Registered Education Savings Plan (RESP)

Registered Education Savings Plan (RESP) helps you save for your children’s post-secondary education. It is a very powerful tool for parents to save for their children's education.  It has tax-free growth, offers flexibility and helps you plan and save many years in advance so you are surprised with the expenses when children are ready to go to College or University.

Why RESP?

RESP program from the Federal government encourages parents to save for their children for their higher education by giving 20% of their deposit up to the lifetime maximum of $7200.00. If the parents/family income is lower than the specific income threshold, they can qualify for an additional 5%-10% on their first $500.00 annual contribution. Low-income families can also qualify for CLB (Children Learning Bond) up to $500.00 and if they are still receiving a Child tax benefit, they can also qualify for an additional $100.00 in those years.

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One of the RESP providers we work with pays extra up to 15%  on the contributions the parents make on top of what they receive from the government.

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We also have another active promotion where we are offer no advisor sales fee option so you can save more of your money by investing with us.

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Depending on where you purchase the plan, you get different investment options:

Savings deposits

Treasury bills

Guaranteed investment certificates (GICs)

Equities

Mutual funds

Segregated Funds

Bonds