RESP Registered Education Savings Plan

One of the best ways to save for a child’s postsecondary education is through a Registered Education Savings Plan.

RESP whether you want to save for your own children, your grandchildren, a niece, nephew, or family friend, an RESP offers flexibility tax deferred investment growth and direct government assistance to help you save for a child’s education.



RESP interest income and investment growth earned within an RESP are not taxed as long as the funds remain in the plan.



The Canada Education Savings Grant CESG matches 20% on the first $2,500 contributed annually to a maximum of $500 a year $7,200 overall for a child under the age of 18, plus possible catch up on CESG Grants.



Canada Education Savings Grant CESG Federal Government pays a subsidy for each Child that is a Beneficiary of an RESP from the day the Child is born, until his/her 17th Birthday.



The current annual maximum CESG per beneficiary is $500 (i.e., 20% of the first $2,500 of contributions paid annually). Each child is entitled to a cumulative limit of $7,200.


A family that did not contribute to its child’s RESP for a year or more can receive a grant of not more than $1,000 as a CESG in a year (i.e., on a maximum contribution of $5,000).


The maximum annual grant on the first $500 contributed per child is increased slightly for low- and mid-income families.



The RESP will be required to repay CESG money in certain situations, such as when a beneficiary does not pursue higher education or the plan is terminated.


Moi ‘brave kido!






Global Education Volunteer ‘2011-2012

Nicaragua & South Africa!

Vernon BC Canada, Secondary Junior High School