Registered Education Savings Plan

Registered Education Savings Plans provide long term planning and investment for your children's education.

  • Your investment grows tax-free until your child (the beneficiary) starts their post-secondary education, needs the funds and begins making withdrawals.
  • Although the investment grows tax free, government contributions and accumulated earnings from an RESP count as taxable income for the beneficiary, but as a student, they'll be charged little to no tax.
  • No administration fees and no minimum contributions
  • Earn additional money through government grants like the Canada Education Savings Grant (CESG) and the Canada Learnings Bond (CLB)
  • Investment options include mutual funds* and term deposits
  • RESPs make a great gift option because anyone can open an RESP for a child

Learn more about Investing in RESPs and about other things to think about when Going to School.

How long will your beneficiary's RESP last? Use our RESP Calculator to find out!

Contact your branch to set up an RESP today.


*Mutual funds are offered through Credential Asset Management Inc. Mtual funds and other securities are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.