www.leedsgrenville.com




Improved future earnings potential
Higher labour force participation rates
Less susceptible to unemployment
Business, government, society...
 Children with as little as
$3,000 in savings have
greater odds of graduating
from high school than
children with no savings.
 The existence of any education savings can
increase the likelihood that a child will
graduate high school by 50%!
 Canada Education Savings Grant
(CESG)
• Grant equal to 20% of contributions
 Additional CESG
• Additional 20% depending on income
• Up to $2,000 to child’s RESP with no
contribution requirement
• The “bucket” which holds the
savings for school.
• Not the same tax exemptions
for the contributor as RRSP
contributions
• RESP contents also
qualify for government
grants to supplement and
enhance the savings

A federal education grant

Up to $2,000 in education funds for
eligible children

No parent/family contributions
required

Currently only 1 in 3 children who are
eligible are accessing this grant
 National average uptake was
27% in 2012

Child born in 2004 or later

Eligible for National Child Benefit
Supplement (NCBS) for the child;
eligible for CLB

$500 on enrolment

$25 to cover cost of opening an
RESP

$100 every year after to age of 15 to or maximum
of $2,000 CLB per eligible child; continued NCBS
eligibility required.

Retroactivity
Two easy steps…
1) Social Insurance number (SIN)
for parent and child
 Need birth certificate to
apply for SIN
2) Open a RESP with a provider
who offers the Canada
Learning Bond
Contact Bank to discuss or let
smooth the way.
Use Smartsaver.org
to find a financial
provider who offers
the Canada Learning
Bond
1. Online tool to apply for CLB and to initiate process to open
an RESP
2. Just need SIN numbers on hand (parent and child)
3. 10 minutes to complete online application
4. SmartSAVER sends to financial institute of client choice
5. Financial Institute calls client to arrange an appointment
6. Attend with identification, and sign the paperwork
1.
Lack of awareness
of CLB and how
to access it
 Awareness
/Education
campaign
 Ongoing referral
and support to
clients
2.
Fear it will affect
benefits
 It is fully exempt;
no impact
3.
Lack of proper
identification or
the funds to
secure
 Birth Certificate
cost $25
 SIN is free!
4.
Multiple steps
 Coordinate sign
up events with
banks and
Service Canada
 Apply through
SmartSAVER.org
1
Educate and equip Case Managers to refer
2
Fund Birth Certificates through Discretionary
Benefits for OW and ODSP recipient families
3
Workshops for Clients
4
Referral for 1:1 support and assistance applying
• Started promotion to staff and in turn clients in
November 2015.
• Approximately 25 of 50 parents referred have
attended the workshops that ran into midDecember.
• To quantify follow through in January 2016.
• Tweak and Repeat
Up-take rates
by first 3
digits of
postal code
Tools and
Resources
are available
Outreach
toolkit
Videos
Wallet
Cards
Organize a
Sign Up
Event
RESP Event
checklist
and steps
Cobranded
Financial
Institution
Fact Sheets
Generic
Fact Sheet