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  3. RESP
Registered Education Savings Plan
Investing in your child's future is easier than you think.
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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 happens if my child doesn't pursue a post-secondary education?

RESPs are all about flexibility and choice, so if a child named in your RESP chooses not to go to college or university you have several options:

  • Change the plan to another child

  • Transfer money to another RESP

  • Transfer the money to your RRSP

  • Close the plan and cash out

What does a RESP offer?

  • Interest that’s compounded and tax-free until it's withdrawn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?

Below are ways to invest your funds either as a self-directed investor or with professional assistance.

In Branch

An in-branch advisor can help you get started. Book an appointment online, by phone, or in-person at a branch.


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Personalized Advice

Our dedicated wealth advisors will provide personalized investment plans to keep your financial goals on track.

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Online/Mobile Investing

Self-manage your investments through Qtrade Direct Investing® or get them professionally managed through Qtrade Guided Portfolios®.

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Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds, other securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated. Online brokerage services are offered through Qtrade Direct Investing. Qtrade Direct Investing, Qtrade Guided Portfolios and Aviso Wealth are divisions of Aviso Financial Inc.
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