How the Heritage Plan works

Here's how the Heritage Plan helps you achieve your education savings goal

Start young

You can start a Heritage Plan for any child (Beneficiary) under 15 years of age. Remember, though, the younger the Beneficiary is when you enroll in the plan, the more time you'll have to save – and the less you'll need to contribute to reach the maximum.

Stay safe

Your contributions and government grant payments are invested in various low-risk investments by professional money managers and administrators. Your portion of these "pooled funds" is determined by the number of shares (units) you purchase and their value.

Receive your share

One of the key characteristics of the Heritage Plans is that all contribution methods are designed so that an approximately equal amount of accumulated interest per unit is expected to be earned by the Maturity Date. That means all Beneficiaries with the same Year of Eligibility receive the same Educational Assistance Payment (EAP) amount on a per unit basis (depending on the payment option chosen). The value of the units depends on interest rates and the number of beneficiaries who pursue a post-secondary education each year.

Use your Educational Assistance Payments anywhere

When it's time for your child to pursue their post-secondary education, your Heritage Plan Educational Assistance Payments (EAPs) can be used at any recognized post-secondary institution worldwide.

Optional Self-Completion Insurance

This optional coverage ensures that your regular contributions continue to be made should anything ever happen to you. Ask your Heritage RESP Representative for full details.