Invest in Their Future — One Contribution at a Time
Post-secondary education is one of the biggest investments a family can make. With tuition, books, and living expenses rising, an RESP helps you prepare — while benefiting from government support and tax-deferred growth.
Key Benefits
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Tax-Free Growth
Investments inside an RESP grow tax-free until withdrawn for education. -
Government Grants
- o Canada Education Savings Grant (CESG): 20% match on annual contributions up to $2,500 (max $500/year, $7,200 lifetime).
- o Canada Learning Bond (CLB): Up to $2,000 for eligible low-income families.
- o Provincial Grants: Available in BC and Quebec.
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Flexible Use
Funds can be used for tuition, books, tools, transportation, and housing at universities, colleges, trade schools, and apprenticeship programs. -
Contribution Room
No annual limit, but lifetime maximum is $50,000 per beneficiary.
Who Can Open an RESP?
- Parents, grandparents, relatives, or friends.
- Adults can open one for themselves.
- Beneficiaries must be Canadian residents with a SIN.
Advisor Tip from Guriqbal Singh
"RESPs are more than savings accounts — they’re a way to unlock opportunity. I help families choose the right plan, maximize grants, and align contributions with long-term education goals."
Ready to Start Saving?
Let’s build an education savings strategy that fits your family’s future.
Book a consultation today with O Canada Insurance Inc.