Smartsaver Community

On March 23, 2017, the CESP issued the following notice to RESP promoters: Saskatchewan Advantage Grant for Education Savings (SAGES) Announcement Information Bulletin

Purpose
This information bulletin is to advise Registered Education Savings Plan (RESP) promoters of a temporary suspension of the Saskatchewan Advantage Grant for Education Savings (SAGES).

Background
On March 22, 2017, the Government of Saskatchewan announced a temporary suspension of SAGES payments into RESPs. You will find the related press release on the government of Saskatchewan web page.

Key dates
SAGES will be suspended, effective January 1, 2018. This means that SAGES will not be paid on contributions made to an RESP after December 31, 2017. The province anticipates that SAGES will resume when the province’s financial situation improves.

Promoter impact
Until more information becomes available, promoters should continue their administration of SAGES as usual. The Canada Education Savings Program (CESP) will continue to work in close collaboration with the Government of Saskatchewan and will advise promoters of any related developments.

Contact 
If you have any questions regarding this information bulletin, please contact the CESP by e-mail at cesp-pcee@hrsdc-rhdcc.gc.ca or call at 1-888-276-3624. Our hours of operation are from 8 a.m. to 5 p.m. Eastern Time.

Source: Canada.ca. ESDC InfoBulletins: RESP, CESG, and the Canada Learning Bond. March 23, 2017.

Parents now have an easy way to find out how much their child could get in federal and provincial grants with a Registered Education Savings Plan (RESP). Our new Eligibility Tool quickly creates a child’s profile based on their age, family income, and their province of residence. The results illustrate the potential funds from sources that include the Canada Learning Bond, the Basic and Additional Canada Education Savings Grants (CESG, and A-CESG), and applicable provincial government contributions. This tool helps families to approximate the value of starting an RESP and accessing available grants.

The Eligibility Tool complements our RESP Savings Calculator that quickly illustrates how grants, combined with savings of any size, can add up over time.

Be sure to share these education saving tools with the families that you serve.