An RESP is an education savings plan registered under the Income Tax Act. There are many types available. RESP contributions are not tax-deductible but rather a RESP allows your contributions to grow tax-free.

If you have children, grandchildren or are expecting a child, you may be thinking about saving for their post-secondary education. Tuition rates are rising and the best way to ensure that your child can afford an education is to start saving early.

You can contribute up to lifetime limit of $50,000 for each beneficiary, with no Annual limit.