You receive an education bonus of up to 15% of your total contributions once your commitment has been fulfilled.
Individual
Anyone can be a Plan Subscriber - no blood or adoptive relation to the child is require
The allocation of your investments relies on a combination of two Diploma funds:
Diploma Elementary Fund
Secondary Fund
The allocation is established according to the child’s age.
— Federal grants of up to $500 per year
— Additional government grants depending on your income
and province of residence
— Tax-free growth for your savings
— An education bonus of up to 15% of the contributions to the
RESP will increase the income paid as Educational Assistance Payments (EAPs)
— Tax-free contribution withdrawals
— Possibility of transferring money invested to your RRSP
if your child doesn’t pursue post-secondary education
— Possibility of changing the plan’s beneficiary
— Access to Diploma Investment Funds and the benefit of a healthy
allocation across various asset classes and geographic regions,
based on the beneficiary’s age
The registered education savings plan (RESP) is an ideal financial tool to help your child get off to a strong start in life. The RESP allows you to amass and grow your savings in a tax-sheltered environment, take advantage of generous government grants and therefore build a better tomorrow for those you hold most dear.
With the Diploma RESP, you can start building a bright future for your closest loved ones today.
With a child comes a future full of promise, dreams to fulfill, goals to achieve and just as many reasons to provide the tools needed to succeed both personally and professionally.
Enabling the pursuit of post-secondary education under the best possible conditions means offering your child a real springboard for the future. It also means providing freedom—financial freedom, of course, but also freedom to choose a path and fully utilize his or her talents.
It’s true that education is expensive. But it is also an excellent investment. More than ever, employers seek qualified, highly-trained candidates with specialized skills.
Two thirds of jobs require a post-secondary education.
Over 80% of post-secondary diploma holders report that they work in jobs related to their field of study.
Over 60% of workers in the highest income bracket hold a post-secondary diploma.
Anyone with an interest in the future of someone close to them can subscribe to an individual Diploma RESP plan, whether it be the parents, grandparents, godfather, godmother, uncle, aunt, or even a friend. The plan subscriber, whether a resident of Canada or not, is the person who signs the contract, and makes contributions to the plan. A co-subscriber can also take part in the plan.
The Diploma RESP is a very flexible plan. You can appoint anyone you would like as the plan beneficiary: your child, grandchild, nephew, niece, etc. There are no restrictions on the beneficiary’s relationship to you.
However, the beneficiary you appoint must be age 14 or under.
A child may be designated as the beneficiary1 of more than one RESP by different subscribers.
The flexibility of our plan allows you to change beneficiaries once the plan has been established. Monthly payments continue until the end of the original commitment period regardless of the age of the new beneficiary. A written notice of the beneficiary change is required, accompanied by the new beneficiary’s Social Insurance Number.