Registered Education Savings Plan RESP

Plan for Your Children's Future

With a Registered Education Savings Plan (RESP), you can set money aside for your children, money that will grow in a tax-sheltered environment until your children need it for post-secondary studies. Once they enter a post-secondary institution, that money will allow them to focus more on studies and less on part-time jobs.

RESP Features

  • Funds may be invested for the post-secondary education of the beneficiary or beneficiaries.
  • Capital and income are tax-sheltered.
  • Maximum of $50,000 per beneficiary for the duration of the plan.
  • Available government grants:
    • Basic Canadian Education Savings Grant (Basic CESG)
    • Additional Canadian Education Savings Grant (Additional CESG)
    • Canada Learning Bond (CLB)
    • Alberta Centennial Education Savings Grant (ACES)
    • Quebec Education Savings Incentive (QESI)

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Available Plans

  Individual RESP Family RESP


A single beneficiary regardless of relation to subscriber.

One or more beneficiaries, who must be related to the subscriber by blood or adoption.

Age limit

No age limit.

The beneficiaries must be under 31 years of age.

Breakdown among beneficiaries

Contributions, withdrawals and Educational Assistance Payments apply to a single beneficiary.

Contributions are split by the subscriber among the beneficiaries.

If the child does not pursue post-secondary education

A new beneficiary may be designated.

The other beneficiaries can split the contributions.

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Investment Options

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Start Saving Today - An Example

It's best to start investing in the years immediately following a child's birth to be able to take full advantage of government grants and to establish a solid investment strategy.

* The figures in this graph are assumptions only and are provided to illustrate the potential advantages of this product under identical conditions.

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Open an RESP Account

Step 1: Obtain a Social Insurance Number (SIN) for your child

  • Contact the nearest Service Canada Centre to apply for a SIN for your child.
  • The forms are on the Service Canada Web site.

Step 2: Contact us

  • You can call your financial advisor at your branch
  • You can call our National Bank Investments Advisory Service 514-871-2082 or 1-888-270-3941

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 RESP pamphlet

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