Registered Education Savings Plan

A Registered Education Savings Plan (RESP) is a government-registered savings plan that helps you save for a child’s post-secondary education. While contributions are not tax-deductible, investment income grows tax-free, and the student pays tax on withdrawals—usually at a low rate. RESPs can also receive government grants like the Canada Education Savings Grant (CESG) and, if eligible, the Canada Learning Bond (CLB) to help grow the savings faster.