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RESP

Registered Education Savings Plan (RESP) is a tax-advantaged savings program available to Canadian residents, designed to help parents and guardians save for their child's post-secondary education.

Features of the RESP

Grants

Canada Education Savings Grant (CESG): The government provides a matching grant of up to 20% on the first $2,500 contributed annually per child. Depending on the family's income, additional CESG grants may be available.

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Tax-Deferred Growth

Contributions made to an RESP grow tax-free until they are withdrawn. This allows the investment earnings to compound over time without being subject to annual taxation, maximizing the potential growth of the savings.

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Flexible Contribution Limits

There is no annual limit on RESP contributions, but there is a lifetime maximum of $50,000 per beneficiary. This allows parents to contribute based on their financial capabilities.

Carry-Forward of Grant Room

If the maximum Canada Education Savings Grant (CESG) is not received in a particular year, unused grant room can be carried forward to future years. This feature allows parents to catch up on missed grants 

Get started today and take advantage of all the benefits the RESP has to offer!

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Important Disclosures

 

iA Private Wealth Inc. is a member of the Canadian Investor Protection Fund and the Canadian Investment Regulatory Organization. iA Private Wealth is a trademark and a business name under which iA Private Wealth Inc. operates.

This is not an official website or publication of iA Private Wealth and the information and opinions contained herein do not necessarily reflect the opinion of iA Private Wealth. The particulars contained on this website were obtained from various sources which are believed to be reliable, but no representation or warranty, express or implied, is made by iA Private Wealth, its affiliates, employees, agents or any other person as to its accuracy, completeness or correctness. Furthermore, this website is provided for information purposes only and is not construed as an offer or solicitation for the sale or purchase of securities. The information contained herein may not apply to all types of investors. The Investment Advisor can open accounts only in the provinces where they are registered.

 

Products and services provided by third parties, including by way of referral, are fully independent of those provided by iA Private Wealth Inc.  Products offered directly through iA Private Wealth Inc. are covered by the Canadian Investor Protection Fund, subject to exception. iA Private Wealth Inc. does not warrant the quality, reliability or accuracy of the products or services of third parties. Please speak to your advisor if you have any questions.

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*Insurance products and services are offered through Oceanside Wealth Insurance Agency Inc., an independent and separate company from iA Private Wealth Inc. Only products and services offered through iA Private Wealth Inc. are covered by the Canadian Investor Protection Fund.

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