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Savings & Investing
Post-secondary education can be expensive.

Whether you are hoping for your child to attend a post-secondary institution, or are an adult wishing to return to school yourself, you will need a savings plan to make that dream a reality.  

A Registered Education Savings Plan (RESP) is a government-approved special savings plan that grows tax-free until you or your child is ready for post-secondary education. You can choose an individual plan (one beneficiary) or a family plan (multiple beneficiaries).

Once the beneficiary is enrolled in a post-secondary institution, payments may be withdrawn from the RESP for education-related expenses and is taxable to the student (who pays little or no tax). Anyone can contribute to an RESP, making it a nice option for grandparents or relatives who wish to contribute to a child’s education. Incentive grants are available through the federal government and the Saskatchewan government.

The Government of Canada matches up to 20% of your annual contribution to a maximum of $500 per year per child (lifetime maximum of $7,200). The Government of Saskatchewan will provide a grant of 10% on contributions made after January 1, 2013 into an RESP to a maximum of $250 per child per year.