Flex First

Our Most Flexible RESP


Flex First is our most flexible RESP. When you open your plan, you’ll set your own Total Contribution Goal (TCG) based on the amount you want to save for your child’s post-secondary education. To reach your TCG, you can choose to make regular contributions once or twice a month, to contribute a lump sum once a year or to make `ad-hoc’ contributions as your cash flow permits.


You can change the amount and frequency of your contributions or change your TCG at any time, as long as you don’t exceed the $50,000 RESP maximum contribution limit.


How Your Money Is Invested

With a Flex First RESP, you don’t have to worry about making investment decisions or managing a portfolio. We take care of that for you with a strategy focused on providing steady growth in your investments over the long term.

Your contributions, along with government grants and the income earned on both, are invested mainly in Canadian fixed-income securities such as federal, provincial and municipal bonds, mortgage-backed securities, treasury bills and investment-grade corporate bonds. A portion may also be invested in Canadian and U.S. equities or exchange-traded funds (ETFs), which have the potential to generate dividend income and capital gains.


Loyalty Bonus

Your Flex First plan may be eligible to earn a loyalty bonus of 0.66% a year. The loyalty bonus is calculated at the end of each calendar month from the time you open your plan until August 31 of the year your plan beneficiary turns 18. The bonus is based on a percentage of the total amount of net contributions in your plan at the beginning of the calendar month less any contribution withdrawals made during that month.

The loyalty bonus accumulates on behalf of your plan and is paid out when your child enrolls in an eligible program of study.

For full plan details, please see the prospectus.


Government Grants

An RESP is the best way to save for post-secondary education because contributions are eligible to receive education savings grants. Determine which government grants are available to you.


Forms & Resources

  • Social Insurance Number Application

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  • Canada Education Savings Grant and Canada Learning Bond

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  • Application for British Columbia Training and Education Savings Grant

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We’re Here to Help

Whether you’re ready to start saving for your child’s education or have questions about Flex First or any of our plans, a Knowledge First Financial Representative will be happy to help you.

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