Invest in your child's future
A post-secondary education can be expensive. To manage these costs successfully, you need an effective, flexible savings plan. An effective way to save for your child's post-secondary education is with a CIBC Registered Education Savings Plan (RESP).
How much can I invest?
The lifetime RESP contribution limit is $50,000 per child and contributions can be made until the child turns 31. There is no annual maximum contribution limit.
The Canada Education Savings Grant (CESG) from the federal government may add to your RESP contribution, up to $500 per year, per child. If there is unused grant room from previous years, the CESG could be up to $1000 per year, per child through additional contributions. The CESG is payable until the end of the calendar year a child turns 17, and the maximum lifetime CESG payment is $7,200.
CIBC RESP investment choices
We offer a number of CIBC investment solutions for your CIBC RESP portfolio:
Many investors don't have the time or expertise to build a diversified portfolio and constantly monitor and adjust it. CIBC Managed Portfolio Services, our "All-In-One Fund Solution", is an easy and effective way to hand the responsibility of managing your money to professional investment managers.
Whether you're a savings-oriented investor, a growth-oriented investor, or somewhere in between, we offer a comprehensive selection of individual mutual funds with a full range of savings, income, and growth funds, as well as one of Canada's largest family of index funds.
CIBC offers RESP Guaranteed Investment Certificates (GICs) in terms ranging from 1 to 5 years. These GICs provide guaranteed principal and interest, making them an ideal part of a diversified portfolio.
Or for self-directed investors…
The CIBC Investor's Edge RESP is a self-directed plan, which allows you access to stocks, bonds, GICs and more than 2,000 mutual funds. The hallmarks of a self-directed RESP are flexibility, control, and broad investment choice.
Important Information about CIBC Securities Inc. and Mutual Funds
CIBC Mutual Funds and CIBC Family of Managed Portfolios are offered by CIBC Securities Inc., a subsidiary of CIBC. The CIBC Family of Managed Portfolios consists of CIBC Managed Portfolios and CIBC U.S. Dollar Managed Portfolios, which are mutual funds that invest primarily in CIBC Mutual Funds. CIBC Managed Portfolio Services is a service that helps you select an appropriate professionally built CIBC Managed Portfolio or CIBC U.S. Dollar Managed Portfolio. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read CIBC Mutual Funds and CIBC Family of Managed Portfolios prospectuses before investing. To obtain a copy, call CIBC Securities Inc. at 1-800-465- 3863 or ask your mutual fund representative at any branch where CIBC Mutual Funds and CIBC Family of Managed Portfolios are sold. For periods greater than one year, the indicated rates of return are the average annual compound total returns as of the date indicated and all returns include changes in unit value and the reinvestment of all distributions and do not take into account sales, redemption, distribution or other optional charges or income taxes payable by any unitholder that would have reduced returns. The performance data for money market funds also shows the current yield and effective yield as of the date indicated and assumes the reinvestment of distributions only and does not take into account sales, redemption, distribution or other optional charges or income taxes payable by any unitholder that would have reduced yields. CIBC Mutual Funds and CIBC Family of Managed Portfolios are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer, nor are they guaranteed by CIBC. There can be no assurance that money market funds will be able to maintain their net asset value per unit at a constant amount or that the full amount of your investment in a fund will be returned to you. The values of many mutual funds, such as income and growth funds, can change frequently. Past performance may not be repeated.
The U.S. dollar versions of funds/portfolios are not eligible for registered accounts offered by CIBC Securities Inc. The U.S. dollar versions of funds/portfolios can be held within registered CIBC Investor Services Inc. accounts. Other dealers may allow the funds/portfolios to be purchased in U.S. dollars within registered accounts.
CIBC Mutual Funds and CIBC Family of Managed Portfolios are available across Canada. The information contained on this site does not constitute an offer or solicitation to buy or sell any investment fund, security or other product, service or information to any resident of the U.S. or the U.K. or to anyone in any jurisdiction in which an offer or solicitation is not authorized or cannot legally be made or to any person to whom it is unlawful to make an offer or solicitation.
CIBC representatives offering mutual funds in Quebec are "Mutual Fund Representatives" of CIBC Securities Inc.
The information is not intended to provide specific financial, investment, tax, legal or accounting advice for you, and should not be relied upon in that regard. You should not act or rely on the information without seeking the advice of a professional.
CIBC Guaranteed Investment Certificates (GICs) are offered by CIBC Trust Corporation, a wholly-owned subsidiary of CIBC, and are unconditionally guaranteed by CIBC.
* CIBC Investor's Edge is the discount brokerage division of CIBC Investor Services Inc. (CIBC ISI). CIBC ISI does not provide you with any legal, tax, or accounting services or advice regarding the suitability or profitability of a security or investment in a CIBC Investor's Edge account. You assume full responsibility for transactions in your CIBC Investor's Edge account and for your investment decisions. CIBC ISI is a subsidiary of CIBC and Member CIPF.