Frequently Asked Questions

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Unit Trusts

Cancelling a RSP

1. Can I cancel my RSP?
2. Are there any charges for cancellation?
3. Under what circumstances will my RSP be terminated by finatiQ?
4. How do I redeem my units bought under RSP?
5. If I am participating in the RSP and I subsequently redeem all my holdings, will my RSP be automatically discontinued or do I need to submit a RSP cancellation form?

Question1: Can I cancel my RSP?
Answer:

Yes. Send finatiQ instructions by completing the "Regular Savings Plan (RSP) Cancellation Form". The form must reach finatiQ at least 1 week before the next scheduled investment, failing which an investment will be made. The termination instruction will come into effect for the subsequent scheduled investment.

Similarly, for online cancellation, please log into your finatiQ account, under the left navigation bar, click "Unit trust", "UT transact", "Regular Savings Plan" and select the RSP you wish to cancel. The cancellation should be submitted at least a week before the next scheduled investment, failing which an investment will be made. The cancellation instruction will come into effect for the subsequent scheduled investment.

Question2: Are there any charges for cancellation?
Answer:
There are no charge for cancellation/termination of a RSP subscription instruction.

Question3: Under what circumstances will my RSP be terminated by finatiQ?
Answer:
The RSP will be terminated after 2 successive failed scheduled investments. The scheduled investment can fail to take place due to insufficient funds in the finatiQ Investment Account, CPF or SRS accounts. Unless the RSP has expired, email reminders will be sent prior to the termination.

Question4: How do I redeem my units bought under RSP?
Answer:
The redemption procedure for units bought under RSP is the same as for any normal unit trust redemption. Log in as an account holder, click "Unit Trust", select "UT Portfolio". Select the fund to be redeemed and indicate the number of units to be sold (or select "full redemption" to sell all holdings of the fund). Submit the order.

Question5: If I am participating in the RSP and I subsequently redeem all my holdings, will my RSP be automatically discontinued or do I need to submit a RSP cancellation form?
Answer:

You need to submit a RSP cancellation form.

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