Registered Education Savings Plan

I'm ready to start an RESP. Book an appointmentIt’s never too early to start saving for your child’s post-secondary education! Opening a Registered Education Savings Plan (RESP) gives you one less thing to worry about for your child's future.

RESPs can be invested in mutual funds offered through Aviso Wealth, or in guaranteed investments. No matter where you put your RESP, it’s a perfect opportunity to build a bright future for your child and receive government help along the way.

Benefits of a RESP

Government money can help jumpstart your RESP savings:

  • Canadian Education Savings Grant (CESG): The federal government matches 20% of your RESP contributions, up to $500 each year until the child turns 17, up to a lifetime limit of $7,200 per beneficiary.
  • Additional Canadian Education Savings Grant (CESG): Depending on your income, earn an additional 10-20% on your first $500 annual contribution.
  • Canada Learning Bond (CLB): The CLB is available on RESPs for children born after 2003 whose family receives the Canada Child Benefit (CCB). As long as the parent or guardians qualify and continue to receive CCB, the government will provide an additional $100 each year until the child turns 15. There’s also a one-time $500 grant you’ll receive just for opening a RESP! If you qualify, you can get up to $2,000 for your child’s RESP.
    • Contribute a lifetime limit of $50,000 per beneficiary.
    • Withdrawals of the government contributions and accumulated earnings from a RESP will count as taxable income for your child, but as a student, they’ll be charged little or no tax.
    • No minimum contributions.
    • Anyone can open a RESP for a child – making it a great gift option!

    RESP Calculator

    See how quickly your child’s educational savings can grow with our calculator.

    Great advice

    Let us help you decide which plan is right for you: an Individual RESP versus a Family RESP. Plus, find out how you can maximize the benefits of your RESP and what to do if your child decides to not attend school after high school.

    Talk with an advisor or invest online

    Start or move your RESP today by contacting an Affinity Wealth Management Specialist at 1.866.272.2521, take the virtual route by opening a RESP online through our partners, Qtrade Direct Investing or Qtrade Guided Portfolios or book an appointment online!

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    *Online brokerage services are offered through Qtrade Direct Investing. Mutual funds and other securities are offered through Aviso Wealth. Qtrade Direct Investing, Qtrade Guided Portfolios and Aviso Wealth are divisions of Aviso Financial Inc.