Get smart about education
A Mackenzie Investments Registered Education Savings Plan (RESP) is an effective way to save for, and maximize, the money available to children when they enroll in a post-secondary program. The Government of Canada and certain provinces offer several grants to help investors build their education savings. Contributions are not tax-deductible, but money inside the plan and any grant they attract can grow tax-free until it's withdrawn for educational purposes.
Invest in your child’s future
A Mackenzie RESP makes it easy to invest in your child’s future. An RESP can provide peace of mind that you’re helping your child get off to a good start, reducing or even eliminating the need for student debt in the future.
Who should invest in an RESP?
- Parents who want to prepare for rising education costs and save for their child’s education.
- Grandparents – RESPs are an effective way to pass down money to grandchildren to use for education costs.
- Anyone (friends, aunts, uncles, cousins) who wants to support the education of a child that is close to them.
The Benefits: Government grants and tax-deferred growth
- The federal government programs are:
- The Basic Canada Education Savings Grant (CESG)
- Additional CESG
- The Canada Learning Bond (CLB)
- The provincial government grants are:
- The BC Training & Education Savings Grant (BCTESG)
- The Quebec Education Savings Incentive (QESI)
- Saskatchewan Advantage Grant for Education Savings (SAGES)
- RESPs offer the flexibility to share a grant and income with beneficiaries.
- Although contributions are not tax-deductible, both personal contributions and grant contributions grow tax-free.
- There are no annual contribution limits. The maximum lifetime contribution per beneficiary is $50,000.
Maximize your RESP savings
- Investors can choose between an individual or family RESP. Talk to your advisor about the best plan for you.
- Mackenzie Investments offers a large selection of investment options to use within a RESP.
- Enroll in a pre-authorized chequing plan for automatic investing.
- Use the Mackenzie One-Step Dollar Cost Averaging service for regular systematic investing.
If money from an RESP is withdrawn for reasons other than the beneficiary’s education, part of or all of the grant money must be returned to Employment and Social Development Canada (ESDC). This is referred to as “claw-back.”
Find out more
Speak to your financial advisor for more information about RESPs and investing with Mackenzie Investments.
Tools and Calculators
- Education Planning Guide (1 MB PDF)
- Registered Education Savings Plan Guide (1.8 MB PDF)
- Proof of Enrollment Guidelines (60 KB PDF)
- Understanding the RESP (160 KB PDF)
- [require login access] Advisor Administrative Guide (841 KB PDF)
Applications and Forms
- RESP – Individual Plan Application (295 KB PDF)
- RESP – Family Plan Application (313 KB PDF)
- RESP Transfer Form (1,2 MB PDF)
- Family RESP Add Beneficiary Form (76 KB PDF)
- RESP Non Financial Update Form (118 KB PDF)
- Tax Withholding Waiver Form (154 KB PDF)
- RESP Withdrawal Form (187 KB PDF)
- RESP Verification of Enrollment Form (169 KB PDF)
- RESP Government Grant Application Form (SDE0093) (612 KB PDF)
- Annex A – Additional Beneficiaries Application (SDE0093-A) (583 KB PDF)
- Annex B – Primary Caregiver and/or Custodial Parent/Legal Guardian Application (SDE0093-B) (632 KB PDF)
- Annex C – Saskatchewan Advantage Grant for Education Savings Application (SDE0093-C) (650 KB PDF)
- Annex D - British Columbia Training and Education Savings Grant (BCTESG) (SDE 0093-D) (723 KB PDF)
- Quebec Education Savings Incentive – Transfer between RESPs Form (153 KB PDF)
Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds are not guaranteed, their values change frequently and past performance may not be repeated.
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