How much could my RESP really earn?
will be available in funds for school
Paid to the beneficiary (student) in the form of educational assistance payments (EAPs) for school.
Contributions are returned in full to the subscriber (person who opens the RESP) at plan maturity. The subscriber can choose to give this money to the student as extra funds for school.
*The RESP calculator does not take into account the additional grants offered based on adjusted family net income. Your children could be entitled to higher amounts than those projected. These projections are for information only and are not guarantees of future investment returns. The ratios presented are not representative of reality and are only for information purposes.
The calculation tool generates projections for information only and is designed to illustrate the overall advantages of an RESP. This tool does not specifically apply to group RESPs. The projected growth—net of all administrative/management fees—of grants and savings is based on a net 4% rate of return assumption. As an assumption, iIt cannot be considered a guarantee of future performance, nor interpreted as a commitment on our part.
The RESP calculator takes into account the basic 20% Canada education savings grant (CESG) and the basic 10% Quebec education savings incentive (QESI), only offered in Quebec. The lifetime CESG limit per beneficiary is $7,200 and the lifetime QESI limit is $3,600.
Certain restrictions apply: The annual CESG limit is $600, the annual QESI limit is $300, and the lifetime RESP contribution limit is $50,000 per child.
If your adjusted family net income is modest, your beneficiary could be eligible for the additional CESG and QESI. If you receive the National Child Benefit Supplement, your child could also receive the Canada Learning Bond, offering a lifetime amount of up to $2,000 for children born after December 31, 2003. Certain conditions apply. Contact one of our authorized representatives or refer to our prospectus.
We offer different contribution options. A minimum subscription amount is usually required. For further details, contact one of our authorized representatives or refer to our prospectus.