RESP
RESP
A Registered Education Savings Plan (RESP) helps families save for a child's post-secondary education, with government grants and tax-deferred growth giving your savings a valuable head start.
Key benefits of an RESP
Government grants (CESG)
The Canada Education Savings Grant adds 20% on your annual contributions, up to $500 a year. Eligible families may qualify for enhanced grants.
Tax-deferred growth
Investment earnings grow tax-free while they stay inside the plan.
Tax-efficient withdrawals
Educational assistance payments are generally taxed in the student's hands — usually at a very low tax rate.
Flexible contributions
Parents, grandparents, relatives and friends can all contribute toward a child's education.
Wide range of programs
Funds can be used for university, college, trade schools, apprenticeships and many other qualifying programs.
Generous lifetime limits
Contribute up to $50,000 per child and receive up to $7,200 in CESG grants.
Who it's for
Parents, grandparents and family saving for a child's education.
Grant rates and contribution limits are set by the Government of Canada and can change year to year — we'll confirm the current figures with you.
Not sure which account fits? See all Investments & Savings.Explore other coverage
Common questions
What makes your service different? +
One dedicated advisor handles your file end-to-end — comparing insurers, preparing the paperwork, explaining it in your language, and staying reachable on WhatsApp. No call-centre, no runaround.
How fast can I get a quote? +
Send us your details through the quote form or on WhatsApp and an advisor typically replies the same business day.
Which languages do you speak? +
We assist in English, Hindi and Punjabi.
Ready to protect the people you love?
Message us on WhatsApp or call — a real advisor answers, no obligation.