INTENT

Alberta Employment and Immigration encourages parents through the Alberta Centennial Education Savings (ACES) program to establish and make contributions to a Registered Educations Savings Plan (RESP) to provide for their child(ren)’s post-secondary education.

This benefit covers the costs (e.g., birth certificate, minimal account deposit) associated with establishing an RESP and/or making a minimum contribution when a child reached 8, 11, or 14 years of age.

POLICY

A benefit is available to a learner household for the purpose of establishing a RESP and/or making a minimum contribution to the RESP under the ACES program for each dependent of the learner who:

• is under 6 years of age, and was born on or after January 1, 2005, or
• is 8, 11, or 14 years of age on or after January 1, 2005

Rate

• For an eligible child under 6 years of age, $100.00 to establish a RESP
• For an eligible child 8, 11, or 14 years of age, $200 to establish a RESP and make a minimum contribution
• For an eligible child who is 8, 11, or 14 years of age with an established RESP, $100 to make a minimum contribution

PROCEDURE

For learners currently being funded, the benefits for 8, 11, or 14 year olds can be issued retroactively to January 1, 2005 if they would have met the criteria during this time and the benefit has not been previously issued. (e.g. learner file is opened in February 2007 but a dependent was 8 years old in March 2005).

Learners do not have to request this benefit when adding a newborn through a Change in Circumstances form for Learners as the benefit will be issued automatically. However, learners may request this benefit for eligible children by submitting a Change in Circumstances form for Learners stating the intent to start the ACES plan and/or make a minimum contribution to their child(ren)s RESP.

APPROVAL

Learner Benefit Coordinator, Learner Income Support Office (LISO)