Wealthsimple offers the following government RESP grants:
- Canadian Education Savings Grant (CESG): An annual government match of 20% of your contributions to a maximum of $500/year per beneficiary, and a lifetime maximum of $7,200 per beneficiary.
- British Columbia Training and Education Savings Grant (BCTESG): A one-time grant of $1,200 for children between the ages of 6 and 9. You and the child must be residents of British Columbia.
- Saskatchewan Advantage Grant for Education Savings (SAGES): An annual government match of 10% of your contributions to a maximum of $250/year per beneficiary and lifetime maximum of $4,500 per beneficiary. The beneficiary must be a resident of Saskatchewan.
- Additional Canada Education Savings Grant (A-CESG): Grants for low-income and middle-income families depending on family income levels and contributions.
- Canada Learning Bond (CLB): Grants for families that receive the National Child Benefit Supplement (usually received by lower-income families).
The CESG and A-CESG are automatically applied for whenever you open an RESP account at Wealthsimple! There is no additional information required from you. If you are eligible for additional provincial grants and/or the Canada Learning Bond, please check off the box when completing the account opening process on your Wealthsimple account online. You will see these boxes at the bottom of the first page when you choose to open an RESP.
The Québec Education Savings Incentive (QESI) is not offered at Wealthsimple yet. We hope to be able to offer it to you soon! If you are interested and want to be updated when we offer it, send us an email at email@example.com.