The RESP is a savings plan designed to help finance for a child’s (beneficiary) post-secondary education. If you are a parent or grandparent (subscriber), you can open an RESP for your child or grandchild.

When the time comes to start post-secondary education, the beneficiary will be able to take advantage of a substantial amount of money to help pay for part, or all, of their studies and cover their tuition fees, rent, and other related expenses.

• Contribute up to $50,000 per beneficiary (over the duration of the plan), before earnings on the capital invested and grants.
• The total earnings generated in an RESP grow tax-free until withdrawn.
• Savings are enhanced by at least 30% thanks to government grants.
• Option to retroactively claim unused grants and contribute more in a given year.
• Grants invested directly into the pre-selected investment product.
• Contribute regularly and automatically thanks to the Pre-Authorized Contribution Plans.

1. Canada Education Savings Grant (CESG)

   Corresponds to 20% of contributions paid annually, up to a lifetime maximum of $7,200 for each beneficiary + additional contribution of 10% based on family income.

2. Canada Learning Bond (CLB)

   The beneficiary (born in 2004 or later) who meets the conditions receives $500 the first year and $100 each subsequent year.

3. Québec Education Savings Incentive (QESI)

   Corresponds to 10% of net annual contributions to the plan, up to $250 per year, per child + additional grant of up to $50 per year for low-income families, up to a total cumulative amount of $3,600 in grants for each beneficiary.

Learn more about government grants

Legal notice

The RESP is offered by LBC Financial Services Inc. (“LBCFS”) and Mackenzie Investments is the promoter. As such, only mutual funds from the “Laurentian Bank Group of Funds” are offered in this plan.

Mutual funds are distributed by LBC Financial Services Inc. (“LBCFS”), a subsidiary of Laurentian Bank of Canada (“Laurentian Bank”). LBCFS is a corporate entity separate from Laurentian Bank, B2B Trustco, and any mutual fund company. Registered LBCFS representatives are also Laurentian Bank employees. Accordingly, LBCFS’s liability is limited to the conduct of its representatives in the performance of their duties for LBCFS. Important information is provided in the relevant fund facts. Please read this (or these) document(s) carefully prior to investing. For more information regarding the funds you trade, please refer to their simplified prospectuses. To obtain a copy of the fund facts and/or the simplified prospectus(es) for your fund(s), please contact an LBCFS representative at any Laurentian Bank branch. Commissions, trailing commissions, management fees and other expenses may all be associated with mutual fund investments. Mutual funds offered through LBCFS are not insured by the Canada Deposit Insurance Corporation, Canadian securities regulators, or any other public deposit insurer. Furthermore, these funds are not guaranteed, in whole or in part, by the Laurentian Bank, B2B Trustco, or any mutual fund company. There is no guarantee that the fund will be able to maintain a fixed net asset value per unit or that the full amount of your investment in the fund will be returned to you. The value of funds often fluctuates, and past performance is not indicative of future performance.