RESP: Registered education savings plan
A great way to save for your children’s or grandchildren’s post-secondary education.
$750
Maximum annual federal (CESG) and provincial (QESI) government grants
$2,500
Annual contribution per child required to receive the maximum annual grants
30%
Get up to 30% of your contributions in grants*
RESP: The smart way to invest in children’s education
An RESP allows you to set aside and grow money tax-free until a child starts post-secondary education, and receive matching government grants that can give you at least a 30% return on your investment. It’s a great way to give your children or grandchildren a leg up!
Contribute $2,500 each year to receive the maximum $750 annual grant per child.
Advisory Team
FÉRIQUE Investment ServicesRESP at a glance
Contribute
Contribute $2,500 each year to receive the maximum annual grant per child.
Receiving grants
In Québec, the grant amount is capped at $750 per child per year, with a lifetime limit of $10,800.
Play catch-up
If you fall behind on your RESP contributions, you can play catch-up by doubling your contributions to $5,000 per year.
Withdraw money from the RESP
When your child begins post-secondary education, they will be able to withdraw amounts from their RESP each year.
Canada education savings grant (CESG)
CESG is equal to 20% of annual contributions, up to $500, with a lifetime limit of $7,200. Each year, you can use up to $1,000 in unused grant room from a previous year.
Québec education savings incentive (QESI)
Québec residents can receive an additional grant that is equal to 10% of annual contributions, up to $250, with a lifetime limit of $3,600.
Need advice on your investments?
To invest in a Fund or find out if it is suitable for your investor profile, contact FÉRIQUE Investment Services, the principal distributor of the FÉRIQUE Funds.
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*RESP contributions are eligible for a federal grant (Canada education savings grant – CESG) equal to 20% of annual contributions, up to $500, with a lifetime limit of $7,200. Québec residents can also receive a provincial grant (Québec education savings incentive – QESI) equal to 10% of annual contributions, up to $250, with a lifetime limit of $3,600.