RESP Account

The Smart Way to Save for a Child's Post-Secondary Education.

Registered Education Savings Plan (RESP)

A Registered Educational Savings Plan, or RESP as it is commonly known, helps you, the subscriber, save for a higher education in a tax-deferred vehicle. You can open an RESP for your child, yourself or someone else. With the introduction of the Canada Education Savings Grant (CESG), the RESP has become the most attractive savings vehicle available for a child’s post-secondary schooling.

Benefits of an RESP

  • Up to $7,200 in government grants
  • Tax-sheltered growth
  • Flexible investment options
  • Tax savings

We Offer 3 RESP Investment Account Choices

1) Mutual Fund RESP

Choose from an extensive lineup of mutual funds from more than 35 fund management companies. Our fund selection encompasses a full range of savings, income and growth funds.

2) Managed Portfolio RESP

Building a diversified portfolio and constantly monitoring and adjusting it takes time and expertise. For this reason, many investors prefer our “All-In-One Fund Solution,” which offers an easy and effective way to handle the money management and asset mix.


We offer RESP Guaranteed Investment Certificates (GICs) in terms ranging from 1 to 5 years. With GICs providing guaranteed principal and interest, they can make for an ideal portion of a diversified portfolio.

Get Started Now!

Open a RESP account or transfer your existing RESP account to GP Wealth Management. We encourage you to get professional advice when managing your RESP account.


Related Information

  • Canada Education Savings Grant (CESG)

    Get to Know the CESG

    The federal government’s Canada Education Savings Grant (CESG) is a program in which a grant of 20% is paid directly into the beneficiary’s RESP, to a maximum amount of $500 per year. The grant is available each year until the year of the beneficiary’s 17th birthday.

    With the introduction of the CESG, it makes more sense than ever to start saving now, rather than later, for your child’s future education.

    Learn More

  • Canada Learning Bond (CLB)

    Get to Know the CLB

    The federal government’s Canada Learning Bond (CLB) is a program in which a grant is deposited directly into a child’s Registered Education Savings Plan (RESP) account to help modest-income families save for their child’s post-secondary education.


  • OSAP Provides up to 30% off Ontario Tuition Fees

    Learn about OSAP

    You can get help paying for school when you qualify for the Ontario Student Assistance Program (OSAP). Find out how much you’re eligible for in grants and loans by using the Government of Ontario’s OSAP calculator.


  • Four Strategies Beyond RESPs

    Four Strategies Beyond RESPs

    Contributing to a Registered Education Savings Plan (RESP) easily ranks as one of the best financial moves you can make for your children. But it’s not the only financial planning strategy you and your family can undertake. There are several government-sponsored options that will help you decrease expenses today and build your children a financially sound tomorrow.

    Here are four savvy strategies:

    Contribute the Maximum You Can to your RESP to Maximize your Government Grant.

    When you open an RESP, you can take advantage of the Canada Education Savings Grant (CESG). Through the grant, you can earn 20% on the first $2,500 you contribute each year to your child’s RESP to a maximum of $500 per child per year. If you qualify for the additional CESG, you could earn an extra 10-20% on the first $500 contributed for an additional $100 per year. The combined lifetime maximum for CESG and A-CESG is $7,200 per child.

    Note that grant amounts are set on an annual basis with a deadline of December 31 each year. In order to receive the education savings grants, be sure to get your contributions deposited in advance of the December 31 deadline. Otherwise, you could lose the grants unless you have carry-forward room.

    What is the CESG Carry-Forward? The CESG has a special feature that allows you to carry forward unclaimed CESG from years in which you didn’t reach the threshold. The maximum CESG (including the carry-forward) is $1,000 in any given year.

    File your Taxes Yearly

    To get the most out of tax-related bonuses and government grants for families, parents should file a tax return every year – even if there is no income to report.

    Apply for the Canada Child Benefit (CCB)

    The Canada Child Benefit (CCB) was introduced by the federal government in 2016 as a replacement for several previous initiatives, including the Canada Child Tax Benefit (CCTB), the Universal Child Care Benefit (UCCB) and the Family Tax Cut, also known as income splitting.

    Under the CCB program, families with children younger than age six will receive an annual tax-free benefit of up to $6,400 per child. Those with children between the ages of six and 17 will receive up to $5,400 annually. Households with children with annual income below $30,000 will receive the maximum payment. Families whose children qualify for the Disability Tax Credit can receive an additional amount as part of their Canada Child Benefit, up to a maximum annual benefit of $2,730 per eligible child.

    Applications for the CCB can be made through the Canada Child Benefits Application, available on the Canada Revenue Agency website.

    Apply for the Canada Learning Bond (CLB)

    The Canada Learning Bond (CLB) is a federal government initiative entitling eligible RESP beneficiaries to a grant of up to $2,000. An initial CLB of $500 is provided in the first year of entitlement. Subsequently, additional CLBs in the amount of $100 per year are provided for a period of 15 years, as long as the beneficiary meets the eligibility requirements.

    Among the requirements, the beneficiary must be 15 years of age or younger in the benefit year, and the beneficiary’s parent or primary caregiver must be entitled to the National Child Benefit for at least one month of the benefit year.

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