Child Plan™ is not an RESP (Registered Education Savings Plan). The RESP is a government program where your child can only use the funds you saved if they attend a post secondary education approved by the government of Canada. Child Plan™ is your private plan and the fastest growing alternative to RESP, and the only tax-free investment parents and grandparents can open for their children in Canada which they can access for any education program around the world and for any financial need during their life.
Child Plan™ can be opened by parents, grandparents, aunts, uncles and legal guardians.
Child Plan™ can be opened by a parent, grandparent, aunt, uncle, or legal guardian for a child as young as 14 days old. While it’s best to start early, Child Plan™ can also be opened for children over the age of 18.
You or your child can access the cash values in five different ways. As your Family Advisor, I will outline the five ways when you speak with them in person or by phone.
There is no minimum or maximum amount. Your investment depends on your family budget. Our average family contributes $225 per month or $2,700 per year to their child’s Child Plan™; however, we have families who contribute $100 per month and some who contribute $500 per month. It’s entirely up to your budget.
No. There are no taxes or fees when you transfer ownership of the Child Plan™ to your child.
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