Individual vs. Family RESP
Author: Sound Choices
September 26, 2021
Do you know the difference?
The content in the below article is meant for Canadian investors only.
There are two main types of RESP – and which one you choose often depends on your relationship to the beneficiary:
- An Individual RESP can be opened by anyone for anyone.
- A Family RESP can be opened by parents or grandparents of the children and can be withdrawn in the name of any beneficiary named to the plan.
|INDIVIDUAL RESP||FAMILY RESP|
|Recommended for:||Recommended for:
Ask your financial advisor today about how to get started with education savings, or visit AGF.com/RESP.
- AGF RESP info sheet
- Is your child in high school?
- Canada Learning Bond: No RESP contributions required
- Do you qualify for additional education savings grants?
- FAQs About RESP Subscribers
- Before you make a withdrawal from your RESP…
- Pay Now or Pay Later?
- RESP vs. TFSA – What Are the Key Differences?
- Unused RESP Savings – Use it or Lose it?
About AGF Management Limited
Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF’s suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.
For further information, please visit AGF.com.
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