Registered Education Savings Plan (RESP)
An RESP provides a convenient way to accumulate funds for your child's or grandchild's post-secondary education. Income earned in the plan is not taxed until it is withdrawn.
The beneficiary receives Educational Assistance Payments from the plan to cover expenses related to registering in a qualifying educational program at a post-secondary educational institution.
The first $2,500 of annual contributions for children up to age 18 is eligible for a 20% government grant (to a maximum of $500 per year).
ECU has RRSP, RESP, and RRIF applications and information booklets available at our office. Please contact us and we will be happy to assist you.