Home Retirement Glossary Registered Education Savings Plan (RESP)

Retirement


DEFINITION

Registered Education Savings Plan (RESP)

A Registered Education Savings Plan (RESP) is a registered investment vehicle in Canada that allows an individual to save for a child's post-secondary education. Subscribers to an RESP make contributions that build up tax-free earnings. The government contributes a certain amount to plans for children under 18 under the Canada Education Savings Grant (CESG).

RESOURCES

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