As of September 1, 2023, all of the previously received SAGES will be converted to earnings and will continue to be paid out as part of an Educational Assistance Payment (EAP).

Once SAGES are converted into earnings, the funds will be taxable only when a beneficiary withdraws the funds. The funds will be taxable to the beneficiaries who withdraw, not the subscribers who have deposited.

Eligible clients could receive SAGES along with other government grants, such as the Canada Education Savings Grant (CESG) and the Canada Learning Bond (CLB). Eligible beneficiaries could receive a grant of 10% on contributions made into an RESP to a maximum of $250 per year. The maximum lifetime SAGES grant was $4,500 per beneficiary.

SAGES grant room accumulated on contributions made since January 1, 2013, or since the beneficiary’s date of birth, whichever is most recent, and if the beneficiary was a resident of Saskatchewan when the contribution was made. Where the SAGES grant room had accumulated, beneficiaries were able to receive a maximum additional grant of $250 per year.

Since the program was suspended as of January 1, 2018, you would not have received grants during this period.

We were advised by the government to continue accepting SAGES applications, all of which would have been processed by the Saskatchewan government if and when the program was to resume.