Registered Education Savings Plan – RESP
Investing in the education of your children is the best investment. Two third of the jobs today require a post-secondary education.
Protect your children from the burden of student loans; provide them with financial freedom so that they pursue their dream career.
Take advantage of the Grants by the Canadian government – Up to $ 7,200 per child. You can avail these grants only if you have RESP plan for your children.
The Canadian Government contributes to your RESP through the Canada Education Savings Grant (CESG).
You can contribute as low as $25 a month for the RESP of your child.
There is no maximum annual limit of contribution, however the maximum lifetime amount you can contribute for a child’s RESP is $ 50,000.
You have a vast selection of investment to maximize your returns.
Tax-free growth of your savings.
You can take out funds from your plan anytime you need, tax-free.
To be eligible for the Government’s grant, the child should have a Social Insurance Number (SIN) and must be a Canadian Resident.