Registered Education Savings Plan

RESP

Invest in Their Future

Understanding your RESP

The Registered Education Savings Plan (RESP) is a tax-sheltered savings account designed to help you save for a child's post-secondary education, boosted by government grants.

Best Suited For

Parents and Grandparents

Guardians saving for a child's future

Families wanting free grant money

Students planning for higher ed

At a Glance

Tax StatusTax-Deferred

Grant Match20% on first $2.5k

Lifetime Limit$50,000 / child

Primary UseEducation

Why choose a RESP?

Key advantages designed to help you reach your goals faster.

Free Government Money

Get the Canada Education Savings Grant (CESG) of 20% on the first $2,500 contributed annually.

Tax-Deferred Growth

Investment earnings grow tax-free until withdrawn by the student, who usually pays little to no tax.

Flexible Usage

Funds can be used for tuition, books, housing, and other education-related expenses.

Account Rules & Features

Everything you need to know about how your RESP works.

Lifetime contribution limit of $50,000 per child

Maximum CESG grant of $7,200 per child

Additional grants available for low-income families

Plan can stay open for up to 35 years

Need help deciding?

Our financial advisors can help you determine the best investment strategy for your unique situation.