RESPs are probably the best way to save for your child’s post-secondary education.


Because of government grants and the power of long-term investing.

Here are a few facts:

    • Parents, grandparents and friends can contribute money to an RESP to a lifetime total of $50,000
    • The federal government adds a grant of 20 to 40% of what you put in, up to $500 per year for each child. Contributors with a lower family income receive a higher grant.
    • Details on the grant (the Canada Education Savings Grant) can be found here Types of plans available

Family plans

    • One or more children can be named as beneficiaries, but they must be related to you
    • Children, grandchildren, adopted children and stepchildren are fully eligible
    • If the older children don’t go to school, the grant money, under certain circumstances, may be transferred to other beneficiaries
    • Payments don’t have to be split evenly between children.

Individual plans

    • Can be opened by anyone – the planholder doesn’t have to be a close relative.
    • There are no age limits, so you can set up an RESP for yourself or another adult.

In both plan types the planholder fully controls:

  • how the money is invested, and
  • the payments to the child

Contact us today to start planning for successful tomorrow.