Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
  1. Homepage
  2. Equities
  3. Canada
  4. Toronto Stock Exchange
  5. AGF Management Limited
  6. News
  7. Summary
    AGF.B   CA0010921058


SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

AGF Management : Individual vs. Family RESP

09/26/2021 | 05:22pm EDT

Insights and Market Perspectives

Author: Sound Choices

September 26, 2021

Education Savings:
Do you know the difference?

The content in the below article is meant for Canadian investors only.

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

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  • A Family can be opened by parents or grandparents of the children and can be withdrawn in the name of any beneficiary named to the plan.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

  • There must be only one active beneficiary at all times.
  • You can name one or more beneficiaries.
  • You want to save for yourself or for a child who is or is not related to you by blood or adoption as per the Income Tax Act (e.g., nieces, nephews, cousins).
  • All beneficiaries in the plan must be related to you by blood or adoption (i.e., children, grandchildren, siblings).
  • The beneficiary can be named to the RESP at any age.
  • Beneficiary must be under age 21 to be added.
  • Can be made for up to 31 years after the plan is started.
  • Remain the property of the subscriber.*
  • Can only be made for the current year, up to a lifetime limit of $50,000.
  • Can be made for a beneficiary until age 31.
  • Remain the property of the subscriber.*
  • Can only be made for the current year, up to a lifetime limit of $50,000 per beneficiary.
  • Must be made in the name of a specific beneficiary.
Recommended for:
  • Single-child families.
  • Families with large age differences between children.
  • Subscribers* who want to set up an RESP for themselves or someone they're not related to.
Recommended for:
  • Single-child families planning to have more children.
  • Families with more than one child or planning to have more than one child.
  • Families with more than one child as the government grants and income - with the exception of the Canada Learning Bond (CLB) - are shared by all beneficiaries in the plan.**

* A subscriber is the person opening an RESP and making contributions on behalf of a beneficiary. **Additional Canada Education Savings Grant (CESG), British Columbia Training and Education Savings Grant (BCTESG), Quebec Education Savings Incentive Increase (QESI Increase) and Saskatchewan Advantage Grant for Education Savings (SAGES) can only be paid if all beneficiaries of the Family RESP are siblings. While the Canada Learning Bond (CLB) can be paid into a sibling-only Family plan, unlike the other plans mentioned above, the CLB cannot be shared among siblings.

Ask your financial advisor today about how to get started with education savings, or visit AGF.com/RESP.

Additional Resources

The commentaries contained herein are provided as a general source of information and should not be considered personal investment or tax advice. Every effort has been made to ensure accuracy in these commentaries at the time of publication; however, accuracy cannot be guaranteed. Market conditions may change investment decisions arising from the use or reliance on the information contained here.
The contents of this Web site are provided for informational and educational purposes, and are not intended to provide specific individual advice including, without limitation, investment, financial, legal, accounting or tax. Please consult with your own professional advisor on your particular circumstances.
AGF Management Limited ("AGF"), a Canadian reporting issuer, is an independent firm composed of wholly owned globally diverse asset management firms. AGF's investment management subsidiaries include AGF Investments Inc. ("AGFI"), AGF Investments America Inc. ("AGFA"), Highstreet Asset Management Inc. ("Highstreet"), AGF Investments LLC (formerly FFCM LLC) ("AGFUS"), AGF International Advisors Company Limited ("AGFIA"), Doherty & Associates Ltd. ("Doherty") and Cypress Capital Management Ltd. ("CCM"). AGFI, Highstreet, Doherty and Cypress are registered as portfolio managers across various Canadian securities commissions, in addition to other Canadian registrations. AGFA and AGFUS are U.S. registered investment advisers. AGFIA is regulated by the Central Bank of Ireland and registered with the Australian Securities & Investments Commission. AGF investment management subsidiaries manage a variety of mandates composed of equity, fixed income and balanced assets.
® The "AGF" logo and "Sound Choices" are registered trademarks of AGF Management Limited and used under licence.


Founded in 1957, AGF Management Limited (AGF) is an independent and globally diverse asset management firm. AGF brings a disciplined approach to delivering excellence in investment management through its fundamental, quantitative, alternative and high-net-worth businesses focused on providing an exceptional client experience. AGF's suite of investment solutions extends globally to a wide range of clients, from financial advisors and individual investors to institutional investors including pension plans, corporate plans, sovereign wealth funds and endowments and foundations.

For further information, please visit AGF.com.

© 2021 AGF Management Limited. All rights reserved.


AGF Management Limited published this content on 26 September 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 26 September 2021 21:21:07 UTC.

© Publicnow 2021
10/18AGF MANAGEMENT : Infrastructure Bills Hit the Wall
10/15AGF MANAGEMENT : Announces Proposed Termination of iQ Global Balanced ETF Portfolio and iQ..
10/15AGF MANAGEMENT : Kyrsten Sinema Could Kill Infrastructure Spending, Tax Hikes
10/14AGF MANAGEMENT : The Ifs, Ands and Buts About Markets
10/14AGF MANAGEMENT : Still Another Economic Concern — Labor Strikes
10/13AGF MANAGEMENT : Appoints Ian Clarke to Board of Directors
10/13AGF Management Limited Appoints Ian Clarke as Board of Director, Effective January 3, 2..
10/13AGF MANAGEMENT : Labor Market Lament — I Quit; Key Democrat Announces Retirement
10/12AGF MANAGEMENT : The Next Big Crisis — Energy; Tax Hikes on the Chopping Block
10/08AGF MANAGEMENT : This Morning's Weird Jobs Report
More news
Analyst Recommendations on AGF MANAGEMENT LIMITED
More recommendations
Sales 2021 457 M 370 M 370 M
Net income 2021 38,1 M 30,8 M 30,8 M
Net cash 2021 55,0 M 44,5 M 44,5 M
P/E ratio 2021 14,5x
Yield 2021 4,40%
Capitalization 533 M 430 M 431 M
EV / Sales 2021 1,04x
EV / Sales 2022 0,96x
Nbr of Employees 618
Free-Float 99,0%
Duration : Period :
AGF Management Limited Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AGF MANAGEMENT LIMITED
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus HOLD
Number of Analysts 8
Last Close Price 7,62 CAD
Average target price 8,97 CAD
Spread / Average Target 17,7%
EPS Revisions
Managers and Directors
Kevin Andrew McCreadie Director, Chief Executive & Investment Officer
Judith Gail Goldring President, Director & Head-Global Distribution
Adrian Basaraba Chief Financial Officer & Senior Vice President
Blake Charles Goldring Executive Chairman
Chris Jackson Chief Operating Officer
Sector and Competitors