Financial Planning Information for Parents
Registered Education Savings Plan (RESP)
A ) is essentially a long-term savings account that you, the parent(s), can make contributions into until your child is deemed eligible by the government to enter post-secondary studies.
The great thing about contributing to an RESP is that your savings will grow tax free, they will earn a competitive interest rate, and you will be able to receive the C The basic CESG on the first $3,500 of annual RRSP contribution is up to $500 per year, regardless of total family income.
Most financial institutions offer RESPs. For a list of prospective RESP promoters, consult the website.
Documentation that may be required:
Many RESP providers will accept the 間眅埶AV Confirmation of Enrollment letter generated through the Student Information System. If you require a letter and/or account summary for an RESP withdrawal, see the following pages for instruction:
If your RESP provider has a specialized form that needs to be completed, bring this form in to any Registrar and Information Services front counter to be filled out.