Why is there a difference between my child's Child Development Account (CDA) closing balance and Post-Secondary Education Account (PSEA) opening balance?
There are two possible reasons for this difference:
If you saved in the Child Development Account (CDA) after 15 Dec of the year your child turns 12, you would have received the Government co-matching amount in the Post-Secondary Education Account (PSEA) and not in the CDA; or
If your CDA savings was above the child's PSEA cap, the excess CDA balance (ECB) would not be transferred to the PSEA. Instead, it would have been refunded to the CDA trustee.
Related questions
What happens to the Child Development Account (CDA) balance after my child’s CDA is closed?
Can I still receive Government co-matching after my child’s Child Development Account (CDA) is closed?
Why was my Child Development Account (CDA) saving not co-matched by the Government before the CDA closed?
I have saved above the Child Development Account (CDA) Government co-matching cap. Will the excess be transferred to Post-Secondary Education Account (PSEA)?
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