Invest in your children’s future today.
A Registered Education Savings Plan (RESP) is a tax-deferred investment plan designed to assist you in saving for your child’s or grandchild’s post-secondary education. Unlike an RRSP, your contributions to the plan can’t be used to reduce your earned income for tax purposes. They are, however, allowed to grow on a tax-deferred basis within the plan. The earnings are taxable in the hands of the beneficiary (the student, who’s usually in a lower tax bracket) when withdrawn.