RESP

Registered Education Savings Plan

Help your child reach higher, by giving them a boost

Key Features

Automate your saving strategy

Automate your saving strategy.

Tax deferred growth

Growth will be accelerated due to deferred tax structure.

Government assistance

Government grants and bonds are available to boost the growth of the plan.

No hidden Fees

No commission charged or administration fee.

Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds, other securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated.

Frequently Asked Questions

What is a Registered Education Savings Plan?

A Registered Education Savings Plan (RESP) is a government sponsored registered plan that helps you save for a child’s post-secondary studies.

What are some of the main benefits of opening an RESP?

The funds accumulated grow tax-free within an RESP. The Canada Education Savings Grant (CESG) provides additional educational funding. The lifetime CESG is $7,200 per beneficiary. RESP accounts can remain open for up to 36 years. This is a key feature if the child does not decide to purse post-secondary studies right after high school.

What is the Lifetime Contribution Limit for an RESP?

The lifetime contribution for each child is $50,000 with no annual contribution limits.

Can I open an RESP for one child, then add another sibling to the plan in the future?

Yes, you can open a Family RESP Plan for the first child. Then add the sibling to the same Family RESP Plan in the future. A Family RESP Plan can have multiple beneficiaries, who must be related by blood or adoption to the contributor.