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What types of RESPs are available?

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Family plan RESP: You (the subscriber) can name more than one child as a beneficiary of the plan. But, all beneficiaries must be your child, grandchild, great-grandchild or sibling, by birth or adoption. If the child for whom the plan was originally intended doesn’t go to post-secondary education, another child named in the plan can use the funds.

Individual plan RESP: You (the subscriber) can name only one child as the beneficiary, and the child doesn’t have to be related to you.

"SIMPLII FINANCIAL" and the SIMPLII FINANCIAL DESIGNS are trademarks of CIBC. "Simplii Financial" is a division of CIBC. Banking services are not available in Quebec.
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