RESP (Registered Education Savings Plan)

Save for your children’s education

An RESP is to education what an RRSP is to retirement: it allows you to build up tax-deferred savings to put toward your child’s post-secondary studies. With an RESP, you give the most precious gift there is to your child, grandchild, niece or nephew: a promising future.

A practical plan that allows you to:

  • Plan for your children’s education.
  • Grow your savings tax-free up to a maximum of $50,000.
  • Benefit from a federal government grant equivalent to 20% of your annual contribution up to $500 per year, deposited into your RESP.
  • Receive a provincial government grant if you live in Quebec or Alberta. The Quebec program offers a refundable tax credit equivalent to 10% of accrued savings, up to a maximum of $250 per year.

A flexible plan

  • If your child does not pursue higher education, you can:
    • Designate another child or make a donation.
    • Withdraw your original contributions tax-free.
    • Transfer your investment income to your RRSP under certain conditions.

What is the best way take advantage of the government grants?

Taking out an RESP loan is a brilliant way to make your savings grow.

Why choose an RESP with us?

We offer two advantageous education savings products:

  • My Education, which gives you access to a wide range of investment funds (segregated funds and guaranteed interest funds)
  • Diploma, which offers you an education bonus of up to 15% of your RESP contributions upon fulfillment of your monthly deposit commitment