Welcome! You ve come to the right place to learn more about a great education savings plan!
|
|
- Gloria Adams
- 5 years ago
- Views:
Transcription
1 Welcome! You ve come to the right place to learn more about a great education savings plan! As a parent you always want the best for your child and want to provide them the tools to help them have a successful future. Giving them an opportunity to pursue a higher education is a gift that will last a lifetime, a gift that can never be taken away from them. Heritage Education Funds is one of Canada s leading providers of top performing fixed income RESPs, and we have over 46 years of expertise behind us in helping families from coast to coast. To date Heritage has over $ billion in assets under management, and has paid out more than $80 million in Educational Assistance Payments (EAPs) in 0 alone, resulting in over $700 million to date. We are proud to be assisting Canadian families who value higher education for their children and would like to thank you for inquiring about us today! Talk to a Heritage Representative today! Our experienced sales professionals can customize your RESP to your financial needs and have the expertise behind them to help guide you through your saving process. We know you have a hectic schedule, so we make it easy for you by coming to meet with you in the comfort of your own home, or at a convenient location for you. We provide free consultations, and no obligation is required. Visit our Contact Us page online to find your local representative. Jason Maguire President Follow us to learn more: Heritage RESPs are offered by Prospectus only. Heritage Education Funds is the trade name of the Heritage Education Funds Inc.
2 RESP GUIDE Registered Education Savings Plan Save towards your child s post-secondary education and find out how the government can help you pay for it. Heritage Education Funds RESPs are offered by Prospectus only. Heritage Education Funds is the trade name of Heritage Education Funds Inc.
3 OUR STRUCTURE Heritage Educational Foundation A Canadian company with over $ billion in assets under management. Heritage Education Funds Inc. A Canadian company with over 45 years of RESP expertise, helping families from coast to coast. BENEFICIARIES AND SUBSCRIBERS Over 400,000 Children Parents Grandparents Other family members and friends THE HERITAGE EDUCATIONAL FOUNDATION A non-profit Canadian corporation that provides professional administration of Subscribers contributions and government incentives Professional investment management and administration of Subscriber contributions and government grants The Foundation has returned over $70 million in Savings and Educational Assistance Payments (EAPs) to students and parents since inception Over $370 million in government incentives collected for Subscribers to date Investments or contributions are administered following the guidelines of National Policy 5 and invested in lower risk vehicles like federal, provincial and municipal bonds and Guaranteed Investment Certificates Governed by a Board of Directors HERITAGE EDUCATION FUNDS INC. Distributor of Registered Education Savings Plans (RESPs) and Education Savings Plans (ESPs) since 965 Home Office in Toronto, Ontario BRANCH OFFICES Locations across Canada Provide local Subscriber service and support SALES REPRESENTATIVES Registered Sales Representatives provide professional RESP expertise, enrollment information, ongoing support and services
4 KEY PARTNERS Key Partners Depository The Bank of Nova Scotia Commercial Banking Centre 65 Cochrane Drive, Suite 00 Markham, Ontario, L3R 9R9 Registrar Heritage Educational Foundation 005 Sheppard Avenue East, Suite 700 Toronto, Ontario, MJ 5B4 Trustee and Custodian RBC Dexia Investor Services Trust RBC Centre 55 Wellington Street West, Street Level Toronto, Ontario, M5W P9 Auditors KPMG LLP (Chartered Accountants) Bay Adelaide Centre 333 Bay Street, Suite 4600 Toronto, Ontario M5H S5 External Legal Counsel McMillan LLP Brookfield Place 8 Bay Street, Suite 4400 Toronto, Ontario, M5J T3 Portfolio Advisor Scotia Asset Management L.P. P.O. Box 85 One Queen Street East, Suite 00 Toronto, Ontario, M5C W5 Portfolio Advisor CIBC Wood Gundy 8 Bay Street, Suite 600 Toronto, Ontario, M5J VB Portfolio Advisor UBS Investment Management Canada Inc. 54 University Avenue Toronto, Ontario, M5H 3Z4 Portfolio Advisor Yorkville Asset Management Inc. 55 University Avenue, Suite 704 Toronto, Ontario, M5J H7 Insurance Provider Sun Life Assurance Company of Canada 7 King Street S., P.O. Box 638, Stn. Waterloo Waterloo, ON NJ 4B8 Distributor Heritage Education Funds Inc. 005 Sheppard Avenue East, Suite 700 Toronto, Ontario, MJ 5B4 Acts as Depository for all Contracts, The Bank of Nova Scotia receives Contributions made by Subscribers, deducts Membership Fees and, if applicable, Insurance Premiums and remits the balance, together with any interest, to the Trustee who deducts Depository Fees and contributes the balance to the account maintained by the Trustee in trust for the Subscriber. Acts as Registrar for the Plans. Acts as Trustee of the Plans. Are the Auditors of the Plans. Is the External Legal Counsel for the Foundation. Is a Portfolio Advisor for the Foundation assisting the Foundation in investing principal and investment income earned thereon. Provides investment advice to the Foundation regarding certain investments. Provides investment advice to the Foundation regarding certain investments. Provides investment advice to the Foundation regarding certain investments. Provides optional life and disability insurance protection. Is the Distributor of the Plans.
5 The cost How much will it cost? It is estimated that the full cost of a 4-year undergraduate degree from a Canadian university in 09 could be over $40, Year of Birth Year of School Entrance Estimated Cost of Total Tuition for a 4-Year Program (At Home) Estimated Cost of Total Tuition and Accommodation for a 4-Year Program (Away from Home) 0 09 $90,6 $43, $85,734 $36, $8,8 $9, $76,75 $, $7,69 $6, $68,709 $, $65,00 $05, $6,50 $00, $58,99 $95, $55,066 $90, $5,0 $86, $49,96 $8, $46,64 $77, $44,3 $73, $4,755 $70,4 Today s average cost of a 4-Year program beginning in 00/0 $3,66 $54,394 Average cost of a 4-Year program in 009/00 was $9,958 $5,404 You already know what your options are Today families without an RESP have to: Borrow the money Withdraw funds from their personal savings, retirement funds or investments Mortgage their home Pay-as-they-go Let their child earn the money or depend on student loans People don t plan to fail, they simply fail to plan. 3 These amounts are calculated using the average annual increase in the total cost of tuition and the average annual increase in the cost of accommodation from 995/996 to 006/007 (5.69% and 4.53%, respectively). Source: Statistics Canada.
6 THE SOLUTION The Solution: A Registered Education Savings Plan (RESP) What is an RESP and Why Invest in One? EDUCATION SAVINGS VEHICLE GOVERNMENT INCENTIVES RESPs are education savings vehicles registered by the Federal Government. Contributors are known as the Subscribers Children are known as the Beneficiaries Savings are eligible for the Canada Education Savings Grant (CESG) and the Canada Learning Bond (CLB), as well as Provincial Incentive Programs. LOWER RISK INVESTMENT AND FLEXIBILITY Heritage Education Funds RESPs are invested in lower risk investments that earn a competitive and consistent return. If your child does not pursue postsecondary education, you may be allowed to withdraw and transfer the accumulated income of up to $50,000 of earnings per Subscriber from your RESP to your RRSP or spousal RRSP. TAX BENEFITS Investment income on Contributions up to $50,000 are tax-sheltered until withdrawn by the student (Beneficiary) and taxed at the student s tax bracket. ANYONE CAN START SAVING Parents, grandparents, other family members and friends can all help to save towards the first year of a child s post-secondary education and the Heritage Educational Foundation will provide Educational Assistance Payments (EAPs) towards one or more of the nd, 3rd and 4th year. Today many parents utilize government programs to help save towards their children s future education. What is the Canada Education Savings Grant (CESG)? Basic CESG: The Federal Government tops up your annual RESP contribution by 0%, up to $500 a year, per eligible child. Additional CESG: Qualifying families may receive up to 40% on the first $500 of annual RESP contributions. Both Basic and Additional CESG have a combined total lifetime maximum of $7,00 per eligible child. What is the Canada Learning Bond (CLB)? For qualifying families who open an RESP, a $500 CLB from the Federal Government is available to help save for a child s post-secondary education and will be deposited into the child s RESP. Annual CLB installments of $00 are also available in each subsequent year provided the family still qualifies. Total available CLB grant is up to $,000 per child for a qualifying family. Certain conditions apply. See Prospectus for full details. 4
7 Key RESP benefits The Key Benefits of Investing Inside an RESP vs. Outside an RESP You could gain over $3,870 more! Total Value Of Investment In 8 Years $97,890 The total value of investment may increase for those who qualify for CLB and/or provincial grants. Total Value Of Investment In 8 Years $65,03 $0,03 $7,387 $7,00 $38,303 Your total personal contributions over 8 years Compound income earnings on your investment Maximum CESG of $7,00 Income earnings on CESG $45,000 $45,000 Outside an RESP (NOT Tax-Sheltered) 6.75% Growth Inside an RESP (Tax-Sheltered) 6.75% Growth Start early. Invest often. Stay invested. $0,000 $00,000 $80,000 $60,000 $40,000 $0,000 0 Newborn Age at which contributions begin The earlier your child is enrolled in a Heritage Education Funds RESP, the longer your savings have time to grow. Start saving today and benefit from the power of compound growth. RESP contributions CESG Income earned on RESP contributions Income earned on CESG 5 Both of these examples are based on annual contributions of $,500 and exclude fees. The income that would be earned is assumed to be 6.75% gross per annum, compounded monthly, over 8 years. This assumption is based on the 5 year return of the DEX Universe All Government Bond Index as at December 3, 00. A marginal tax rate has been applied to the Non-RESP income earnings. Individual circumstances and actual results may vary. This assumes the Basic CESG which is equal to 0% of the total annual contributions to a maximum of $500 per eligible child, per calendar year. Certain conditions apply. See prospectus for full details.
8 TWO TYPES OF RESPS Two Types of RESPs Individual (Self-Directed) RESP Group (Pooled) RESP Offered by: Banks, Trust Companies, Life Insurance Companies, Financial Advisors, Mutual Fund Companies, Heritage Education Funds (Impression Plan RESP). Scholarship Plan Dealers such as Heritage Education Funds (Heritage Plan RESP). Benefits: Net principal savings. Interest on net savings. Interest on government incentives. Net principal savings. Income on net savings. Income on government incentives. Key Differences: ) Attrition may not be available. ) Enhancements may not be available. 3) A choice of lower risk returns or potentially riskier high returns may not be available. 4) Insurance protection may not be available 4. 5) Some individual RESP providers may not participate in all government incentive programs. 6) Mutual funds in which RESPs are invested are subject to an annual Management Expense Ratio (MER) fee and other fees such as trustee, administration and account fees that are charged regardless of fund performance. The average Canadian MER is.45% 6. There also may be a sales commission typically ranging from 0% to 6% which is not returned. ) Attrition may increase your return. In 00, 0.9% of the total EAP came from attrition. ) Enhancements 3 may increase your return. In 00,.4% of total EAP came from enhancements. 3) Lower risk investments such as municipal, provincial and federal bonds. Other investments include corporate bonds and principal protected notes. 4) Optional life and disability insurance protection. 5 5) Access to all government incentives for which your child is eligible. 6) For the Heritage Plans, similar to an MER, an administration fee of 0.50% and portfolio management fee of 0.05% to 0.0% is charged annually. The depository fee of $3.50 $0.00 is levied based on the contribution method chosen. Up to 00% of the Membership Fees ($00 per unit) may be returned with EAPs depending on the Scholarship Option selected 3, 5. Attrition is the term that applies to the share of pooled income that remains in an RESP, after any Beneficiaries in the same group as your Beneficiary, do not qualify for payments. For those Beneficiaries, the Principal is returned to the Subscriber, but the income that was earned on the Principal stays in the total asset pool, to be shared by Beneficiaries remaining in the pool. Please refer to the Heritage Plans most recent prospectus for the Attrition and Enhancement rates of the past five (5) years. 3 Discretionary payments (consisting of Membership Fee returns and enhancements) are not guaranteed. You should not count on receiving a discretionary payment. The Foundation decides if it will make a payment in any year and how much the payment will be. 4 Some insurance companies who offer RESPs may provide life or disability insurance protection benefits (but most other providers do not). 5 Certain conditions apply. See Prospectus for full details. 6 Source: PalTrak (.3.00) 6
9 THE HERITAGE PLAN RESPs How do Heritage Plan RESPs work? SELF-DETERMINED OPTION (Self-Determined Plan, also known as Self-Directed or Individual Plan) LESS THAN YR. PROGRAM Allows a minimum 3 week program of study in different educational institutions Pay-out Option Selection 80 days prior to Maturity (Maturity may be delayed or advanced by up to years) Years MATURITY YEARS OF RESP LIFETIME Acceptance of Enrollment Eligibility for CESG Contribution Period SCHOLARSHIP OPTION (Group Plan, also known as Pooled Plan) 4 YR. PROGRAM OPTION 3 3 YR. PROGRAM OPTION YR. PROGRAM OPTION Allows up to 4 one-year programs of study in different educational institutions 7 Student must enroll in a program of at least 3 consecutive weeks in Canada (studying no less than 0 hours per week for full-time or no less than hours per month for part-time) or a 3 week full-time program outside of Canada. Accumulated income may be withdrawn as taxable income by the Subscriber less a 0% withholding tax (% for residents of Quebec) or transferred to their RRSP or Spousal RRSP, up to a limit of $50,000 per Subscriber (subject to RRSP contribution room). Certain conditions apply. See Prospectus for full details.
10 THE HERITAGE PLAN RESPs Pay-Out Options SELF-DETERMINED OPTION YOUR SAVINGS RETURNED TO YOU TAX-FREE at the maturity of your plan. Can be used to fund st year of post-secondary education. You select the Option that meets your requirements. All of your earned income, government incentives and interest on government incentives (if applicable) paid to the Student, subject to tax. SCHOLARSHIP OPTION Used to fund nd year of post-secondary education and beyond. Paid to the Student, subject to tax. An Educational Assistance Payment (EAP) advance installment is available. SCHOLARSHIP OPTION ONE PAYMENT OF: EAP (including gov. incentives and interest on gov. incentives) SCHOLARSHIP OPTION TWO PAYMENTS OF: EAP (including / gov. incentives and / interest on gov. incentives) SCHOLARSHIP OPTION 3 THREE PAYMENTS OF: EAP (including /3 gov. incentives and /3 interest on gov. incentives) Your savings are returned tax-free. EAPs are taxed at the student s marginal rate which is typically the lowest tax rate. Each EAP consists of income earned on savings, attrition 3 and enhancement 4. An amount equal to 5%, 50% or 00% of your Membership Fees may be returned based on the Scholarship Option selected. 4 Student must enroll in a program of at least 3 consecutive weeks in Canada (studying no less than 0 hours per week for full-time or no less than hours per month for part-time) or a 3 week full-time program outside of Canada. Accumulated income may be withdrawn as taxable income by the Subscriber less a 0% withholding tax (% for residents of Quebec) or transferred to their RRSP or Spousal RRSP, up to a limit of $50,000 per Subscriber (subject to RRSP contribution room). Certain conditions apply. See Prospectus for full details. 3 Attrition is the term that applies to the share of pooled income that remains in an RESP, after any Beneficiaries in the same group as your Beneficiary, do not qualify for payments. For those Beneficiaries, the Principal is returned to the Subscriber, but the income that was earned on the Principal stays in the total asset pool, to be shared by Beneficiaries remaining in the pool. 4 Discretionary payments are not guaranteed. Discretionary payments consist of Membership Fee returns and enhancements to EAPs. You should not count on receiving a discretionary payment. The Foundation decides if it will make a payment in any year and how much the payment will be. 8
11 HERITAGE PORTFOLIO Where Does My Money Go? As per National Policy 5, the assets in the Heritage Plans are invested in various lower risk investments that earn a competitive and consistent return, including: Government Bonds (Federal, Provincial and Municipal) Guaranteed Investment Certificates (GICs) and similar debt obligations of a chartered bank Principal Protected Notes Corporate Bonds T-Bills Heritage Plan RESPs for the period ending September 30 th, 0 Heritage Plan RESPs - Asset Weighting 4.5% 7.3% 6.5% Sector Allocations % of Market Value Provincial Bonds 48.%.0% Federal Bonds 4.5% Structured Notes 7.3% Bank Deposits/GICs 6.5% 48.%.6% Short Term Investments.0% Corporate Bonds.6% Heritage Plan RESPs Returns (Net of Fees) Portfolio Returns (Market) Year 3 Year 5 Year 0 Year 4.98% 6.83% 5.0% 6.38% 9 Investment returns have been calculated using market values and time-weighted cash flows during the periods. These returns are net of fees incurred by the Heritage Plans, including administration fees and advisory fees. As with all investments, we caution that past performance is not indicative of future returns.
12 SAFE MONEY You want your child s savings to be safe! PERFORMANCE OF CONSERVATIVE INVESTMENTS 6.34% HEFI Plan.7% Money Market Funds.0%.6% 4.6% CSB s GIC s Cnd Fixed Income Heritage Education Funds Heritage Plan (HEFI ) 0-year return on underlying portfolio Canadian Money Market Funds Average of all funds in this category with a 0-year history Canada Savings Bonds Average rate of return over the 0-year period Guaranteed Investment Certificates Average rate of return over the 0-year period Canadian Fixed Income Average of all funds in category with a 0-year history But performance matters... $40,000 $35,000 $30,000 $5,000 $0,000 $5,000 $0,000 $5,000 NET GROWTH (INTEREST EARNED) ON $00 IN MONTHLY SAVINGS OVER 8 YEARS $6,994 $9,959 $3,30 $7,35 $,47 $6,409 Heritage Plan Growth 3 $3,685 D C B A $0 3% 4% 5% 6% ANNUAL RATE OF RETURNS 7% 8% Value of Investment after 8 years A The income that was paid out to Beneficiaries in the same age group and with the same number of units of your Beneficiary whose Plans matured in 008. Actual results may vary. B This represents 0% of your eligible contributions from the Canada Education Savings Grant program and may include additional incentives depending on your annual income. C The interest is calculated based on the amount of interest earned on the government incentives of Beneficiaries in the same age group as your Beneficiary for the period ending 0 which is equivalent to the rate of 4%, compounded monthly. Capital gains and losses earned on government incentives are paid out to Beneficiaries as part of their EAPs. Actual results will vary. D Attrition value is the term that applies to the share of pooled income that remains in the Heritage Plans, after any Beneficiaries in the same group as your Beneficiary, do not qualify for payments. For those Beneficiaries, the Principal is returned to the Subscriber, but the income that was earned on the Principal stays in the total asset pool, to be shared by Beneficiaries remaining in the pool. The attrition value illustrated here has been calculated as 0.4% of the EAPs paid out to Beneficiaries whose Plans matured in 008 and who received all EAPs to which they were entitled. This percentage is based on the number of Beneficiaries not proceeding forward over the past 5 years and the average portion of income earned by them over the past 5 years. For a further explanation on how attrition applies to your Plan, and for the attrition rates over the past 5 years, please see the Heritage Plans most recent prospectus. Returns (net of fees) from Heritage Educational Foundation Source: PalTrak This includes Income on Principal, CESG, attrition D, and interest on CESG for a Heritage Plan RESP where $00 per month was contributed over a period of 8 years. It is also based on Scholarship Option #3 where the Beneficiary completed 4 years of post-secondary education by 0. This total is provided for illustrative purposes only. The total amount that you will receive will differ, depending on the actual performance of the Heritage Plans. Additional amounts may be paid from the Enhancement Fund* as a top up to EAPs. * Discretionary payments (consisting of enhancements) are not guaranteed. You should not count on receiving a discretionary payment. The Foundation decides if it will make a payment in any year and how much the payment will be. 0
13 Our Beneficiaries tell us how much having a Heritage RESP has meant to them : When I was about one year old, my parents decided to invest the money they received from their family allowance into an RESP. I was not aware at that early age of the efforts my parents had to make to put money aside for my future, despite their modest income. Thanks to all their efforts, I will graduate this spring and I will be able to sleep without a care because I will have no student loan debt. Thank you Mom and Dad. Valerie Michaud, Riviere-du-Loup, Quebec My parents thought well ahead in planning to pay for my post-secondary education. I am going to make my parents proud by making effective use of their money and having a great career (my goal is to become a pharmacist). I am very lucky to be a Heritage beneficiary. Shraddha Patel, Brampton, Ontario Growing up in a low-income family, I was raised to understand the value of money and work towards my own goals. Because of my Heritage RESP, I am halfway towards earning my degree to become a registered nurse. I cannot thank my parents enough for thinking about my education early in my life. Claire Horton, Fort Langley, B.C. When I graduate, I will feel so relieved to be debt-free. I truly feel for my peers who have to rely on loans to pay for their education and the worries this brings to their life. So thank you Dad and thank you Heritage for guiding me financially through my university career. Laura Campanaro, LaSalle, Ontario Thanks to Heritage and my grandparents, I am able to pursue my professional dreams and volunteer my time to help great causes. I am pursuing medicine through a Bachelor of Science Major in Biology and I couldn t have done it without my RESP! Jessica Schnerch, Winnipeg, Manitoba A Heritage RESP has given me the opportunity to pursue a post-secondary education without the constant worry of student loans. I am proud to say that I am about to accomplish one of many dreams (a B.A. in Sociology) but not without a thank you to my parents and Heritage. Cindy Yong, Calgary Alberta Having a Heritage RESP has allowed me to pursue an Honours Education degree. Since it is hard for me to get enough money through summer work, I can rely on Heritage to provide me with the support I need to pay my way through school. Courtney MacAdam, Thorold, Ontario Having a Heritage RESP has provided me with peace of mind and helped me stay focused on school and on the right path to achieve my goals. Sivanithy Granapandithan, Toronto, Ontario For more information please contact: Heritage Education Funds Inc. 005 Sheppard Avenue East, Suite 700, Toronto, Ontario MJ 5B4 Toll Free: Phone: Fax: customercare@heritageresp.com 08E.
GoVernment can Help YoU PAY FOR IT. Heritage Education Funds RESP GUIDE. and find out how the. your child s post-secondary education
Heritage Education Funds RESP GUIDE REGISTERED EDUCATION SAvINGS PlAN save towards your child s post-secondary education and find out how the GoVernment can Help YoU PAY FOR IT 2 ABOUT HERITAGE RESP GUIDE
More informationSAVE TOWARDS. and find out how the GOVERNMENT CAN HELP YOU PAY FOR IT
HERITAGE EDUCATION FUNDS RESP GUIDE REGISTERED EDUCATION SAVINGS PLAN Over a 40-year period, a university graduate earns $915,840 more than a college graduate and earns on average $1.4 million more than
More informationSAVE TOWARDS. and find out how the GOVERNMENT CAN HELP YOU PAY FOR IT
HERITAGE EDUCATION FUNDS RESP GUIDE REGISTERED EDUCATION SAVINGS PLAN Over a 40-year period, a university graduate earns $1.1 million more than a college graduate and earns on average $1.5 million more
More informationRESP GUIDE REGISTERED EDUCATION SAVINGS PLAN
Education Funds THE HERITAGE PLANS RESP GUIDE REGISTERED EDUCATION SAVINGS PLAN Over a 40-year period, a university graduate earns $1.1 million more than a college graduate and earns on average $1.5 million
More informationPROSPECTUS Continuous Offering Detailed Plan Disclosure
No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. PROSPECTUS Continuous Offering Detailed Plan Disclosure IMPRESSION PLAN TM August
More informationWhat RESP should I choose? What questions should I be asking? Ask: Make sure you:
What RESP should I choose? The RESP you choose will depend on how many beneficiaries you have, how old they are and what you want to invest in. Use the table included in this brochure to better understand
More informationEducation Funds International EDUCATION SAVINGS PLAN GUIDE PROVIDING. a brighter FUTURE FOR CHILDREN TODAY
Education Funds International EDUCATION SAVINGS PLAN GUIDE PROVIDING a brighter FUTURE FOR CHILDREN TODAY 2 ABOUT HERITAGE ESP GUIDE ABOUT HERITAGE Heritage, the Education Savings Plan provider of choice
More informationPROSPECTUS Continuous Offering Detailed Plan Disclosure
No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. PROSPECTUS Continuous Offering Detailed Plan Disclosure HERITAGE PLANS August
More informationCONTINUOUS OFFERING. Every dream needs a Plan. January 31, 2017 LEGACY EDUCATION SAVINGS PLAN (LESP) DETAILED PLAN DISCLOSURE
CONTINUOUS OFFERING DETAILED PLAN DISCLOSURE January 31, 2017 LEGACY EDUCATION SAVINGS PLAN (LESP) The minimum subscription is $504, which is the price of each Unit. This investment fund is a scholarship
More informationNo securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise.
No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. Continuous Offering Prospectus Detailed Plan Disclosure August 27, 2014 knowledgefirst
More information> Giving the gift of knowledge. Your guide to saving for a child s post-secondary education
> Giving the gift of knowledge Your guide to saving for a child s post-secondary education TABLE OF CONTENTS 1 > The value of education 2 > The Registered Education Savings Plan (RESP): The foundation
More informationTAX, RETIREMENT & ESTATE PLANNING SERVICES. Registered Education Savings Plans (RESPs) THE FACTS
TAX, RETIREMENT & ESTATE PLANNING SERVICES Registered Education Savings Plans (RESPs) THE FACTS A Registered Education Savings Plan (RESP) is a tax-assisted plan that can help save money for post-secondary
More informationGroup Savings Plan 2001
PLAN SUMMARY Group Savings Plan 2001 Type of Plan: Group Scholarship Plan Investment Fund Manager: C.S.T. Consultants Inc. May 9, 2017 This summary tells you some key things about investing in the Plan.
More informationEvery dream needs a Plan
Every dream needs a Plan Education, Globally Yours CONTINUOUS OFFERING DETAILED PLAN DISCLOSURE February 9, 2015 GLOBAL EDUCATIONAL TRUST PLAN (GETP) The securities offered by this Full Prospectus are
More informationEducation Funds International EDUCATION SAVINGS PLAN GUIDE PROVIDING. a brighter FUTURE FOR CHILDREN TODAY
Education Funds International EDUCATION SAVINGS PLAN GUIDE PROVIDING a brighter FUTURE FOR CHILDREN TODAY 2 ABOUT HERITAGE ESP GUIDE ABOUT HERITAGE Heritage, the Education Savings Plan provider of choice
More informationbuilding your child s future Dynamic Registered Education Savings Plan
building your child s future Dynamic Registered Education Savings Plan 2 According to Statistics Canada, undergraduate students paid an average of $5,138 in tuition fees for the 2010/2011 school year.*
More informationEDUCATION SAVINGS DIPLOMA. Who can help you design. their future? A partner you can trust.
EDUCATION SAVINGS DIPLOMA Who can help you design their future? A partner you can trust. www.inalco.com Advantages of a Diploma RESP: Accumulate the necessary funds to finance a child s post-secondary
More informationIMPRESSION PLAN. Unaudited Financial Statements of. Six month period ended June 30, 2016
Unaudited Financial Statements of Six month period ended June 30, 2016 The interim financial statements included herewith have not been reviewed by the external auditors of the Plan. 2 UNAUDITED FINANCIAL
More informationGiving the Gift of Knowledge
Giving the Gift of Knowledge Your guide to saving for a child s post-secondary education Professional Wealth Management Since 1901 Table of contents The value of education 1 The Registered Education Savings
More informationRESP Guide REGISTERED EDUCATION SAVINGS PLANS INVEST IN YOUR CHILD S FUTURE
RESP Guide REGISTERED EDUCATION SAVINGS PLANS INVEST IN YOUR CHILD S FUTURE College and university are more important than ever before. Generally, two out of every three new jobs require some form of
More informationRESP Dealers Association of Canada. Sales Representative Proficiency Course
RESP Dealers Association of Canada Sales Representative Proficiency Course 2011, RESP Dealers Association of Canada All rights reserved. No part of this publication may be reproduced, stored or transmitted
More informationMEMBER EDUCATION SAVINGS Planning For The Future
MEMBER EDUCATION SAVINGS Planning For The Future Registered Education Savings Plan A Smart Way to Save for Your Family s Future A Registered Education Savings Plan (RESP) is a government approved plan
More informationRESP ADVISOR GUIDE. How to help your clients make the most of their education savings plans
RESP ADVISOR GUIDE How to help your clients make the most of their education savings plans SECTIONS 1 What is an RESP? 1 2 Family Plans vs. Individual Plans What s the difference? And what s right for
More informationCanadian Scholarship Trust Family Savings Plan
Canadian Scholarship Trust Family Savings Plan Semi-Annual Financial Statements April 30, 2009 Unaudited Contents Statements of Net Assets Available for Education Assistance Payments 1 Statements of Investment
More informationA partner you can trust.
EDUCATION SAVINGS MY EDUCATION Who can help them discover the world? A partner you can trust. www.inalco.com Advantages of a My Education RESP: Lets you accumulate the funds necessary to finance a child
More informationEstablishing an educational path
Establishing an educational path Setting up an RESP A Registered Education Savings Plan (RESP) is a savings tool primarily designed to assist in saving for a child s postsecondary education. Contributions
More informationGiving the Gift of Knowledge. Saving for a child s post-secondary education
Giving the Gift of Knowledge Saving for a child s post-secondary education Table of Contents The Value of Education... 1 The Registered Education Savings Plan (RESP)... 2 Opening an RESP... 2 Making Contributions...
More informationGIVE YOUR CHILD A HEAD START
GIVE YOUR CHILD A HEAD START A PROACTIVE INITIATIVE FOR YOUR CHILD S FUTURE! As parents, we do everything we can to nurture our children s potential. We encourage them, read to them, help with homework,
More informationCanadian Scholarship Trust Family Savings Plan. Semi-Annual Financial Statements April 30, Unaudited
Canadian Scholarship Trust Family Savings Plan Semi-Annual Financial Statements April 30, 2011 Unaudited Contents Statements of Net Assets Available for Education Assistance Payments 1 Statements of Investment
More informationRegistered Education Savings Plans (RESPs)
October 27, 2011 Registered Education Savings Plans (RESPs) Withdrawing from the plan and non-resident issues If your registered education savings plan (RESP) beneficiary has enrolled or is enrolling in
More informationAUDITORS REPORT AND FINANCIAL STATEMENTS
AUDITORS REPORT AND FINANCIAL STATEMENTS December 31, 2009 MANAGEMENT S RESPONSIBILITY FOR FINANCIAL REPORTING The accompanying audited financial statements of (the Plan ) have been prepared by management
More informationSavings tools (detailed)
Handout -7 High interest savings account This is a type of deposit account. The bank pays you interest. The rate changes with the prime rate set by the bank. This is called a variable rate of interest.
More informationKnowledge First Financial Product Knowledge Course
Knowledge First Financial Product Knowledge Course Flex First Plan Family Group Plan Family Single Student Plan (September 2015) Glossary We, our and us: Knowledge First Foundation and Knowledge First
More informationSales Representative Proficiency Course
RESP D ealers A ssociation of C anada Sales Representative Proficiency Course 2011, RESP Dealers Association of Canada All rights reserved. No part of this publication may be reproduced, stored or transmitted
More informationMANAGEMENT REPORT OF FUND PERFORMANCE
MANAGEMENT REPORT OF FUND PERFORMANCE This annual management report of fund performance contains financial highlights but does not contain the complete annual audited financial statements of the Global
More informationRegistered Education Savings Plans (RESPs)
The Navigator RBC WEALTH MANAGEMENT SERVICES Registered Education Savings Plans (RESPs) Establishing an RESP With the high cost of post-secondary education, many parents, grandparents and other family
More informationThis is the second article in a two-part series. The first article, Establishing an RESP, covers the basics of RESPs including:
RBC Wealth Management Services The Navigator Registered Education Savings Plans (RESPs) Withdrawing from the plan and non-resident issues If your registered education savings plan (RESP) beneficiary has
More informationGIVE YOUR CHILD A HEAD START
GIVE YOUR CHILD A HEAD START A PROACTIVE INITIATIVE FOR YOUR CHILD S FUTURE! As parents, we do everything we can to nurture our children s potential. We encourage them, read to them, help with homework,
More informationYour Guide to Understanding RESP. registered education savings Plan
Your Guide to Understanding RESP registered education savings Plan 2013/2014 Table of Contents WHAT IS AN RESP? 1 Types of RESP plans Types of investments for RESPs How much can be contributed to an RESP?
More informationMEMBER EDUCATION SAVINGS Planning For The Future
MEMBER EDUCATION SAVINGS Planning For The Future Registered Education Savings Plan A Smart Way to Save for Your Family s Future A Registered Education Savings Plan (RESP) is a government approved plan
More informationTax & Retirement Planning Guide
Tax & Retirement Planning Guide TD Asset Management Inc. realizes the importance of maximizing investors after-tax income. For most Canadians, paying taxes is their biggest lifetime expense. Tax planning
More informationGood education A great investment
Good education A great investment Investing in the future It all starts with our children Whether it s university, college or a trade school program, helping a deserving child obtain a quality education
More informationRegistered education savings plans (RESPs)
Tax & Estate Registered education savings plans (RESPs) Frequently asked questions Government grants and tax-deferred growth make RESPs an attractive way to save for the rising cost of a child s post-secondary
More informationMaking RESP Withdrawals
High school graduation day has come and gone, and your son or daughter is taking the next step in their educational pursuits by starting college or university. Fortunately, you've planned for this day
More informationTax & Retirement Planning Guide
Tax & Retirement Planning Guide TD Asset Management Inc. (TDAM) understands the importance of maximizing the after-tax income for investors since, for most Canadians, paying taxes is their biggest lifetime
More informationPlan Summary Flex First Plan ( Flex First )
Plan Summary Flex First Plan ( Flex First ) Type of Plan: Individual scholarship plan Investment Fund Manager: Knowledge First Financial Inc. August 25, 2016 This summary tells you some key things about
More informationCanadian income tax system. For the purposes of this article, we assume you are a tax resident of Canada.
The Navigator RBC Wealth Management Services Tax planning basics This article provides an overview of the Canadian tax system, basic investments and how the two interact. By investing tax-efficiently,
More informationAMENDMENTS TO PROSPECTUS
AMENDMENTS TO PROSPECTUS No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. Amendment No.1 dated June 8, 2018 made to the prospectus
More informationManagement Report of Fund Performance and Audited Financial Statements. Impression Plan
Management Report of Fund Performance and Audited Financial Statements Impression Plan For the year ended December 31, 2011 Management Report of Fund Performance Management Report of Fund Performance Impression
More informationTAX, RETIREMENT & ESTATE PLANNING SERVICES TAX MANAGED STRATEGY 9. RESPs no longer just for kids
TAX, RETIREMENT & ESTATE PLANNING SERVICES TAX MANAGED STRATEGY 9 RESPs no longer just for kids When most people think of Registered Education Savings Plans (RESPs), they think of an educational savings
More information2016 Annual Statistical Review. Canada Education Savings Program
2016 Annual Statistical Review Canada Education Savings Program Canada Education Saving Plan Annual Statistical Review 2016 This publication is available for download at canada.ca/publicentre-esdc. It
More informationCanada Education Savings Program Annual Statistical Review Canada Education Savings Program LC E
Canada Education Savings Program Annual Statistical Annual Review Statistical 2013 Review 2013 Canada Education Savings Program LC-146-07-14E You can download this publication by going online: http://www12.hrsdc.gc.ca
More informationRegistered Education Savings Plans
Registered Education Savings Plans L / RC4092 (E) Rev. 11 www.cra.gc.ca Canada Revenue Agency Agence du revenu du Canada NOTE: In this publication, the text inserted between square brackets represents
More informationRESPS: SAVING FOR YOUR CHILD S EDUCATION
RESPS: SAVING FOR YOUR CHILD S EDUCATION As a parent, you re concerned with the ever increasing costs of post-secondary education. You want your child to have at least the same opportunities you had if
More informationGIVE YOUR CHILD A HEAD START
GIVE YOUR CHILD A HEAD START A PROACTIVE INITIATIVE FOR YOUR CHILD S FUTURE! As parents, we do everything we can to nurture our children s potential. We encourage them, read to them, help with homework,
More informationThis document is available on demand in multiple formats by contacting O-Canada ( ); teletypewriter (TTY)
You can download this publication by going online: canada.ca/publicentre-esdc This document is available on demand in multiple formats by contacting 1 800 O-Canada (1-800-622-6232); teletypewriter (TTY)
More informationMANAGEMENT S RESPONSIBILITY FOR FINANCIAL REPORTING
MANAGEMENT S RESPONSIBILITY FOR FINANCIAL REPORTING The accompanying unaudited financial statements of Global Educational Trust Plan (the Plan ) has been prepared by management and approved by the Board
More informationTHE ADVISOR April
THE ADVISOR April 14 2008 Registered Education Savings Plans (RESPs) Part 1 Establishing an RESP Craig Wolkoff, CFP Financial Advisory Support What is an RESP? With the high cost of post-secondary education,
More informationRegistered Education Savings Plans
Registered Education Savings Plans What is a Registered Education Savings Plan? A registered education savings plan (RESP) is a contract between an individual (the subscriber) and a person or organization
More informationModule 5 - Saving HANDOUT 5-7
HANDOUT 5-7 Savings Tools (detailed) 5 Contents High interest savings account This is a type of deposit account. The bank pays you interest. The rate changes with the prime rate set by the bank. This is
More informationThe Justwealth Guide to Registered Education Savings Plans
The Justwealth Guide to Registered Education Savings Plans Smart Investing for Education Learn more at justwealth.com Justwealth The Justwealth Guide to Registered Education Savings Plans 1 Saving for
More informationCanadian Scholarship Trust Plan II. Semi-Annual Financial Statements April 30, Unaudited
Canadian Scholarship Trust Plan II Semi-Annual Financial Statements April 30, 2012 Unaudited Contents Statements of Net Assets Available for Education Assistance Payments 1 Statements of Investment Operations
More informationRegistered education savings plans
Registered education savings plans The Basic Canada Education Savings Grant (and other government grants) and tax-deferred growth make RESPs an attractive way to save for the rising cost of a child s education.
More informationGrandparents and RESPs Hope (and Help) for the Future
Grandparents and RESPs Hope (and Help) for the Future Grandparents naturally want to help their grandchildren get a good education; is opening a separate RESP really the best option? Brought to you by
More informationCanada Education Savings Program Annual Statistical Review Canada Education Savings Program Annual Statistical Review 2014 LC E
Canada Education Savings Program Annual Statistical Review 2013 Canada Education Savings Program Annual Statistical Review 2014 LC-155-07-15E You can download this publication by going online: publicentre.esdc.gc.ca
More informationEducation With a Home State Advantage. The Advisor Sold College Savings Plan For Connecticut Residents
Education With a Home State Advantage The Advisor Sold College Savings Plan For Connecticut Residents CHET Advisor is administered by the Treasurer of the State of Connecticut as the trustee of the Connecticut
More informationAdvanced Education Savings Plan
Audited Financial Statements Advanced Education Savings Plan For the years ended March 31, 2018 and March 31, 2017 March 31, 2018 Table of contents Management s Responsibility for Financial Reporting...
More informationThis document contains the Annual Management Report of Fund Performance ( MRFP ) for the Family Single Student Education Savings Plan (the Plan ).
Management Report of Fund Performance For the fiscal year ended April 30, 2017 This document contains the Annual Management Report of Fund Performance ( MRFP ) for the Family Single Student Education Savings
More informationOntario Works Policy Directives
Ontario Works Policy Directives 4.7 Pensions, RRSPs and RESPs Legislative Authority Section 7(3) of the Act. Sections 14(1), 15.1, 17(2), 32, 38, 39, and 62(3) of Regulation 134/98. Audit Requirements
More informationCanada Education Savings Program Annual Statistical Review. December 2008
Canada Education Savings Program Annual Statistical Review December 2008 TABLE OF CONTENTS MESSAGE TO STAKEHOLDERS... 3 CANADA EDUCATION SAVINGS PROGRAM (CESP)... 4 REPORT METHODOLOGY... 4 KEY HIGHLIGHTS
More informationRegistered education savings plans (RESPs)
Registered education savings plans (RESPs) The Basic Canada Education Savings Grant (and other government grants) and tax-deferred growth make RESPs an attractive way to save for the rising cost of a child
More informationRESP. Diploma. Product Guide. For use by Financial Advisors
RESP Diploma Product Guide For use by Financial Advisors TABLE OF CONTENTS 1. GENERAL INFORMATION... 1 1.1. What is the goal of a Registered Education Savings Plan?... 1 1.2. What sets the DIPLOMA RESP
More informationHERITAGE EDUCATION FUNDS INC.
Education Funds HERITAGE EDUCATION FUNDS INC. NOTICE OF SPECIAL MEETING OF SUBSCRIBERS OF Heritage Plans to be held at 10:00 a.m. (EDT) on May 29, 2014 at the Duncan Room of the Westin Prince Hotel, 900
More informationAudited Financial Statements and Management Report of Fund Performance. Semi-Annual Financial Statements April 30, Unaudited
Canadian Canadian Scholarship Trust Trust Founders Plan vings Plan 2001 Audited Financial Statements and Management Report of Fund Performance Semi-Annual Financial Statements April 30, 2013 Unaudited
More informationYear-End Tax Planner Our latest ideas and tips in reducing your 2018 tax burden
www.segalllp.com December 2018 Year-End Tax Planner Our latest ideas and tips in reducing your 2018 tax burden Welcome! Dear clients and friends, as we approach the end of another year, now would be a
More informationMANAGEMENT REPORT OF FUND PERFORMANCE
MANAGEMENT REPORT OF FUND PERFORMANCE This annual management report of fund performance contains financial highlights but does not contain the complete annual audited financial statements of the Global
More informationYour Guide to Understanding RESP REGISTERED EDUCATION SAVINGS PLAN
Your Guide to Understanding RESP REGISTERED EDUCATION SAVINGS PLAN 2018/2019 Table of Contents WHAT IS AN RESP 1 Types of RESP Plans Types of Investments for RESPs How Much Can Be Contributed to an RESP
More informationUsing TFSA and RESP for your child s post secondary education
Using TFSA and RESP for your child s post secondary education PROJECTED TUITION FEES FOR FULL TIME STUDENTS IN CANADA University is expensive 2017-2018 $7,755 Canadian Centre for Policy Alternatives 2014-2015
More information2013 Year End Tax Tips
TAX TIPS 2013 Year End Tax Tips Jamie Golombek, CPA, CA, CFP, CLU, TEP Managing Director, Tax & Estate Planning, CIBC Wealth Advisory Services Jamie.Golombek@cibc.com With December 31 st fast approaching,
More information2013 Year End Tax Tips by Jamie Golombek
November 2013 2013 Year End Tax Tips by Jamie Golombek With December 31st fast approaching, here s our updated, annual look at some year-end tax tips you may wish to keep in mind as we enter the final
More informationProfessional Wealth Management YOUR EDUCATION
Professional Wealth Management G E T T I N G T H E M O S T F R O M YOUR EDUCATION S A V I N G S P L A N RBC INVESTMENTS RBC INVESTMENTS FINANCIAL PLANNING PUBLICATIONS You have choices when it comes to
More informationMaximize your RESP contribution by Dec. 31 st and take full advantage of the CESG
Time is running out... Mr. John Sample 124 Main Street Suite 301 Toronto, ON M5A 1A2 Maximize your RESP contribution by Dec. 31 st and take full advantage of the CESG 497 7114 Dear Mr. Sample, When you
More information2014 Year End Tax Tips
TAX TIPS 2014 Year End Tax Tips Jamie Golombek, CPA, CA, CFP, CLU, TEP Managing Director, Tax & Estate Planning, CIBC Wealth Advisory Services Jamie.Golombek@cibc.com 1. Tax-loss selling Tax-loss selling
More informationUnit 8: Pensions and Retirement
Unit 8: Pensions and Retirement Welcome to Pensions and Retirement. In this unit, you will learn about the various types of public and private savings plans. You will learn about the different types and
More information2012 Year End Tax Tips
2012 Year End Tax Tips Jamie Golombek November 2012 It s the most wonderful time of the year! That s right, time to start your year-end tax planning so that any strategies that need to be implemented by
More informationSun Limited Pay Life. My current coverage Statement period: December 8, 2009 to December 7, My insurance policy statement
sample Contact Information Jane Doe 227 King St. S Waterlo, ON N2J 4C5 Jennifer Doe, CFP, CLU, CH.FC. Tel: (000) 123-4567 ext. 1234 Or call our Customer Care Centre toll free at 1 877 SUN-LIFE / 1 877
More informationRegistered Savings VS Tax Free Savings
Registered Savings VS Tax Free Savings RRSP WHAT IS AN RRSP? A Registered Retirement Savings Plan (RRSP) is a personal savings plan registered with the Canada Revenue Agency (CRA) that is designed to help
More informationManagement Report of Fund Performance and Audited Financial Statements
Management Report of Fund Performance and Audited Financial Statements IMPRESSION Plan Years ended December 31, 2014 and 2013 2 Management Report of Fund Performance Management Report of Fund Performance
More informationB M O N E S B I T T B U R N S
B M O N E S B I T T B U R N S The RESP Book REGISTERED EDUCATION SAVINGS PLANS Saving for Your Child's Education Registered Education Savings Plans Canada Education Savings Grant Taking Money Out of an
More information2013 Edition. Ontario Health Tax
2013 Edition This article, prepared by PAIRO s auditors Rosenswig McRae Thorpe LLP, outlines some points to consider in preparing your income tax returns. Remember that: RRSP Contribution Deadline for
More informationLooking back to 2011 and FORWARD TO 2012
December 2011 YEAR-END TAX PLANNER 2011/2012 IN THIS ISSUE Federal Highlights 1 Provincial Highlights 1 Entrepreneurs 1 Personal Tax Matters 2 United States Matters 5 International Matters 5 Key Tax Dates
More informationDiploma product guide
education savings Diploma product guide For exclusive Use by financial advisors registered education savings plan a partner you can trust. Table of Contents 1. GENERAL INFORMATION 4 1.1. WHAT IS THE GOAL
More informationCreating Retirement Income With Registered Assets
Registered Retirement Savings Plans (RRSPs) represent the most effective way to save for retirement. Subject to contribution rules and limits, you are allowed to defer income taxes each year on the amount
More informationREPORTER SPECIAL EDITION CORPORATE TAXATION UPDATE REVISIONS TO SMALL BUSINESS DEDUCTION
REPORTER SPECIAL EDITION NOV. 2016 ASSURANCE / TAX / BUSINESS ADVISORY SERVICES CORPORATE TAXATION UPDATE REVISIONS TO SMALL BUSINESS DEDUCTION In its budget of March 16, 2016, the Quebec government made
More informationRE: OSC Notice (Revised) Request for Comments Regarding Statement of Priorities for Fiscal Year Ending March 31, 2010
Via Email May 29, 2009 Ontario Securities Commission 20 Queen Street West Suite 1900, Box 55 Toronto, Ontario M5H 3S8 Attention: Robert Day Manager, Business Planning rday@osc.gov.on.ca Dear Sirs/Mesdames:
More informationRegistered Education Saving Plan Withdrawals
Now and Tomorrow Excellence in Everything We Do Registered Education Saving Plan Withdrawals Technical Report Prepared for the Canada Education Savings Program Summative Evaluation By: Edouard Imbeau December
More informationRegistered Education Savings Plans
Registered Education Savings Plans What is a Registered Education Savings Plan? A registered education savings plan (RESP) is a contract between an individual (the subscriber) and a person or organization
More informationtogether The goals of your children. The guidance of your Advisor. The benefits of a NEST 529 Advisor Plan.
together The goals of your children. The guidance of your Advisor. The benefits of a NEST 529 Advisor Plan. Think of all you invest in a child. Time. Care. Love. And now... an education. As far away as
More informationCanadian Scholarship Trust. Founders Plan. Semi-Annual Financial Statements April 30, 2010 Unaudited
Canadian Scholarship Trust Founders Plan Semi-Annual Financial Statements April 30, 2010 Unaudited Contents Statements of Net Assets Available for Education Assistance Payments 1 Statements of Investment
More information2018 Personal Income Tax Checklist To Be Filed in 2019
Chartered Professional Accountants Chartered Accountants Licensed Public Accountants Business Advisors Stern Cohen LLP 45 St. Clair Avenue West, 14th Floor Toronto ON M4V 1L3 Tel: 416-967-5100 Toll-free:
More information