Registerest Education Savings Plan (RESP)
Smart savings for a bright future
Planning for your child’s post-secondary education
RESPs are tax-sheltered savings plans registered by the Canadian government. They are a great way to invest in college or university and your child’s future.
BENEFITS
CALCULATOR
Why start an RESP?
Get FREE money
The federal government adds to your savings through the Canada Education Savings Grant.
Every year, 20% of every $2,500 is matched – up to a lifetime maximum of $7,200 per child.
Maximize your investment
Contributions grow tax free in the RESP so your savings grow faster.
Pay less tax
When post-secondary starts, funds withdrawn are taxed in the child’s name so students with little or no income won’t pay much tax on the withdrawals.
Access additional grants
Lower income families may also qualify for the Canada Learning Bond.
No downside
If the child doesn’t pursue a post-secondary education, you have options.
Get in touch with a Member Consultant
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