It refers to an amount generally paid to a member, it includes that amount drawn from the money which he earned from the contributions , and that money withdrawn form a registered education savings plan (RESP) if its heir refuse to attend college.
In RESP, contributions are tax free until the money will withdrawn , at the time of withdrawn taxes are low or absent since student have little to no income.If the heir chooses not to go to college ,the income through investment which is earned in earned in the RESP will not lose until and unless if the member( generally the student’s parent) is the citizen of Canada at the time of withdrawal . basically it is the Canadian registered education savings plan .The criteria of age for this is RESP is at least 10 years old and the heir is at-least 21 years old. An accumulated income payment can also be made if the heir is recently died. Accumulated income payments are not allowed under all types of RESP’S.