Registered Education Savings Plan

Why open a CIBC Investor’s Edge RESP?


Build your portfolio your way 
Six dollars and ninety five cents.
Pay $6.95 per online equity trade
Pay no annual administration fees
Get access to government grants

Which plan is right for you?

Choose from 2 types of RESP to find the account that fits your needs.

Individual plan

An individual plan has one beneficiary. The subscriber doesn’t need to be a family member, but the primary caregiver must be listed on the application.

Family plan

Family members, usually parents or grandparents, can open a family plan for one or more beneficiaries and also add new beneficiaries in the future. Subscribers must be related to all beneficiaries.

Key Terms 

RESP basics

  • Your investment grows tax-free until withdrawn
  • Account earnings and government grants withdrawn for educational expenses are taxed in the hands of the beneficiary
  • Maximum lifetime contribution limit of $50,000 per beneficiary 
  • Beneficiaries may be eligible for government grants

Catching up on missed grants

  • If you contribute less than $2,500 in a year, unused portions of the $500 Canada Education Savings Grant will carry forward

Government grants




Basic Canada Education Savings Grants (CESG)
  • 20% on the first $2,500 contributed to an RESP each year (maximum $500 per beneficiary)
  • CESG can be carried forward up to a maximum of $1,000 per year
  • Lifetime maximum of $7,200 per beneficiary
  • Available up until the end of the calendar year in which the beneficiary turns 17
  • Special rules apply at ages 16 and 17
Additional CESG
  • 10% or 20% on the first $500 contributed to an RESP each year, depending on family income
  • Paid in addition to Basic CESG
Canada Learning Bond (CLB)
  • $500 when you open an RESP
  • $100 in subsequent years for up to 15 years
  • Available to children born after December 31, 2003
  • Family must be receiving the National Child Benefit Supplement

A head start that pays off — literally

Take advantage of CIBC Investor’s Edge student pricing to grow your savings on a budget.

Learn more about our student pricing. Opens in a new window.