Now that school is back in session, here’s a quick reminder of how the Registered Education Savings Plan works:

  • It is a tax-sheltered account to save money for a child’s education
  • Parents, grandparents, guardians, family members and friends can open an RESP
  • It provides grants (CESG) and various other incentives
  • Individual and family plans are available
  • Contributions are not tax deductible

Don’t forget that you can read more about the RESP on our website here.