RESPs

Prepare for your children’s pursuit of a higher education...plan for their future now!

A Registered Education Savings Plan (RESP) is a government-approved plan for the purpose of providing post-secondary education funding for a beneficiary.  Income earned within the plan is not taxed until it is withdrawn.

The Canada Education Savings Grant (CESG) program allows egilible RESP beneficiaries to receive grant monies based on annual contributions paid into the plan.  The government will contribute 20% annually on the first $2,500 deposited into an RESP for children up to the end of the year they attain 17 years of age (some restrictions apply).

An RESP and the Sydney Credit Union FAT CAT® Account work together to get your child started in the right direction!

 

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