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Registered Education Savings Plan (RESP)

An easy way to save for your child's education

Invest early; invest regularly for your child's future with an RESP

An RESP is a government-supported program that helps you save for your children or grandchildren's post-secondary education. Money you invest in an RESP grows without being taxed until it is withdrawn and if it is withdrawn by your child or grandchild, often their tax rate may be lower than yours.

At HSBC you can invest in a Family Plan RESP that enables you to:

  • Invest in a child's education with HSBC's wide range of local and global opportunities found in

    HSBC Mutual Funds1 and HSBC World Selection® Diversified Funds1.

  • Significantly increase your savings when you register your RESP for the Canada Education Savings Grant (CESG), which matches 20% of eligible annual contributions up to a maximum of $500 per child per year (the lifetime limit of the basic CESG is $7,200; certain parents may qualify for the additional CESG, but you should consult your own advisor to determine if you qualify)

Invest in your child's future by contributing to an RESP today.

Benefits and details

  • Government grants
    Build your RESP faster with government grants
  • Often Tax efficient
    Withdraw funds for school at your child's tax rate - which may be lower than yours
  • Flexible plan
    Transfer funds between 2 or more of your children or grandchildren
  • Program options
    Use the funds for a variety of education programs
  • Defer taxes
    Generally pay no tax on the growth in your investments until money is withdrawn
  • Wide selection of investments
    Choose from HSBC Mutual Funds, including World Selection® Diversified Funds
  • Start early, save regularly
    Maximize the benefits of compounding and dollar cost averaging by starting a regular investment plan
  • Flexible savings
    Convert your funds to another investment if the child does not pursue further education

Additional details

How to apply

Open an RESP today

Call and speak to a HSBC Investment Funds (Canada) Inc. Mutual Fund Advisor at 1-888-310-4722.

Apply for additional government grants

Find out if you are eligible.


Estimate the amount you need to save for your child's future education needs.


Explore the latest Value of Education report.


Give your child’s future a $1,200 boost.

1 HSBC Global Asset Management (Canada) limited ("AMCA") is the manager and primary investment advisor for the HSBC Mutual Funds. HSBC Investment Funds (Canada) Inc. ("HIFC") is the principal distributor of the HSBC Mutual Funds. HSBC Mutual Funds are also distributed through other authorized dealers. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus, Fund Facts, and other disclosure documents before investing. Mutual funds are not guaranteed or covered by the Canada Deposit Insurance Corporation, HSBC Bank Canada, or any other deposit insurer or financial institution. The net asset values of all mutual funds, including the HSBC Mutual Funds, may change frequently and any past performance may not be repeated. For money market funds, there can be no assurances that such funds will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you.

All products and services of HIFC and AMCA are only available for sale to residents of Canada, unless the laws of a foreign jurisdiction permit sales to its residents. Please contact your HSBC Mutual Fund Advisor for more details. The contents of this site should not be considered an offer to sell or a solicitation to buy products or services to any person in a jurisdiction where such offer or solicitation is considered unlawful.

HIFC is a direct subsidiary of AMCA and an indirect subsidiary of HSBC Bank Canada, and provides its services in all provinces of Canada except Prince Edward Island. AMCA is a wholly owned subsidiary of, but separate entity from, HSBC Bank Canada and provides its services in all provinces of Canada except Prince Edward Island.

® World Selection is a registered trademark of HSBC Group Management Services Limited.

2 If the beneficiary is already 16 to 17 years old you may still be able to apply for the CESG, if the following conditions are met:
    • An RESP contribution of at least $2,000 must have been made, and not withdrawn, before the year in which the beneficiary turns 16, or,
    • A minimum of four $100 annual contributions must have been made, and not withdrawn, in any of the years before the year in which the beneficiary turns 16

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