Savings Unique to You
Flex First is an individual RESP built around an education savings goal that is unique to your child. Offering maximum flexibility, with Flex First you can:
- Choose your savings goal, and how much and how often to contribute
- Protect against inflation and the rising cost of education by automatically increasing your contributions by up to 5% a year with our Accelerator option
- Contribute additional funds to reach your savings goal faster
- Choose the amount and timing of RESP withdrawals
With a Flex First Plan, your child can receive these unique bonuses:
- Loyalty Bonus of 0.66% a year on your monthly contributions, paid out when your child enrols in a post-secondary program
- Discretionary payments from Knowledge First Foundation, which may supplement Educational Assistance Payments to your student
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.