Registered Education Savings Plans (RESPs)

A registered investment account to save for your child's education.

Growth: Expand/Collapse

"Your annual contribution grows more with the government grant."
- Eligible for Canada Education Savings Grant (CESG):

  • Contributions to eligible RESP beneficiaries receive a 20% grant for the first $2500 deposited each year to age 17.
  • Lifetime maximum grant per beneficiary $7,200.
  • Lifetime maximum contribution per beneficiary $50,000.

"Your RESP grows faster as investment returns are tax deferred until the beneficiary makes an eligible withdrawal."
- Tax sheltered until withdrawn.

Flexible: Expand/Collapse

"You have many investment options available."

  • Multiple options:
  • Fixed or variable rates.
  • Fixed or variable maturity dates.
  • Individual or Family Plan available.

"You can carry over unused contributions to future years."
- Catch-up annual contribution maximum of $5,000 and CESG annual maximum of $1,000.

"You have options for the funds if your child decides not to attend post-secondary education."
- Options available.*

Affordable: Expand/Collapse

"You can easily get started to save for your child's education."
- Minimum automatic transfer amount of $25 per month.

Convenient: Expand/Collapse

"You can set up scheduled preauthorized deposits."
- Automatic transfers.

Additional Information

- See your investment specialist for complete details
- Your child needs a Social Insurance Number (SIN) to qualify
- See more information on education savings

Who might benefit from this product/service?

Anyone who wants to save for their child's education.

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