RESP

It's never too early to start saving for your children's education. A Registered Education Savings Plan (RESP) is a government approved plan to help save for post-secondary education. With a lifetime contribution limit of $50,000, the government will also contribute 20% annually on the first $2,500 deposited into an RESP to a lifetime maximum of $7,200 until your child turns 17.

How about a little extra money to add to your RESP? With the Canada Education Savings Grant (CESG) take advantage of 20%-40% in additional funding to your child's RESP plan. For more information about the Canada Education Savings Grant, please visit Canada Revenue Agency's CESG website.

 

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