If there are unused funds in the Child Development Account (CDA) at the end of your child's 12th year, the funds will be automatically transferred to your child’s Post-Secondary Education Account (PSEA), up to the PSEA cap applicable to your child.
 
The maximum amount that can be transferred to the PSEA is the sum of the following:

(i)    CDA Government co-matching cap;

(ii)   Maximum deposits from parents or third parties that can be co-matched;

(iii)  CDA First Step Grant (if any);

(iv)   Child Development Credit (if any); and

(v)    Bank accrued interest.

If there are excess funds above the PSEA cap, i.e. excess CDA balance (ECB), MSF will send a letter to the CDA trustee with instructions on the ECB transfer process.