Wednesday, April 11, 2007

Dear 216K

Canada provides the Canada Education Saving Grant (CESG) program to encourage parents to save for their children's education. For every contribution you make to a Registered Education Savings Plan (RESP), the government will match 20% (with a whole bunch of constraints and limitations).

In practice, the CESG mechanism is that the investment company at which you've created an RESP makes a purchase on your behalf for the appropriate amount (i.e. 20% of whatever you've contributed yourself). You can see this in the pic of a transaction confirmation I received below

I plan on inviting 'Representative 216K' to my child's university convocation. If they can't attend I'm sure they can send a proxy.

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