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  1. Solutions
  2. Investing
  3. RESP




RESPs 

Their dreams deserve it.
Your savings can make it happen.


Start something amazing for their future

You don’t have to do it all alone. An RESP adds government grants and tax advantages to every dollar you save, so your child’s opportunities grow even faster.

Why parents love RESPs:

  • Up to $7,200 in government grants
  • Tax-advantaged growth on your savings
  • Covers every path — university, college, or trade school
  • Start small — just $25 a month grows into something big


The Ultimate Parent Move

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Ignite your Savings with Government Grants

Get an instant boost — every dollar you put in gets topped up by 20 cents, thanks to the Canada Education Savings Grant. That’s up to $500 a year and $7,200 over your child’s lifetime. Depending on your family income, you might even unlock extra grants. Free money? Yes, please.

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Fuel their future with tax savings

Your RESP grows faster because it’s tax-sheltered. And when it’s time to use the funds, withdrawals are usually taxed in your child’s hands — meaning little to no tax at all. More money stays where it belongs: with their education.

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Flexible for Every Education Journey

RESP savings aren’t just for university — they can be used for college, trade school, and other accredited programs. Plus, the funds aren’t limited to tuition. Books, housing, laptops, or living expenses? If it supports their education, RESP dollars are there.

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Built-in flexibility for Plan B

Dreams don’t always follow a straight line — and that’s okay. With an RESP, you’ve got flexibility built in:

  • Keep the plan open for up to 35 years.

  • Transfer savings to another child’s education.

  • Move up to $50,000 into your own RRSP if plans change.

  • Or, simply withdraw your contributions anytime. (See FAQ for details).

No matter what, your hard-earned money keeps working for your family.

Ready to get started?

Opening an RESP is easier than you think. Call us at 306.842.6641 or book a meeting online.

What to bring:

  • Your social insurance card

  • Your child's social insurance card

Not the parent or legal guardian? No problem. Give us a call at 306.842.6641, and we’ll let you know which documents you’ll need.

Book a meeting



Does education pay? Absolutely!

Canadians with a post-secondary degree on average earn 39% more than those without a post-secondary education. Further, Stats Canada reported that women with a bachelor’s degree earn 60% more than women with a high school diploma. See more.

The nitty-gritty: everything you need to know about RESPs

There’s no annual contribution limit, but there is a lifetime limit of $50,000 per child (beneficiary). You can contribute as little or as much as works for your budget — even $25 a month can add up significantly over time. Contributions are not tax-deductible, but the growth inside your RESP is tax-advantaged (earnings are sheltered until withdrawn).

Canada Education Savings Grant (CESG)

The government adds 20% to your contributions, up to $500 each year and $7,200 total per child. If you don’t contribute in a given year, unused grant room can be carried forward.

Additional CESG

For low- and middle-income families, the government may add an extra 10%–20% on the first $500 of contributions each year. For more information, you can visit the Employment and Social Development Canada website.

Based on Annual Income

Basic CESG on a $2,500 Contribution

Additional Grant

Annual Maximum Grant

Low Income Families

20% up to $500

20% or $100

$600

Middle Income Families

20% up to $500

10% or $50

$550

High Income Families

20% up to $500

N/A

$500

 

Canada Learning Bond (CLB)

For children in low-income families, the government deposits $500 in the first year and $100 annually until age 15, for up to $2,000 total — with no personal contributions required.

Anyone can open an RESP — parents, grandparents, other relatives, or even close family friends. The person who opens the plan is called the subscriber. The child who will use the RESP is called the beneficiary. To qualify, the beneficiary must be a Canadian resident with a Social Insurance Number (SIN) at the time the plan is opened.

You can contribute for up to 31 years after opening the plan, and the RESP itself can remain open for up to 35 years. This flexibility gives your child plenty of time to decide on their education path.

RESP savings are very flexible. Funds can be used for a wide range of post-secondary education costs, including:

  • Tuition and compulsory fees

  • Books and course materials

  • Housing and living expenses

  • Tools, laptops, or supplies needed for their program

RESPs can be used at universities, colleges, trade schools, and other accredited programs in Canada — and in many cases, abroad.

There are two main types of withdrawals:

  • Educational Assistance Payments (EAPs): This is the grant money and investment earnings. EAPs are taxable, but they’re taxed in your child’s hands — and since most students have little to no income, they usually pay very little (if any) tax.

  • Post-secondary Education (PSE) Withdrawals: This is the money you contributed. You can withdraw your contributions tax-free once your child is enrolled in eligible studies.

Want to know more? Check out The stress-free guide to cashing out your child’s RESP.

You still have options:

  • Keep the RESP open — you have up to 35 years in case they change their mind.

  • Transfer the plan to another child (as long as they qualify).

  • Move up to $50,000 in earnings into your RRSP or spousal RRSP (if you have contribution room).

  • Withdraw your contributions anytime — you’ll always get your own money back. Government grants are returned if they aren’t used.

Let’s Find the Right Investment Mix for You

You can hold a wide variety of investment types within a plan type - including stocks, bonds, GICs, mutual funds and more. That means you can create a custom portfolio to help you reach your goals.

We put the "Guarantee" in Guaranteed Investment Certificates. From $1 to $1,000,000 or more, your principle is always protected and fully guaranteed.  Simply choose the term and rate of return that meets your investment goals. Learn more.

How to Invest

  • With the advice of a professional. We can meet in person, over the phone or virtually. We can even meet where you are. Our experts will help break it down for you, explaining your options so you can make informed decisions on what’s right for you.

  • With the convenience of our Contact Centre. Our local team is a quick call away. No navigating automated systems or waiting hours on hold.

    • Call us at 306.842.6641


Mutual funds combine the benefits of diversification and professional asset management with affordability – making them an ideal solution for many investors. Learn more.

How to Invest

  • With the advice of a professional. We can meet in person, over the phone or virtually. We can even meet where you are. Our experts will help break it down for you, explaining your options so you can make informed decisions on what’s right for you.

  • On your own with an award-winning online trading platform. We’ve partnered with Qtrade Direct Investing® to give you the confidence to buy and sell stocks, bonds, ETFs, and mutual funds - with low trading fees.


If you’re looking for a digital solution with automated advice, Qtrade Guided Portfolios may be for you. Using a goals-based questionnaire, Qtrade guides you to a professionally managed, low-cost portfolio that fits your personal financial goals, timeline and risk tolerance. It provides continuous oversight, automatic rebalancing and ongoing personal support. You can watch your investments grow without having to manage your account or worry about your portfolio straying from your goals. Learn more.

How to Invest

  • With digital, automated advice through an online investing program that manages your portfolio, so you can “set it and forget it."

Private wealth solutions for the ease of an all-in-one solution. Learn more.


Available only at the credit union, a complete, diversified investment in a single portfolio with advanced construction and professional management.

How to Invest

  • With the advice of a professional. We can meet in person, over the phone or virtually. We can even meet where you are. Our experts will help break it down for you, explaining your options so you can make informed decisions on what’s right for you.

Stocks (also called shares or equities) represent an ownership position in a publicly traded corporation. As the company grows, so does your money – either through stock price increases or shared earnings such as dividends. Learn more.

How to Invest

  • With the advice of a professional. We can meet in person, over the phone or virtually. We can even meet where you are. Our experts will help break it down for you, explaining your options so you can make informed decisions on what’s right for you.

  • On your own with an award-winning online trading platform. We’ve partnered with Qtrade Direct Investing™ to give you the confidence to buy and sell stocks, bonds, ETFs, and mutual funds - with low trading fees.

There are several types of bonds, which are effectively loans, with the borrower usually being a government or corporation. Like a loan, the bond provides regular, predicable interest payments to the lender, in this case you. Learn more.

How to Invest

  • With the advice of a professional. We can meet in person, over the phone or virtually. We can even meet where you are. Our experts will help break it down for you, explaining your options so you can make informed decisions on what’s right for you.

  • On your own with an award-winning online trading platform. We’ve partnered with Qtrade Direct Investing™ to give you the confidence to buy and sell stocks, bonds, ETFs, and mutual funds - with low trading fees.


Boost your financial know-how

Check out Enrich - a free, award-winning financial education platform.

Find all the things you need to get started on your financial wellness journey!
Explore
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All-in-one RESP Guide

This handy guide answers all of your questions about investing in your child's future with an RESP.

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The stress-free guide to cashing out your child’s RESP

Going to university is a life change that is exciting, emotional and, for most Canadian families, expensive. Here's a helpful article to access your savings stress-free.

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See what’s possible

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Education Savings Calculator

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Online brokerage services are offered through Qtrade Direct Investing. Mutual funds and other securities are offered through Aviso Wealth. Qtrade Direct Investing, Qtrade Guided Portfolios and Aviso Wealth are divisions of Aviso Financial Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Unless otherwise stated, mutual funds and other securities are not insured nor guaranteed, their values change frequently and past performance may not be repeated.


Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc.

Online brokerage services are offered through Qtrade Direct Investing, a division of Aviso Financial Inc.
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