Heritage Plans

Heritage Plans are group RESPs where you are part of a group of plans having the same year of maturity.  Income earned under the plans is pooled together and used for payments to the students to help cover the costs of their post-secondary education.

The Heritage Plan can be an appropriate choice for you if you are fairly certain that:

  • You will be able to make all your contributions according to your contribution schedule;
  • You will stay in the plan until it matures; and
  • Your child will enroll in eligible studies.

At maturity, you can select from 3 different scholarship options tailored to the students who are pursuing 2, 3 or 4 years of post-secondary studies.  Or you can select the self-determined option that works like an individual plan where you have until the 35th year to withdraw the funds.

How to Contribute

There is no minimum investment amount to enroll in the plan. You can contribute any amount up to $50,000 per child.
You have a choice of seven contribution options:

  1. Single lump-sum contribution: a one-time contribution;
  2. Annual contribution: one contribution per year until the contribution schedule is complete;
  3. Monthly contribution: one contribution per month until the contribution schedule is complete;
  4. Five-year annual contribution: one contribution per year for five years;
  5. Five-year monthly contribution: one contribution per month for five years;
  6. 10-year annual contribution: one contribution per year for 10 years; or
  7. 10-year monthly contribution: one contribution per month for 10 years.

How Your Money Is Invested

With the Heritage Plan, you don’t have to worry about making investment decisions or managing a portfolio. We take care of that for you.  Income earned in the plans may be invested in a diversified portfolio of corporate bonds, Canadian equities, US and Canadian Exchange Traded Funds (“ETFs”).  The aim of this investment strategy is to increase returns through diversification or products and stock market exposure.

For full details on the Heritage Plan, please see the prospectus.

Impression Plan

The Impression Plan is designed for parents who want more flexibility over when and how much to contribute to their plan. With the Impression Plan, you have the flexibility to miss one or more contributions, reduce the amount of your regular contributions or stop making contributions for any period of time.

You can transfer your Heritage Plan to our Impression Plan at any time prior to maturity provided your plan has been open for at least three years and you have made no withdrawals of income other than for a qualifying program of study. There is a minimum contribution of $100 to open a plan.

For full details on the Impression Plan, 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

    Read More

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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