There are specific RESP withdrawal rules contributors or beneficiaries must follow to avoid penalties. RESP is a government initiative that encourages parents to invest in their child(ren)’s post-secondary education. Funds in an RESP account are tax-free and generate an instant 20% return on investments. The good thing is that anyone can open an RESP account …
With Canada’s aging population, more residents will be looking to retire in the coming years. A government benefit designed to help Canadian retirees is the Public Service Pension Plan (PSPP). The main objective of the Public Service Pension Plan is to supply a retirement income to eligible residents during their lifetime. In addition to retirement …
If you don’t know what RESP stands for, it is the acronym for the Registered Education Savings Plan. This Canadian government program caters for post-secondary education for kids in Canada. If you’d like to save or make an investment into the higher education of yourself or your loved ones, then RESP is the perfect program …
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