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Save for their future with an RESP

A Registered Education Savings Plan (RESP) is a tax-sheltered government plan designed to help you save for a child’s post-secondary education, whether your own child, a grandchild or the child of a friend. Save up to a maximum of $50,000.

Father and son having fun.

Benefits of an RESP



Tax-free earnings – RESP earnings grow tax-free until the beneficiary withdraws them for education.

Lower taxes – Contributions are tax deductible, so investing in an RESP will reduce your annual income tax. Then, as the beneficiary begins higher education, they will typically be in a low tax bracket and will pay a lower tax rate on earnings.

Deposit insurance – Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Learn more



Anyone can contribute – You can helpful safeguard the future education for any young person in your life – be it a niece, nephew, child of a friend, or your own child.

Invest what you can – Even small automated payments from your chequing account will add up to a substantial contribution over time, with no stress.

Benefit from the Canada Education Savings Grant – The federal government will contribute up to a lifetime maximum of $7,200 to your child's plan. 



No matter your plans for higher education, we can answer your questions and help you prepare for your children's futures. 


Use our RESP calculator to estimate how much you should set aside before the child starts school, and how government grants will help your savings.