Registered Education Savings Plans

• Lets you save for a child's post secondary education
• Earnings are tax sheltered and generous Federal Government incentives are available
• Mutual funds*, term deposits, and savings plans available
• Convenient and easy contributions through direct deposit, payroll deduction, electronic funds transfer, by mail or in person
• Contribution limits of $50,000 lifetime per child
• A basic CESG grant of 20% of the contributed amount to a maximum of $500 per year for each eligible child registered under this program is paid by the Federal Government into the RESP
• There is a lifetime maximum grant of $7,200 per child
• Additional CESG grant amounts and a Canada Learning Bond may be available to qualified families
• If your child decides not to pursue post-secondary education, options to choose another beneficiary are available
• Contributions made to an RESP are not tax-deductible
• The government grant and accumulated income earned in the RESP are paid to the student to cover educational expenses
• The grant and accumulated income are taxable to the student in the year paid
• When the student attends an approved post-secondary institution, the RESP principal deposits can be returned to the subscriber of the RESP or be paid to the student, tax-free
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* Mutual funds and self directed plans are provided through Worldsource Financial Management Inc. Additional services are through The Fire Department Employees Credit Union.

The product descriptions and information are provided for educational purposes only and are not to be considered as a solicitation to purchase mutual funds securities.

Commissions, trailing commission, 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. To obtain a prospectus, or further information, please contact your Worldsource Financial Management Inc. advisor. Offers to purchase mutual fund securities must be made through a qualified mutual funds advisor in your province.

Mutual fund values fluctuate daily. All information provided is believed to be accurate and reliable, however we cannot guarantee the accuracy. Worldsource Financial Management Inc. will not be held liable in the information presented nor will Worldsource Financial Management Inc. be liable for any software damage from the use of this website. Mutual funds are sold in Canada only.

The information contained herein is for personal use only. Redistribution of this information is prohibited without written permission.