RESP

Alberta Centennial Education Savings (ACES)

 

Definition:
The ACES is a grant program administered by Human Resources and Skills Development Canada (HRSDC) on behalf of the Alberta provincial government and specifically offered to Alberta residents.

Eligibility Requirements:
To be eligible for the ACES, the following conditions need to be met:

  • Subscribers are Alberta residents
  • Beneficiary has a social insurance number (SIN)
  • Child is a beneficiary on a Registered Education Savings Plan (RESP)
  • For the $500 grant: Beneficiary must be born January 1, 2005 or later
  • For the $100 grant: Beneficiary must be enrolled in an Alberta school at ages 8, 11 and 14, in 2005 or later.

Grant:

Initial Grant
Any children born or adopted by Alberta residents on or after January 1, 2005 will be eligible for an initial $500 grant. Subscribers have until the beneficiary’s 6th birthday to apply for this grant.

Subsequent Grant
Alberta residents with children attending an Alberta school at ages 8, 11 and 14 in 2005 or later will eligible for a $100 subsequent matching grant for each of those three ages:

  • $100 at age 8
  • $100 at age 11
  • $100 at age 14

Please note the following:

  1. Subscribers need to apply on or within 6 years of the applicable birthday.
  2. A contribution of $100 for the applying beneficiary must be made within the year prior to applying for the subsequent matching grant.

Limits:
Potential Lifetime: $800 per beneficiary (for those born January 1, 2005 or later).

How to apply:

  • Opening a RESP plan with a recognized RESP promoter such as Mackenzie
  • A completed ACES grant application to apply for the initial or any of the subsequent grants (Note: Within a Family RESP, all beneficiaries must be siblings to apply for this grant)