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RRSP or RESP: Is Lack of Information Affecting Choices? 49% of Quebec’s Families Don’t Know About RESP Grants

RRSP or RESP: Is Lack of Information Affecting Choices? 49% of Quebec's Families Don't Know About RESP Grants

RRSP or RESP: Is Lack of Information Affecting Choices? 49% of Quebec's Families Don't Know About RESP Grants:

More than half the families in Quebec prioritized the RRSP in 2015, while only a quarter invested in an RESP

QUEBEC CITY, Feb. 8, 2016 /CNW/ – With tax season around the corner, many Quebecers are wondering which investment vehicle to prioritize. A recent survey by the CROP polling firm commissioned by the RESP expert Universitas found that nearly half the families surveyed don't know about the financial advantages the RESP offers. Over the last year, only 27% of Quebec's families invested in an RESP, thus missing out on the generous government grants to which their children are entitled for post-secondary education. Results show that families continue to favour the more traditional RRSP (52%) and TFSA (33%). Furthermore, only 9% of the families surveyed believe that, based on their current situation, the RESP should be their first investment choice.

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