What is an RESP?

A Registered Education Savings Plan (RESP) is a registered plan that allows family and/or friends to contribute towards a child’s education. Contributions to the plan can grow tax-free over the life of the plan.

Benefits of RESPS

Tax-differed investment growth Contributions made to an RESP can accumulate and grow tax-free over the life of the plan. When withdrawals are made for the purpose of education, only the growth and grant portion of the plan is taxable in the hands of a child. Moreover, because your loved one will likely be reporting a low level of income while they are attending school, the amount of tax they can expect to pay should be minimal.

Easy access to government grants Your contributions to an RESP may qualify for the CESG. Through the Canada Education Savings Grant (CESG), the federal government will contribute 20 per cent of your annual RESP contribution to a maximum of $400 per year per child.
More control and flexibility With an RESP, you have complete control over how much you contribute each year, although there is an annual limit of $4,000 per beneficiary. Furthermore, you can invest in a portfolio of growth-oriented investments from one of three mutual fund families from Manulife Investments.
No account or administration fees With an RESP from Manulife Investments, there is no charge for opening or maintaining an RESP account.
No foreign content restrictions There are no foreign content restrictions on your RESP. Therefore, mutual funds that invest outside of Canada make it easy to build a properly diversified RESP portfolio.
Low minimum investment You can open an RESP with Manulife Investments for as little as $25 per month*.
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Disclaimer:
  • Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments.
  • Please read the fund's simplified prospectus before investing.
  • Mutual fund securities are not guaranteed, their values change frequently and past performance may not be repeated.