What Is A RESP?
A Registered Education Savings Plan (RESP) is a tax-sheltered plan that can help you save for your child's post-secondary education. Not only can you grow your savings tax-free, but the government will also add 20% to 40% each year to your savings in form of education grants like the Canadian Education Savings Grant (CESG).
How Much Can I Invest?
The lifetime RESP contribution limit is $50,000 per child, and you can make contributions for 31 years once you’ve opened the RESP.
What Does A RESP Offer?
A 35 year investment period
Interest that’s compounded and tax-free until it's withdrawn
No annual limit for contributions
Maximum lifetime contribution of $50,000 per beneficiary
Tax on only the accumulated income, not the principal
A family plan that allows you to open one plan with multiple beneficiaries
A transferable fund
Up to $500 in annual Canadian Education Savings Grant per beneficiary based on yearly contributions to a lifetime limit of $7,200.
How Do I Invest In A RESP?
An in-branch advisor can help you get started. Book an appointment online, by phone, or in-person at a branch.
Our dedicated wealth advisors will provide personalized financial plans to keep your financial goals on track.
Self-manage your investment through Qtrade Direct Investing™ or get them professionally managed through VirtualWealth®.
Mutual funds and related financial planning services are offered through Credential Asset Management Inc. Mutual funds, other securities and securities related financial planning services are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc. Online brokerage services are offered through Qtrade Direct Investing, a division of Credential Qtrade Securities Inc. Qtrade and Qtrade Direct Investing are trade names and trademarks of Aviso Wealth. VirtualWealth is a trade name of Credential Qtrade Securities Inc.