***Respondents are asked to provide their response in a Word format. We will accept responses in PDF format, but a Word version must also be included for processing purposes.***
The Canada Education Savings Program (CESP), at Employment and Social Development Canada (ESDC), helps make post-secondary education (PSE) more affordable by encouraging early planning and saving.
The Government of Canada encourages Canadians to open a Registered Education Savings Plan (RESP) at a financial organization to save for a child's PSE. In addition, the Government offers education savings benefits through RESPs, specifically the Canada Learning Bond (CLB) and the Canada Education Savings Grant (CESG). Savings grow tax-free until the person named in the RESP (i.e., the beneficiary) enrolls in PSE.
The Government of Canada is now developing an automatic enrolment service to provide CLB eligible children born in 2024 and after with an RESP and to have their CLB deposited if they are not receiving it. To implement this service, ESDC may engage a provider to facilitate the opening of RESPs, and payment of CLB, for eligible children who do not have an RESP opened for them by the time they turn four. ESDC would be the RESP subscriber and name these children as beneficiaries to the RESPs. The caregiver or the beneficiary will not be subject to any contract or obligation.
The Government of Canada conducted an initial Request for Information (RFI) from August 9-October 9, 2024. A summary of information received from the seventeen organizations that responded is included in Part 4 below. This subsequent RFI is intended to offer clarification about the proposed automatic enrolment model and solicit additional information from stakeholders.
The responses received from this RFI may be used to assist ESDC in finalizing the requirements and in developing achievable objectives and deliverables to deliver the CLB automatic enrolment service.
