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Invest in your child’s future with RESP

Putting a child through school is one of the biggest costs families can face. Post-secondary education can be the key to unlocking opportunities in life. However, as the cost of living has increased over time, so has educational expenses at post-secondary institutions. Financing these costs can be concerning for many parents to be able to afford to send their children to college or university.

A Registered Education savings Plan (RESP)

In addition, RESPs may receive the Canadian Education Savings Grant (CESG), The basic Canada Education Savings Grant (CESG) will top up your annual contribution by 20% which goes up to a maximum of $500 each year for each beneficiary. Additional CESG grants may be available depending on your income. You may be eligible for the other government incentives mentioned below to help you increase your savings which include:

BASIC Canada Education Savings Grant (CESG)

  • Matches 20% of the first $2,500 contribution each eligible year for each beneficiary
  • Maximum per year is $500 (carrying-forward grant room can allow up to $1,000 per year)
  • Maximum per beneficiary is $7,200 over the life of the plan

Additional CESG

The additional amount of Canada Education Savings Grant (CESG) is money provided by the Government of Canada for Canadian children from low-income and middle-income families.

  • An additional 10 or 20 per cent on the first $500 per year (over and above the Basic CESG)
  • Maximum $100 per eligible year, but carry-forward of Additional CESG is not available
  • Included in the CESG maximum per beneficiary of $7,200
  • For Family Plans only, all beneficiaries must be siblings

Canada Learning Bond (CLB)

For beneficiaries born in 2004 or later, whose primary caregiver in receipt of the National Child Benefit Supplement

  • $500 initial bond plus $100 per eligible year up to age 15 of the beneficiary
  • No contribution required

BC Training and Education Savings Grant (BCTESG)

  • To be eligible for the $1,200 the child was born in 2006 or later
  • Child and custodial parent or legal guardian must be residents of BC
  • The child is the beneficiary of a Registered Education Savings Plan (RESP) with a participating financial institution
  • An application must be filed between the beneficiary’s 6th and 9th birthday


Canada Learning Bond

As a parent, you do your best to help your child succeed. You may have already started thinking about your child’s education after high school.The Government of Canada can help you save in a Registered Education Savings Plan (RESP).

Canada Education Savings Program

Are you thinking about opening a Registered Education Savings Plan (RESP) to finance your child’s post-secondary education? This pamphlet will walk you through the process

RESP:Plan your child’s education

Do you imagine yourchild continuing in their education after high school? The Government of Canada can help you save for your child’s future with a Registered Education Savings Plan (RESP).

Book a face-to-face complementary consultation with us to discuss your Investment needs.