A Registered Education Savings Plan (RESP) is an education savings plan that has been registered under the Income Tax Act and offers significant advantages to families saving for their child's future education expenses.

An RESP allows the growth income earned on contributions to remain tax deferred until your child enters a post-secondary program (within 35 years) and the money is withdrawn. A nominated child can be eligible for the Canada Education Savings Grant (up to $7,200) and the Canada Learning Bond (up to $2,000) — that's up to $9,200 in government grants.

Taxes are paid by the student when money is withdrawn to pay for education costs. Since most students have little or no income, the student pays little or no income tax. RESPs can fund most full-time or part-time trade, college or university as long as government requirements are met.

What post-secondary education can be funded with the Global Plan?
Your child can choose any recognized trade, college or university course or program anywhere in the world.

The Global Plan offers a variety of options.
You can transfer the Global Plan to a sibling.
You can fund your own education.
You can transfer up to $50,000 accumulated income to your (or your spouse’s) Registered Retirement Savings Plan to take advantage of any unused contribution room.
You can withdraw the accumulated income as taxable earnings and withdraw your net deposits without being taxed.

What governement grants are available for the Global Plan?
When registered^†, the Global Plan offers tax-deferred growth as well as access to tthe Canada Education Savings Grant (CESG) and Canada Learning Bond (CLB), which can add up to $9,200 in extra savings. Alberta residents can also qualify for the Alberta Centennial Education Savings Plan (ACES). Quebec residents can qualify for the Quebec Education Savings Incentive (QESI).

Global understands that you don't want to take unnecessary risk with your child's future education--that's why the Global Plan primarily invests in federal and provincial government bonds. Your deposits, government grants and income are invested to protect your deposits and deliver a positive return on your investment. The Global Plan is designed to fund your child's future education offering flexibility and security.

Can anyone enroll in the Global Plan?
There are no age restrictions with the Global Plan. A person may enroll now for their own career development, or unforeseen changes in the future. There is a 35-year period from enrollment to use all the funds. Although adult education does not qualify for government grants, the Global Plan still offer tax-deferred compounded growth, safety of funds and flexibility.

Can I Transfer in another RESP to the Global Plan?
You can transfer an existing RESP that you have with another RESP provider to the Global Plan.