Registered Education Savings Plan

Canada Education Savings Grant

The Canada Education Savings Grant (CESG) is a financial incentive offered by the Government of Canada to help you save for your child’s postsecondary education.

Eligibility

The child must:
  • Be 18 or under
  • Have a Social Insurance Number (SIN)
  • Be the beneficiary of the RESP

Characteristics


Net family
income*
Basic grant on the contribution
Additional grant on the first $500 contribution
Maximum annual grant amount**
Under $39,065
20%
20%
$600
$39,065 to $78,130
20%
10%
$550
Over $78,130
20%
-    
$500
* Net income entered on the 2008 income tax return of the child’s caregiver and his/her spouse.
** Maximum annual amount based on a $2,500 contribution. Unused contribution room may be carried forward to attain $1,000 basic grant. Maximum cumulative amount of $7,200 per beneficiary.


Example for a $2,000 contribution in 2010
Net
family income
Basic grant on the contribution (20%)
Additional grant on the first $500 contribution
Total grant received
Under $39,065
$400
20%
$100
$500
$9,065 to$78,130
$400
10%
$50
$450
Over $78,130
$400
-    
-    
$400


Contact us



Documents

Video

Behind the scenes with our experts.

video Introducing our fund managers.