Registered education Saving Plan and its Benefits

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REGISTERED EDUCATION SAVING PLAN(RESP)
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WHAT IS REGISTERED EDUCATION SAVINGS PLAN (RESP)

• A registered education savings plan is an
  investment vehicle used by parents to save for
  their children's post-secondary education in
  Canada.
• It is also an  tax-sheltered plan that can help
  you to save for a child's post-secondary
  education.

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BENEFITS OF RESP

• There are many benefits to saving for your
  child's post-secondary education with a Zen Plus
  registered education savings plan
• The money is there when you need it.
• Government contributions
• Tax-sheltered growth
• Flexibility
• Tax savings

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5 REASONS TO START RESP

• Reduce the financial burden of your children when
  they attend post secondary education
• Get 20 grant from federal government under the
  Canada education saving grant up to 500 per year
  or 7200 for lifetime for one RESP
• Get tax exception on RESP contribution.
• Not only children -it will also help parents to
  get rid of financial burden when their start
  attending the secondary education.
• Reduce the childs need to work during the year
  of education

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TYPES OF REGISTERED EDUCATION SAVINGS PLAN

• A registered education savings plan or RESP can
  be set up as a family
• plan with multiple beneficiaries.
• Under a family plan, the beneficiaries must be
  related to you by blood
• or adoption, it may be your children and
  grandchildren.

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WHAT IS EDUCATIONAL ASSISTANCE PAYMENTS (EAPS)?

• If the student is enrolled in a post-secondary
  education program bonds, grants and the
  accumulated income within the RESP can be paid to
  the student at subscribers responsibility. These
  payments are educational assistance payments
  (eaps).

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WHAT IF BENEFICIARY OF RESP DECIDES NOT TO PURSUE
POST SECONDARY EDUCATION

• You will be having the following options
• If you are having a family plan, you can assign
  another beneficiary to accept the government
  grants.
• If you are having an individual plan, you might
  have an option to name an alternate beneficiary.
• If the plan is 10 years old and the beneficiary
  has reached 21, the subscriber can withdraw the
  earnings. The withdrawn amount will be considered
  as taxable income.

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ZEN PLUS

• Zen plus is working for all those who are willing
  to get the benefits by getting registered in
  resp.
• Thinking time is over and it is the time to take
  action.
• Hurry up get connected to Zen plus and register
  your RESP
• Contact Jelan Arumuganathan insurance and
  financial advisor in Ontario.

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