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Registered Education Savings Plan (RESP)

Set your child up for future success.


Why invest in an RESP?

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Shelter investment growth

Your child won’t pay tax on investment income until they withdraw it for school, ensuring their savings grow faster.

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Take advantage of government grants

The government wants to support your child’s future, offering grants to boost the savings you set aside.

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Save with help from anyone

Grandparents, aunties, uncles and even friends can add to your child’s education savings.

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Invest your way

Your RESP can hold a variety of investments, including mutual funds, term deposits and even savings accounts.

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It’s never too early to start saving for your child’s post-secondary education. We can help.

What is a Registered Education Savings Plan (RESP)?

A Registered Education Savings Plan (RESP) is a special tax-sheltered savings account that allows you to save for a child’s post-secondary education.

Canada Learning Bond (CLB)

The CLB was designed to support lower income Canadians wanting to save for a child’s education. Qualifying families will receive $500 initially for opening the RESP without needing to make any contribution. Your child may also qualify for an additional $100 annually up to the age of 15, which could result in an additional $1,500 for an RESP.

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Canada Education Savings Grant (CESG)

Through the CESG, the federal government will match 20% of funds contributed to the RESP of an eligible child to a maximum of $500 each year and a lifetime amount of $7,200. This base amount of 20% matching is not dependent on income.  However, those from mid to lower income families may qualify to receive higher matching amounts of up to 40%.

Set up your RESP your way

Not sure if an RESP is what you need?

We'll be happy to help review your goals and see if an RESP is the right solution to reach them.

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Take a look at the latest competitive rates we offer for our investing solutions.
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See how RESP contributions, combined with government grants, will help your child’s savings grow.


Level up your financial know-how

Why the RESP deadline matters

The annual RESP deadline is December 31 – and, if you have kids, there are a few very good reasons to contribute.

Guide to saving & investing

Want to learn more about investing? Wish you could save more and spend less? This guide has you covered.

Get more genuine tips, tricks, andĀ helpfulĀ resources on our Honest Money blog.