Fund the Future.

A Registered Education Savings Plan
(RESP) is an account used to save
for a child's (or grandchild's)
​post-secondary education.

Fund the future.

A Registered Education Savings Plan (RESP) is an account used to save for a child's (or grandchild's) post-secondary education.

Invest in your child's future 

Benefits

Explore your options

Start post-secondary with financial ease

Benefits

How you'll benefit

Save money for tuition, books, housing & more with an RESP.

Features and benefits of an RESP:

  • Savings grow tax-free
  • The government will match a percentage of your savings 
  • Money in an RESP can be used to invest in mutual funds, ETFs, GICs, stocks, etc.

Note: There is a lifetime maximum of $50,000 per account. Contributions are not tax deductible. 

Benefits

How you'll benefit

Save money for tuition, books, housing & more with an RESP.

Features and benefits of an RESP:

  • Savings grow tax-free
  • The government will match a percentage of your savings 
  • Money in an RESP can be used to invest in mutual funds, ETFs, GICs, stocks, etc.

Note: There is a lifetime maximum of $50,000 per account. Contributions are not tax deductible. 

Take advantage

Get more out of your RESP

The following resources offer additional funds to your RESP:

  1. Canadian Education Savings Grant - get up $7,200
  2. Canada Learning Bond - get up to $2,000
  3. BC Training and Education Savings Grant - get a $1,200 one-time grant

 Looking for more guidance? Speak to an advisor >

Explore your options

Types of RESPs

There are three types of RESPs:

  • Individual RESP plans — an individual, such as a parent or grandparent, opens an RESP and contributes to it

Note: Even a future post-secondary student can open an account for theirself.

  • Family RESP plans — you have one or more recipients and all are related to the individual who opens the RESP
  • Group RESP plans — one child is the recipient and does not have to be related to you

Note: Group plans tend to have more restrictions and rules.

Explore your options

Types of RESPs

There are three types of RESPs:

  • Individual RESP plans — an individual, such as a parent or grandparent, opens an RESP and contributes to it

Note: Even a future post-secondary student can open an account for theirself.

  • Family RESP plans — you have one or more recipients and all are related to the individual who opens the RESP
  • Group RESP plans — one child is the recipient and does not have to be related to you

Note: Group plans tend to have more restrictions and rules.


Tools & Resources

Budget Planner

LET'S GO

Student Accounts

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RESP Brochure

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RESP Calculator

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Discover more

Plan while young

It's never too early to start banking. Learn more about student accounts, educational borrowing, or selecting investments.

LEARN MORE

Youth Accounts

Our youth accounts meet the needs of our youngest members through to active teens.

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TFSA

The Tax-free Savings Account (TFSA) allows you to save and invest without being taxed on your gains.

LEARN MORE

Plan while young

It's never too early to start banking. Learn more about student accounts, educational borrowing, or selecting investments.

LEARN MORE

Youth Accounts

Our youth accounts meet the needs of our youngest members through to active teens.

LEARN MORE

TFSA

The Tax-free Savings Account (TFSA) allows you to save and invest without being taxed on your gains.

LEARN MORE

​SASCU has been my local bank for many years, I opened my first account here.

Mitchel C.

Guidance you can trust

Join today and see why so many are switching to SASCU.

Guidance you can trust

Join today and see why so many are switching to SASCU.