RESP: Registered education savings plan
A great way to save for your children’s or grandchildren’s post-secondary education.
Maximum annual federal (CESG) and provincial (QESI) government grants
Annual contribution per child required to receive the maximum annual grants
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, which will give you at least a 30% return on your investment. It’s a great way to give a leg up to your children or grandchildren!
Contribute $2,500 each year to receive the maximum $750 annual grant per child.
Advisory TeamFÉRIQUE Investment Services
RESP at a glance
Contribute $2,500 each year to receive the maximum annual grant per child.
In Québec, the grant amount is capped at $750 per child per year, with a lifetime limit of $10,800.
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, he will be able to withdraw amounts from his RESP each year.
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 residents can receive an additional grant that is equal to 10% of annual contributions, up to $250, with a lifetime limit of $3,600.
Opening an RESP
You can count on our Advisory team’s sound and objective advice to assess your needs or financial goals and ensure you are using the right investment strategies to do so.
Three ways to open an account
Open an account online whenever you want, on the phone or by appointment with a member of our Advisory team.
Your first contribution
Open a TFSA with a $500 initial investment or by setting up a pre-authorized contribution plan for $50 each month.
Invest in mutual funds
FÉRIQUE Funds and Portfolios provide you with a range of investment opportunities to help you reach your goals and complete your projects. You will find products suited for every investor profile.
Turnkey investment solutions comprised of several funds that are suitable for different types of investors.
A range of funds that allow you to invest in various sectors of the economy, regions of the world or asset classes.
A responsible investing approach focused on the long term that underpins the entire line of FÉRIQUE Funds and Portfolios.
* 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.