A Registered Education Savings Plan (RESP) helps your child’s education savings grow tax deferred while in the plan, and provides a way for eligible government grant contributions to help grow your savings faster.
You start saving early in your child’s RESP and take advantage of generous government grants.
Your regular contributions and grants generate interest. Your RESP grows tax-free..
Your contributions are returned to you to fund your child’s education. Your child receives the grants and the total interest from the RESP
There are many benefits for opening an RESP for a child. Here are few:
See how investing per week per child in an RESP adds up quickly when supplemented by the federal and provincial incentives.
