Contribute when & how much you want – no scheduled deposit requirement1!
There is no age restriction for the beneficiary that you select.
Beneficiary Insurance is available to protect your beneficiary2.
Eligible Canadians can start a Self-Initiated Option Plan that consists only of the Canada Learning Bond – for those who are eligible, no contributions are required3.
1 Subject to legislative lifetime limits. A minimum contribution of $300 within 12 months of the date of enrolment applies.
2 Offered by Co-operators Life Insurance.
3 You must qualify to receive the Canada Learning Bond.
Select your beneficiary:
Your Beneficiary needs to be a resident of Canada.
Start your contributions:
Start contributing when and how much you choose.1 And you can make your contributions by direct deposit, online banking, Visa, MasterCard, American Express2, or cheque.
1 Subject to lifetime limitations by legislation. A minimum contribution of $300 is required within the first 12 months of the enrolment date.
2 Credit card processing fees applied at the time of payment. (2% Visa, Mastercard) (3% AMEX)
When you open your plan, your trained Dealing Representative will work with you and assist you in applying for all government grants that are available to you.
Going forward, we continue to collect and administer all grants that your child is eligible to receive.
Your Government grants and any Contributions are carefully invested in a professionally managed, safe and secure asset mix.
With your investment income growing in a tax sheltered Plan, you RESP grows for the benefit of your beneficiary.
You select your Plan's date of maturity at the time you open your Plan. When your Plan matures, you let us know about the program of Eligible Studies1 in which your beneficiary is enrolled, and we pay you your net contributions.
You tell us when and how much to pay from your SI Option Plan.2 Government grants collected over the life of your SI Option Plan are paid to beneficiaries as part of EAPs3.
1 Please consult the plan's prospectus for full information and a definition of Eligible Studies. EAPs can be paid up until Dec 31 of the 35th year following the year you open the Plan.
2 Subject to EAP limits set by the federal government.
3 Please see the Master List of Designated Educational Institutions (both in Canada and international) here.
Canada Learning Bond recipients could receive up to $2,000 towards their RESP as set out below1:
Who is eligible?
Generally speaking, Canadian families whose net income is less than $50,197 (2022 income threshold) may be eligible to receive the Canada Learning Bond if the child is born after December 31, 20032. The beneficiary and the subscriber(s) will each need to provide their Social Insurance Number (SIN) to us at the time the Plan is opened.
How does it work?
Your child must qualify to receive the Canada Learning Bond in order to open a Canada Learning Bond Only Self-Initiated Option Plan. To open a Canada Learning Bond Only Self-Initiated Option Plan, you need to meet with one of our Dealing Representatives and complete the documents required to open the Plan, including the process to apply for the Canada Learning Bond, which requires SINs for the beneficiary and all subscribers. You will not be required or asked to contribute any of your own money. Once your application is approved, the Canada Learning Bond will be deposited directly into your child's RESP every year that he or she is eligible (Once you have applied, it is renewed automatically each year). The Bond is usually paid in the month of August.
CEFI waives both the Sales Charge and the Annual Depository fee for subscribers who open a Canada Learning Bond Only Self-Initiated Option Plan3. With the Canada Learning Bond Only Self-Initiated Option Plan, there is no requirement to meet the $300 investment minimum as the subscriber is not contributing his/her own funds.
1 Please see here for more information about the Canada Learning Bond.
2 Please see here for more information about eligibility to receive the Canada Learning Bond.
3 Please refer to the Plan's prospectus for full information on all fees that apply. Fees and restrictions apply if the subscriber contributes his/her own funds and the Plan no longer consists of the Canada Learning Bond only. As long as the Self-Initiated Option Plan consists solely and exclusively of the Canada Learning Bond, there is no requirement to meet the $300 investment minimum.
Our investment objectives are to maximize long-term growth of income on subscribers' RESP savings while ensuring the preservation of those savings.
Pooling your money with other families lets you benefit from professional investment management services in a cost-effective way.
In 2022, the Foundation paid out nearly $118 Million to Canadian families enrolled in our Plans.1
1 Total 2022 payments to Canadian Families includes return of net Contributions at Plans' maturity and total Educational Assistance Payments paid to beneficiaries as reported in the Statement of Changes in Net Assets Attributable to Subscribers and Beneficiaries in our 2022 Annual Audited Financial Statements available here.
Protection of principal, for disciplined and committed savers.
Set your own Plan Contribution Target! Enrol at any age.
For those who are seeking a flexible, individual RESP option.