Registered Education Savings Plans
What is an RESP?
An RESP is a government-approved plan that provides incentives from the federal government to encourage saving towards your child’s post-secondary education. The government will contribute 20% annually on the first $2,500 deposited into an RESP until the end of the year in which your child turns 17. With government contributions, it’s the smartest way to save for future education needs. Contributions are not tax deductible, but income earned within the plan is tax sheltered until withdrawn.
Investing in an RESP will give you and your family more financial freedom when making the choices that will affect their future. We can help you reach this goal with an SCU RESP. Combined with great interest rates, you’ll be planning today for your family’s education goals.
Contact us today to find out how we can help you plan ahead for the financial needs of the kids in your life.