Jim wants to set up an RESP for his baby daughter. Which statement regarding individual plans vs. pooled plans is FALSE?

Focusing on the provided statements, the one that asserts that the subscriber of a pooled plan may receive some of the invested funds as payments if the child does not pursue post-secondary education is misleading. In a pooled plan, the funds are typically contributed by multiple subscribers and are managed collectively. The general structure of these plans is designed in a way that the subscriber does not have a direct claim to the funds if the intended educational purpose is not fulfilled. The funds are generally held for educational purposes, and if the beneficiary does not proceed with post-secondary education, the options are limited, often resulting in forfeiting some of the grants or earnings.

In contrast, individual plans offer the subscriber greater control over their investments, allowing them to determine how funds are allocated. Individual plans also typically allow for flexible contribution amounts, meaning that the subscriber can adjust their contributions based on their financial situation. Additionally, pooled plans can indeed often have lower fees because the administrative costs are spread over a larger number of accounts. All of these features contribute to the differences between individual and pooled education savings plans.