RESP | Family RESP | Osoyoos Credit Union

Registered Education Savings Plans (RESPs)

A Registered Education Saving Plan is a government approved plan for the purpose of providing post-secondary education funding for a beneficiary. Income earned within the plan is not taxed until it is withdrawn.

For more information on our RESPs, please contact us and our knowledgeable staff will be happy to help.

Helpful Resources

British Columbia Training & Education Savings Grant Information

Canada Education Savings Grant (CESG)

Get All the Education Savings Grants You Deserve

Federal and provincial education savings grants can add potentially thousands of dollars to your RESP. We want to help ensure you get all the government incentives you’re entitled to, which may include:

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Program	Annual Benefit	Maximum Lifetime Benefit	Eligibility Requirements	Apply
Canada Education Savings Grant (CESG)	20% on the first $2,500 contributed each year to a maximum of $500 per child per year	$7,200 per child (including additional CESG)	Any children under the age of 18 who are Canadian residents; must have a SIN	Download Application Form
Additional CESG	An additional 10% or 20% on the first $500 contributed (i.e., up to $50 or $100) per child per year	N/A	Based on income level; indexed annually	Download Application Form
Canada Learning Bond (CLB)	An initial grant of $500 plus $100 per year until age 15	$2,000	Based on the number of qualified children and the adjusted income of the primary caregiver	Download Application Form
Quebec Education Savings Incentive (QESI)	10% on the first $2,500 contributed each year to a maximum of $250 per child per year	$3,600 (including additional QESI)	Quebec residents only	Download Application Form
Additional QESI	An additional 5% or 10% on the first $500 contributed each year (i.e., up to $25 or $50) per child per year	N/A	Based on income level; indexed annually (Quebec residents only)	Download Application Form
British Columbia Training and Education Savings Grant (BCTESG)	A one-time contribution of $1,200	$1,200	Children born in 2006 or later who are ages 6 to the day before they turn 9	Download Application Form

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Get All the Education Savings Grants You Deserve

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