Notice #966 - Saskatchewan Advantage Grant for Education Savings (SAGES) cancellation
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Information bulletin
Number: CESP/PCEE‑2022/23‑004-966
Date: October 03, 2022
Subject: Saskatchewan Advantage Grant for Education Savings (SAGES) cancellation
Purpose
To inform Registered Education Savings Plan (RESP) promoters of the key dates related to the cancellation of the SAGES.
Background
In notice #941, the Canada Education Savings Program (CESP) advised promoters of the Government of Saskatchewan’s intention to cancel SAGES.
Key dates
- August 31, 2023: The last date a promoter can process any SAGES transactions. Promoters must submit these transactions through the CESP’s secure electronic processing system by September 6, 2023
- September 1, 2023: Promoters must convert all SAGES held in RESPs into accumulated income on this day
- October 1, 2023: The CESP processing system will reject any submitted SAGES transactions starting on this day
Until September 1, 2023, all other rules regarding the administration of the SAGES remain in force as indicated in the RESP Provider User Guide.
Next steps
Further instructions on converting the SAGES into accumulated income will be available soon.
Subscribers are no longer able to apply for SAGES. As such, we ask that promoters stop publishing any SAGES related promotional materials, including website references and promotional cards.
Contact us
If you have any questions regarding this notice, please contact us:
- by using our online contact page
- by telephone at 1‑888‑276‑3624
- by e-mail at cesp‑pcee@hrsdc‑rhdcc.gc.ca
Our business hours are from 8 am to 5 pm, Eastern Time.