A Registered Education Savings Plan is a tax-advantaged account to save for a child’s post-secondary education (college, university, trade school). 

You contribute money into the plan, up to a lifetime limit of $50,000 per beneficiary. Contributions are not tax-deductible. 

The money is invested and grows tax-deferred, supplemented by government grants. 

Annual Government Payment

The government matches 20% on the first $2,500 contributed annually to an RESP, to a maximum of $500 per year.

Maximum Contribution

The maximum total CESG the government will give is $7,200 per beneficiary.