A Registered Education Savings Plan (RESP) is a long-term 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. Contribute up to a lifetime maximum of $50,000.
Tax-free earnings – RESP earnings grow tax-free while inside the plan.
Any adult can contribute – You can help support the future education of any young person in your life, be your own child, a niece or nephew or the child of a friend.
Deposit insurance – Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Learn more.
Invest what you can – Even small automated payments from your account will add up to a substantial contribution over time, with no stress.
Benefit from the Canada Education Savings Grant – The federal government will pay up to a maximum of $7,200 into your child's plan. This benefit depends upon contributions.
Benefit from the Canada Learning Bond – The federal government gives up to $2,000 per child to help low-income families. Contributions are not required to receive this benefit.
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.
