Registered Education Savings Plan (RESP) is a tax-sheltered investment plan for a child's post secondary education with the contribution of the government.

With the high trend of university and college’s tuition fees, this fund could help your child to build his/her future.

Parents for each child can contribute up to $4000 per year. Meanwhile there is a lifetime maximum of $42,000 per child.  Supplementary contributions by the federal government's Canada Education Savings Grant (CESG) add to your RESP fund. RESP unlike an RRSP are not tax-deductible, but the investment income earned is tax-sheltered until withdrawn.