Contact an RESP Representative
Our RESP experts are available to meet with you anytime and anywhere to advise you on your child's Registered Education Savings Plan. We are here for your convenience and will guide you from start to finish. Our RESP experts will provide you with all the information you need so you can start saving for your child's post-secondary education. Call one of our RESP experts today to learn more.
What You Should Know
As a parent, a grandparent, relative or family friend, you should consider the benefits of contributing to a Registered Education Savings Plan for someone you love. With a Knowledge First RESP, your child's funds for post-secondary education are in good hands. We invest your contributions in lower-risk investments . Our Registered Education Savings Plans entitle you to government grants, including the Canada Education Savings Grant* (CESG), the Canada Learning Bond* (CLB), and the Quebec Education Savings Incentive* (QESI). RESPs are professionally managed by RESP experts with over 50 years of experience.
*Certain conditions apply. See prospectus for full details.
See the links below to learn more:
Make the Most of Government Grants and Tax Free Savings with an RESP
A RESP is a tax-sheltered savings account. When you save in a RESP the income earned is taxed, however the benefit is that it will be taxed in the hands of your child as a student (students typically pay little to no income tax). You can receive a top-up to your plan from government grants which is available to parents who contribute to an RESP. The government grants provide: up to $7,200 from the Canada Education Savings Grant, up to $2,000 from the Canada Learning Bond, an extra $800 for residents of Alberta from the Alberta Centennial Education Savings Plan, up to $3,600 for residents of Quebec from the Quebec Education Savings Incentive and up to $4,500 for residents of Saskatchewan in the form of the Saskatchewan Advantage Grant for Education Savings. In August 2015, subscribers residing in BC will have the opportunity to apply for the British Columbia Training and Education Savings Grant, which is to be offered as a one-time grant of $1,200.
Canadian RESPs offer lower risk investments, convenience and flexibility
When you invest in a RESP, your net contributions and government grants are invested in fixed-income lower risk securities, typically earning a competitive and consistent return. The goal of this investment strategy is to provide more earning potential by investing the pooled income in a mix of Canadian equities, US and Canadian Exchange Traded Funds (ETFs) and corporate bonds. Select a contribution schedule that's right for you. You can also adjust your contribution amount and schedule at any time. With branch offices located across Canada, a RESP Representative is just around the corner from you. Find a local RESP Representative here for Canadian RESP expertise, government grant knowledge and tax-sheltered savings.
*Certain Conditions apply. See prospectus for full details.
Heritage Plans are offered by prospectus only.
Understand the Options When Choosing an Education Savings Plan
Contribute any amount to your RESP* up to a lifetime limit of $50,000 and take advantage of tax benefits designed to maximize growth and minimize tax. Depending on the amount of time before your child begins post-secondary education, you can build an education savings plan for them.
Easy and Efficient RESP Contribution Plans
Find a contribution plan that is right for you. You can contribute small amounts more often which compound and add up over time. Set up pre-authorized payments for added simplicity. Or make your RESP contributions annually so that they fall around other major expenses such as insurance and property taxes. Even better, schedule your annual payment to coincide with your tax refund. Your contribution options include:
- Monthly Contributions
- Annual Contributions
- Single Lump-Sum Contribution: One-time payment
- Five-Year Annual Contribution: Yearly contributions for 5 years
- Five-Year Monthly Contribution: Monthly contributions for 5 years
- Ten-Year Annual Contribution: Yearly contributions for 10 years
- Ten-Year Monthly Contribution: Monthly contributions for 10 years
Your plan reaches maturity on July 31st of the year your child turns 18 years of age. Find a local Sales RESP Representative here for education funding plans and advice on RESP benefits.
*Contributions in a RESP are subject to Heritage Plan suitability guidelines.
Enjoy consistent returns from your RESP
With the investment strategy of RESPs, our subscribers have enjoyed consistent returns. With your net contributions and government grants invested in various fixed-income lower risk investments such as government bonds and GICs that typically earn a competitive and consistent return, you can count on your money being there when your child needs it. Knowledge First may also have more earning potential where we may invest pooled income in a mix of Canadian equities, US and Canadian Exchange Traded Funds (ETFs) and corporate bonds.
The RESP Plan is a lower risk investment
Your investment principal will be there when you need it, as we invest your net contributions and government grants into fixed-income lower risk investments such as provincial bonds, federal bonds, and GICs.
Find a local Sales Representative here.
Information and Forms You Will Need
The links below will provide you with helpful information and forms you need to get started, such as an application for a birth certificate and social insurance number. Other forms include government grant and tax benefits:
Social Insurance Number (SIN)
Canada Education Savings Grant (CESG)
Canada Learning Bond (CLB)
Quebec Education Savings Incentive (QESI)
Canada Child Tax Benefit (CCTB)
Heritage Education Funds is a division of Knowledge First Financial Inc. Knowledge First Financial Inc. is a wholly owned subsidiary of the Knowledge First Foundation and is the investment fund manager, administrator and distributor of the education savings plans offered by Knowledge First Foundation and Heritage Educational Foundation. For more information about our education savings plans, please visit knowledgefirstfinancial.ca or refer to our prospectus.