RESP (Registered Education Savings Plan)

The Registered Education Savings Plan is now available to all CEIRP members

Now saving for a child’s education is even easier. This product is designed for:

  • Families with one or more children
  • Families with large age differences
  • Individual(s) who wish to establish an RESP for themselves or a non-related individual

Contributions to your RESP can be made either by:

  1. Pre-authorized contribution (PAC)
  2. Online banking bill payment
  3. Transferring non-restricted NRSP funds through the Canada Life call centre, or
  4. Mailing a personal cheque directly to Canada Life

Investment Options and Fees
The RESP plan consists of Canada Life’s Target Date Education Funds: 2025, 2030, 2035, 2040 and the Study Fund. The investment management fee is set at 1.5%. Schedule of Fees.

Once the account is established, the plan member can change their allocation:

  • TD Index Funds: Canadian Bond, Canadian Equity, Balanced, US Equity, International Equity, Global Equity
  • 1yr, 3yr, and 5 yr GIAs at the interest rates posted under Net unit values & rates

Government Grants
When you open this savings plan, Canada Life will apply for these grants and bonds on your behalf:

  • Canada Education Savings Grant
  • Canada Learning Bond
  • British Columbia Training and Education Savings Grant
  • Quebec Education Savings Incentive
Additional Resources
  • Click here to learn more about RESPs
  • RESP Booklet
  • To open an account, access your account to make changes, download forms or to make contributions, sign in at mycanadalifeatwork.com
  • Need extra help to register or any other questions you might have about your RESP account, call the Canada Life Access Line at 1-800-724-3402 Monday to Friday from 8 a.m. to 8 p.m. ET

Introducing—

Enrolment is easy: