71%

Parents saving

Share of Canadian parents and guardians of children under 18 who were saving for postsecondary education in 2025.

Statistics Canada SAEP 2025

What the stats say

  • RESPs are large enough to matter nationally: assets reached $89.8 billion at the end of 2024.
  • The basic grant is widely used, but the CESG take-up rate still sat at 53.4% among eligible children aged 0 to 17.
  • The Canada Learning Bond has a larger access gap: cumulative take-up was 43.4%, and new take-up was 18.9% in the 2023-2024 benefit year.
  • RESP withdrawals are already a major postsecondary funding stream, with $6.7 billion withdrawn by 583,079 beneficiaries in 2024.
  • The biggest planning divide is not just awareness. Statistics Canada data shows household income and day-to-day expenses strongly shape whether families can save.

Investing context

Common RESP investment strategies and what the public data can show

RESPs are accounts, not investments. The strategy depends on the promoter, the product menu, the fees, the child's age, and when withdrawals may begin.

No public source publishes average RESP account gains by strategy

The federal CESP review publishes RESP assets, contributions, benefits, withdrawals, take-up rates, and promoter-type shares. It does not publish average account returns by provider, investment product, or portfolio strategy. The year-by-year table below is therefore the closest public program-level proxy: total RESP market value change, which includes contributions, grants, investment returns, withdrawals, and repayments.

Investment services 48.6%

Largest share of RESP assets

Often advisor, mutual-fund, model-portfolio, brokerage, or robo-style RESP access depending on the promoter.

2024 CESP Annual Statistical Review
Banking services 28.8%

Second-largest channel

Common route for families who want branch access, savings accounts, GICs, mutual funds, or bank investment platforms.

2024 CESP Annual Statistical Review
Scholarship plan dealers 16.5%

Group-plan channel

Usually contract-based and pooled. Rules, cancellation terms, fees, and EAP restrictions deserve extra reading before signing.

2024 CESP Annual Statistical Review
Insurance and other 6.0%

Smallest reported channel

A mixed category that can include insurance-linked or other promoter arrangements. Compare product rules and costs carefully.

2024 CESP Annual Statistical Review

Strategy map

Most common RESP investment approaches to compare

This table is a quick decision aid. It does not rank products or providers; it shows where each approach tends to fit and what to ask before choosing.

Approach Best fit Typical holdings Main strength Watch for
Cash, high-interest savings, or GIC ladder Withdrawals expected soon, usually within 0 to 3 years. High-interest savings, term deposits, short GICs, or money-market style holdings. Protects tuition money from a badly timed market drop. Lower long-term growth, inflation risk, deposit-insurance limits, and early-cashout rules.
Diversified ETF or index portfolio Families comfortable with self-directed or robo-advised investing and a multi-year horizon. Broad equity and bond ETFs, often rebalanced annually or through an all-in-one portfolio. Low-cost diversification and easy glide-path adjustments as school approaches. Market volatility, trading/transfer fees, and whether the provider supports all desired grants.
Advisor-managed mutual fund or model portfolio Families who want help with paperwork, risk questions, and ongoing review. Mutual funds, managed portfolios, or provider-built portfolios. Guidance can help families stay organized and avoid missed benefit applications. MERs, advice fees, embedded compensation, and whether performance justifies the cost.
Age-based glide path Subscribers who want a simple rule for reducing risk as the first school year gets closer. More growth assets when the child is young, then more bonds, cash, or GICs near withdrawal years. Matches investment risk to the date the money is likely needed. Some accounts do not adjust automatically. Put review dates on the calendar.
Group or scholarship plan Families who understand the contract and are comfortable with scheduled contributions and plan rules. Pooled plan structure managed by the scholarship plan dealer. Built-in contribution discipline and plan administration. Sales charges, cancellation rules, forfeited earnings, missed-contribution rules, and EAP restrictions.
Concentrated stocks or sector bets Only a small optional slice for experienced investors, not core tuition money. Individual stocks, narrow sector funds, or speculative positions. High upside if the bet works. High loss risk and poor fit for money needed on a fixed school timeline.

Dedicated comparison

Investment paths, tools, outlook, potential, and risks

Use this section to compare the job each path is trying to do. The useful question is not “which one wins?” but “which one fits the child's timeline, the family's risk tolerance, the provider's rules, and the need to protect tuition withdrawals?”

Investment path Tools and checks Planning outlook Potential Risks to weigh Questions before choosing
Cash reserve or GIC ladder OSC time horizon guidance Withdrawal calendar, GIC term ladder, rate comparison, deposit-insurance check, proof-of-enrolment checklist. Capital preservation Best suited to money likely needed within 0 to 3 years.
Low

Lower growth potential, but less chance of being forced to sell after a market drop.
Lower market risk

Inflation risk, reinvestment risk, locked terms, and lower long-term compounding.

 Do maturity dates match school terms? Are deposits insured? What happens if the student delays school?
Age-based glide path OSC asset mix guidance Age-to-school review, target asset mix, automatic or calendar-based rebalancing, first-year withdrawal bucket. Risk steps down over time Starts more growth-oriented when the child is young, then shifts toward stability.
Medium

Moderate-to-strong long-term potential if started early and reviewed before withdrawals.
Medium

Portfolio can stay too aggressive if no one updates it; too conservative too early can reduce compounding.

 Does the provider adjust automatically? What is the current asset mix? When does the first risk reduction happen?
Low-cost diversified ETF or index portfolio OSC diversification guidance Asset-allocation ETF screen, brokerage or robo-advisor comparison, MER check, annual rebalance reminder. Long-horizon growth Works best when the family can tolerate volatility and keep the plan diversified.
Medium-high

Higher growth potential than cash or GICs over long periods, with wider year-to-year swings.
Medium-high

Market volatility, behaviour risk, trading errors, currency exposure, and provider grant-support gaps.

 Does the account support CESG, CLB, and provincial benefits? What are all-in costs? Who rebalances?
Advisor-managed mutual fund or model portfolio OSC provider questions Provider checklist, fee and MER comparison, statement return review, benchmark with similar risk. Guided portfolio Can help with paperwork and risk discipline if advice quality and costs are reasonable.
Medium

Depends heavily on asset mix, fund selection, advice quality, and fees.
Medium

Higher fees, limited product menu, unclear advice responsibilities, and performance lag after costs.

 What are the total annual costs? What benchmark fits this portfolio? What service is included for the fee?
Group or scholarship plan OSC group RESP guidance Plan summary, prospectus, cancellation calendar, fee schedule, missed-contribution scenario check. Contract-driven More about plan rules and contribution discipline than subscriber-chosen asset mix.
Variable

Potential depends on the pooled plan design, staying eligible, and other subscribers leaving or staying.
Rule risk

Sales charges, forfeited earnings, cancellation penalties, EAP restrictions, and schedule pressure.

 What happens after 60 days? What if contributions stop? What earnings or grants could be lost on exit?
Concentrated stocks or sector bets CRA RESP qualified investments FAQ Position-size limit, written risk rule, qualified-investment check, separate core tuition bucket. Speculative satellite Better treated as optional learning capital, not money needed for fixed school costs.
High

High upside if the bet works, but no reliable match to a school-withdrawal timeline.
High

Large losses, concentration risk, timing risk, emotional decisions, and unsuitable holdings.

 Is core tuition already protected? Is this qualified for an RESP? What loss would change the school plan?
Benefit support Promoter and grant checklist

Confirm CESG, CLB, BCTESG, QESI, transfer-in support, and required forms before comparing returns.

Cost drag MER and fee comparison

Compare fund costs, advice fees, trading commissions, transfer fees, group-plan charges, and cancellation costs.

Risk fit Time-horizon and asset-mix review

Match the investment mix to the first expected withdrawal date, not only to the child's current age.

Progress check Personal return and benchmark review

Track actual account progress after contributions, grants, fees, and withdrawals instead of relying on broad averages.

Maintenance Annual rebalance reminder

Keep the portfolio near its planned asset mix and reduce risk as school approaches.

Liquidity Withdrawal bucket planner

Keep the first one or two school-year withdrawals in lower-risk holdings before enrolment deadlines arrive.

Average gains reality check

Closest public proxy: total RESP assets by year

These are not average account gains. They are national RESP asset changes from the CESP review, useful for seeing broad program movement but not for judging a family's portfolio performance.

Year Total RESP assets Change from prior year Visual read
2015 $47.0B Baseline
2016 $51.3B +9.1%
2017 $55.9B +9.0%
2018 $56.1B +0.4%
2019 $63.7B +13.5%
2020 $69.9B +9.7%
2021 $78.0B +11.6%
2022 $73.0B -6.4%
2023 $78.9B +8.1%
2024 $89.8B +13.8%

Source: CESP Table 4. Total market value includes contributions, grants, investment returns, withdrawals, and benefit repayments, so it should not be read as an investor return.

Best fit

Best RESP strategy usually means best matched to the withdrawal date

The strongest long-term setup is normally low cost, diversified, grant-aware, and less risky as the first school year gets closer.

0 to 5 Growth-oriented diversified portfolio

About 13+ years to school

Capture eligible CESG or CLB, keep fees low, and review annually rather than reacting to every market move.

6 to 10 Balanced diversified portfolio

About 8 to 12 years

Keep broad diversification, start documenting grant room, and confirm the provider supports needed provincial benefits.

11 to 14 Balanced-to-conservative glide path

About 4 to 7 years

Gradually reduce equity risk and begin planning which dollars may be needed for the first year of school.

15 to 17 Capital-preservation bucket

About 1 to 3 years

Protect near-term EAP and contribution withdrawals with cash, short GICs, or lower-risk holdings.

In school Liquidity matched to each term

Withdrawals underway

Coordinate proof of enrolment, EAP tax timing, and remaining invested money so the next withdrawal is not forced during volatility.

Benefit capture

Before chasing investment returns, confirm the promoter supports CESG, CLB, and any provincial incentives the beneficiary may qualify for.

Canada.ca opening an RESP
Fees and flexibility

Compare MERs, advice fees, trading costs, transfer fees, cancellation rules, and whether the plan can adapt if school plans change.

OSC RESP provider questions
Product rules

A plan can hold many qualified investment types, but the specific promoter decides what menu is available in that account.

CRA qualified investments folio

Quick comparison

Canada's RESP compared with other countries

These are not perfect equivalents. The table shows the closest official child or education savings structures and the practical difference a Canadian family would notice first.

Country and plan Public top-up Tax treatment Control and use
Canada RESP Canada.ca RESP rules Strong direct education-savings top-up: CESG, CLB, plus provincial incentives in B.C. and Quebec. Growth is tax-sheltered while inside the RESP. Educational assistance payments are taxable to the student. Subscriber opens and controls the plan; funds are tied to eligible postsecondary education.
United States 529 plan Investor.gov 529 bulletin No Canada-style federal matching grant. State tax benefits or matching grants may apply depending on the state plan. Earnings are generally not subject to federal income tax when withdrawals pay qualified education expenses. Account holder owns the plan; state plans set fees, investment menus, and some residency rules.
United Kingdom Junior ISA GOV.UK Junior ISA Tax-free child savings wrapper, but no current government match like CESG. 2026-2027 contributions are capped at GBP9,000. Money grows tax-free inside the Junior ISA. The money belongs to the child and usually cannot be withdrawn until age 18.
Singapore Child Development Account LifeSG Baby Bonus Scheme Government co-savings model: First Step Grant plus dollar-for-dollar matching up to a cap based on birth order. A special child account for approved child-related expenses, not a broad postsecondary investment account. CDA trustee manages use for approved expenses such as childcare, kindergarten, healthcare, and related services.

Provincial differences

Where provincial RESP incentives change the math

Federal CESG and CLB rules matter everywhere, but B.C. and Quebec currently add separate provincial benefits. Saskatchewan is worth showing because its former grant is suspended, which can still confuse families.

Federal baseline

All provinces and territories

CESG and CLB

CESG up to $7,200 lifetime; CLB up to $2,000 lifetime for eligible children.

Available nationally through participating RESP promoters. CLB does not require personal contributions.

Canada.ca education savings benefits
Active

British Columbia

B.C. Training and Education Savings Grant

$1,200 one-time grant.

Apply between the child's 6th birthday and the day before age 9. No matching contribution is required.

Province of B.C.
Active

Quebec

Quebec Education Savings Incentive

10% of annual net RESP contributions, up to $250; possible extra amount up to $50; lifetime maximum $3,600.

Provider/trustee applies for the tax credit. Payment is generally annual rather than monthly.

Revenu Quebec
Suspended

Saskatchewan

Saskatchewan Advantage Grant for Education Savings

Previously 10% up to $250 per year.

Grant payments are suspended as of January 1, 2018; no unused grant room accumulates during the suspension period.

SAGES Act
No separate active provincial RESP incentive listed

Other provinces and territories

Federal benefits only

CESG and CLB may still apply.

CRA's current provincial program list names Quebec QESI and B.C. BCTESG.

CRA provincial programs

Province table

2024 RESP participation by province and territory

Use this table to spot where families contribute more on average, where CESG participation is stronger, and where the Canada Learning Bond access gap is still widest.

Province or territory Average RESP contribution CESG take-up CLB take-up
Newfoundland and Labrador $1,449
43.4%
29.5%
Prince Edward Island $1,579
42.1%
33.9%
Nova Scotia $1,596
42.9%
34.2%
New Brunswick $1,456
41.1%
34.5%
Quebec Active QESI $1,700
59.8%
51.2%
Ontario $1,928
53.9%
42.6%
Manitoba $1,480
40%
32.7%
Saskatchewan SAGES suspended $1,661
43.1%
29.7%
Alberta $1,702
50.9%
40.9%
British Columbia Active BCTESG $1,964
56.9%
51.1%
Yukon $1,993
44.5%
31.8%
Northwest Territories $1,872
30.8%
16%
Nunavut $2,259
5.3%
2.7%
Canada National $1,804
53.4%
43.4%

Average contribution, CESG take-up, and CLB take-up are from the 2024 Canada Education Savings Program Annual Statistical Review.

Evolution

How RESPs changed over time

The RESP story is not just account rules. It moved from a tax-sheltered savings contract to a grant, bond, and provincial-incentive system with a large national funding footprint.

  1. RESP structure begins

    RESPs are introduced as contracts between subscribers and promoters to save for postsecondary education.

    ESDC formative evaluation

  2. CESG changes the incentive

    The Canada Education Savings Grant is established, adding a federal match to eligible RESP contributions.

    ESDC formative evaluation

  3. CLB and Additional CESG arrive

    The Canada Learning Bond and Additional CESG are created to improve access for lower- and middle-income families.

    Canada Learning Bond announcement

  4. Higher contribution room

    The lifetime RESP contribution limit reaches $50,000, and the annual contribution limit is removed.

    ESDC summative evaluation

  5. RESPs reach national scale

    RESP assets reach $89.8 billion, with $6.7 billion withdrawn for postsecondary education during the year.

    2024 CESP Annual Statistical Review

  6. Automatic CLB enrolment planned

    Canada plans automatic RESP opening for eligible children born in 2024 or later who are not already named in an RESP by age 4.

    Canada Learning Bond automatic enrolment
RESP assets
$4B in 1998 $89.8B in 2024

A small tax-sheltered account system became a major national education-savings pool.

CESG take-up
9.7% in 1998 53.4% in 2024

Grant use expanded sharply, but nearly half of eligible children still have not received CESG.

CLB take-up
16.3% in 2008 43.4% in 2024

The low-income access tool has grown, yet new CLB take-up remains below one in five newly eligible children.

RESP withdrawals
$4.2B in 2015 $6.7B in 2024

More students are drawing from RESPs as part of their postsecondary funding mix.

Statistics

RESP program scale

These numbers show that RESPs are a large national savings channel, not a niche product.

Statistics

Government benefits

CESG and CLB data show both strong usage and a remaining access gap, especially for families eligible for the Canada Learning Bond.

Statistics

Withdrawals for school

Withdrawal data matters because it shows how RESP money actually reaches students once postsecondary education begins.

Statistics

Family saving behaviour

Statistics Canada's 2025 survey adds household context: who is saving, how they save, and why some families delay.

Children with savings 89%

Savers using RESPs

Among children under 18 with postsecondary education savings, about 89% had an RESP in 2025.

Statistics Canada SAEP 2025
Lowest vs highest quintile 52% vs 91%

Income gap

Children in the lowest-income families were much less likely to have education savings than children in the highest-income families.

Statistics Canada SAEP 2025
Non-savers 54%

Day-to-day costs

Most common reason parents who were not saving gave for not saving: available funds go to day-to-day expenses.

Statistics Canada SAEP 2025

How to read these numbers

Program dollar amounts, contribution totals, and withdrawals come from the federal Canada Education Savings Program review. Parent behaviour, income differences, and barriers to saving come from Statistics Canada's 2025 survey. The two sources answer different questions, so this page keeps the source and data year beside each statistic.

See all RESP sources