Registered Educational Savings Plan
Children give us a reason to live and a thousand reasons to hope. And also a desire to provide them with all the tools they need to succeed personally and professionally.
Build up a tax-sheltered fund to finance a child’s postsecondary education. A registered education savings plan (RESP) is the ideal financial vehicle to meet the job market’s education requirements and help you defray mounting education costs.
Who Should Consider an RESP?
- Any person who is concerned about the future of a beneficiary (generally a child)
- You may designate a child, grandchild, nephew, niece, etc. as the beneficiary of an individual plan. There is no restriction on the relationship between the child and you.
- For family plans, beneficiaries must be related to the subscriber by blood or adoption.
Features and Advantages
- An RESP is made up of subscriber contributions, eligible government grants, and investment income.
- Beneficiaries obtain an tax deferral on their investment income.
- To help you build the most valuable nest egg, you may be eligible for various grants for which we can apply on your behalf. (Click here to learn more about government assistance programs.)
When the big day comes to start postsecondary studies, beneficiaries will receive their educational assistance payments to support them in their future success.