08/25/2026
Your RESP strategy matters just as much when you start withdrawing as when you’re contributing.
An RESP can help families save for post-secondary education through government grants and tax-deferred investment growth.
When your child begins school, it’s important to understand the difference between the two types of withdrawals:
• Post-Secondary Education Withdrawal (PSE): Your original contributions, which can generally be withdrawn tax-free.
• Educational Assistance Payments (EAP): Includes government grants and investment growth. These amounts are taxable in the student’s hands.
In many situations, withdrawing EAP gradually throughout your child’s education may help manage the taxable income associated with those withdrawals, rather than taking a large amount all at once.
These funds can help cover eligible education-related expenses such as tuition, books, housing, and transportation.
If your child is heading to post-secondary school soon, now may be a good time to review your RESP withdrawal strategy.
Have questions about accessing your RESP? Send us a message.