A RESP is a tax-deferred investment plan that helps you to save money; an
investment option that can provide reliable income towards a child’s post-secondary education.
One can contribute up to a maximum of $50,000 per child, up until the child turns 31 years old. Your contribution(s) can also be supplemented by the Government of Canada through the Education Savings Grant (CESG).
Contributions are not Tax-Deferred, but investment income earned is Tax-Sheltered until withdrawn.