Login l Contact l Help     





TOP GIC RATES

Click here
to get a list of the top GIC rates available through GP Wealth Management. Please contact your GP advisor for more information regarding any of the above investments.

  Open an account and request
GP Information Kits and
Applications. Learn more...
 


GET ON-LINE ACCESS
  To obtain access to your accounts, click here or contact us at 1-800-608-7707 ext. 242 or by email at  password@gpwealth.ca  



TOP FUNDS




Find out which funds are currently performing well. Click the links below for each category.
Canadian Focused Equity »
Canadian Fixed Income »
Global Equity »
 
What Is an RESP?

A Registered Education Savings Plan (RESP) is a tax-sheltered savings account specifically designed to help you save for your child's higher education. With tuition fees and the cost of living rising every year, it makes sense to start saving as soon as possible and build an RESP nest egg over time. Though most RESPs are opened for children, you can also open an account for yourself or another adult.

As the subscriber, you can contribute up to $50,000 per child to an RESP over the lifetime of the plan. While contributions to an RESP are not tax deductible, savings within the plan grow tax-free until withdrawn for education purposes by the beneficiary. The savings are then taxed in the beneficiary's hands. The good news here is that, if your child is in the lowest tax bracket at the time of withdrawal, no taxes will need to be paid.

A key bonus associated with opening an RESP is the Canada Education Savings Grant (CESG). Under the CESG program, the Canadian government tops up your annual contribution by 20%, with the funds paid directly to the RESP. For each benificiary, the maximum annual grant is $500, and the maximum lifetime grant is $7,200.

 

 

Additional Information 
Benefits of an RESP
  • Up to $7,200 in Government Grants
  • Tax-Sheltered Growth
  • Flexible Investment Options
  • Tax Savings
Download Documents
Useful Tools and Information




 

The Value of Advice Getting Advice
Canadians with financial advisors are more confident about their future.

Learn more, download the independent report on
The Value of Advice
Reviewing your Education Savings Plans? We encourage you to talk to us. Click here, if you would like to discuss your financial plan or to receive information by mail. Not a GP client yet? Find out more about:
Download Report
 
Open an Account