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Individual vs. Family RESP


There are two main types of RESP – and which one you choose often depends on your relationship to the beneficiary:

  • An Individual RESP can be opened by anyone for anyone.

  • A Family RESP can be opened by parents or grandparents of the children and can be withdrawn in the name of any beneficiary named to the plan.

Key Differences


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CLEMENT CHUNG, CFP, CLU

Certified Financial Planner

Fee-Based Financial Planning
Burnaby & Metro Vancouver

©2018 by Clement Chung.