possibilites

Our purpose was clear 55 years ago: we wanted to motivate as many young people as possible to pursue a university education. Today, our children have a myriad of possibilities to forge a path in their image.

From this kaleidoscope of opportunities, KALEIDO was born.

The Kaleido Promise

Beyond offering a financial product, what really drives us at Kaleido is the conviction all children can achieve their full potential when given the means, whether these translate into funds for school, or support to persevere in their learning despite various challenges.

That’s why at Kaleido, we do our utmost to support families on their children’s journey towards post-secondary education, whatever path they choose.

Will My RESP Be Affected?

Not at all. Different name, same leading expertise.

Your RESP hasn’t been transferred or altered. You stay entitled to the same government grants, the same flexibility at the time of post-secondary education and the same service from our professional team.

The early stages of this major transformation

This rebranding follows on the heels of the 2017 relaxation of the eligibility criteria for education assistance payments (EAPs). This overhaul of the RESPs was designed to better meet families’ needs and expand access to EAPs.

  • Starting in 2010, more and more young people pursuing post-secondary education were going into vocational programs (Vocational Studies Diplomas) or CEGEP technical programs rather than university studies. As the terms and conditions for making withdrawals from group plans were rather strict, a significant proportion of subscribers expressed a desire for greater flexibility in terms of EAPs withdrawals.
  • Successive adjustments were made to the Kaleido education savings plans. The main change involves extending PAE funding to a wider range of eligible programs—beyond just university programs—which was implemented following a majority vote by subscribers in October 2017.
  • This relaxation of EAP allocation criteria sparked discontent among some subscribers, as well as a veritable media storm surrounding Kaleido, despite the fact that this relaxation would enable more young people to benefit from EAPs for their post-secondary studies.
  • In response to this dissatisfaction, the Autorité des marchés financiers (AMF) called for a second vote by subscribers in order to make them more aware of the impact of the measures then being proposed by Kaleido. The result of this second vote, once again overwhelmingly in favour, enabled Kaleido to confirm the relaxation of the EAP allocation criteria and deliver more than $22 million in additional EAPs to beneficiaries in just over a year.
  • By mutual agreement with the AMF, Kaleido also set up a $1.5 million fund to mitigate the potential impact of the relaxation of EAP allocation criteria on the accounts of some policyholders. KPMG and the Honourable Paul Vézina, a retired judge, took on the responsibility of assessing and awarding the compensation.

FAQ

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