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CAF Community Savings Plans (Extended Defence Team)

CAF Community Savings Plans: Group RESP (Extended Defence Team)

Help your kids get an education without breaking the bank. With tuition costs on the rise, a Registered Education Savings Plan (RESP) could be a smart way for you to invest money for a child’s post-secondary education and receive government grants and bonds.

**ATTN: CAF Members, Veterans and their spouses**

*Attn: Staff of the Non-Public Funds, Canadian Forces employees: 

  • Please visit CORE for more information on the CFMWS Group Savings Plans available for employees. Note that an RESP is not available at this time. 
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Webinar

Are you looking for a smart and effective way to save for your children's post-secondary education? Join us for the Canada Life RESP Webinar on November 15th (11:00 AM EST) for the English session, or November 16th (noon EST) for the French session.
Recording now available

Save for post-secondary education costs.

Many Canadians think opening a Registered Education Savings Plan (RESP) is more complicated than coordinating after-school activities. But with Canada Life, online enrolments lets you open an RESP in minutes!

Qualifying members who are a parent, grandparent, godparent, uncle/aunt can open an RESP; access federal government grants that kick in $1 for every $5 put in (contributing up to $500 a year and $7,200 total per student), with some provinces offering their own grants and you can open an individual or family RESP to meet your specific needs.

Key Benefits

Joining a group RESP offers you many advantages, such as: 

  • Automatic grant enrolment 
  • Professionally managed target date education funds
  • Easy and convenient contributions from your bank account 
  • Lower investment management fees 
  • Customized member statements with personalized rate of return
  • Transfer in existing RESPs from other financial institutions
  • No fee withdrawals for study years 
  • One-on-one telephone calls or video chats with a licensed Canada Life Freedom Experience Consultant to help you from opening your account to answering questions about your account
  • When the time comes, it's easy to withdraw the money for students.

How to Enroll

Step 1: 

Ensure you are eligible.

Step 2: 

Not a CF One Member? Become a CF One Member.

If you are a CF One Member, you can unlock the offer and follow the steps to register online.

*Important notice for Quebec Residents*

Need Help? 

You can book an appointment for a 30 minute one on one telephone call or video chat with a licensed Canada Life Freedom Experience Consultant to answer any questions you have with the program or help you enroll. 

  • Plan name: Canadian Forces

  • Plan number: 62498 

  • If you prefer to have a video chat instead of a phone call, please indicate that you want a video chat with the contact info in the ‘What can we help you with?’ section when booking an appointment

Alternatively, bilingual Canada Life client service representative is available to assist on Access Line from 8 a.m. to 8 p.m. ET weekdays at 1-800-724-3402.

  • Plan name: Canadian Forces
  • Plan number: 62498

Investment management fee, expense and schedule of fees

No fees for annual service, setup, withdrawals and transfers between funds. Please see the fee schedule for more information.

My Canada Life at Work app

Review your savings even when you’re on-the-go with the My Canada Life at Work™ app.

With the app you can easily keep your savings top of mind and track your retirement income goal. We’ll add more features over time, but you can sign in now to view your savings plan balance, contributions and growth.

Keep your info safe with fingerprint or face ID and other enhanced security features. You can review and manage your plans – anywhere you want.

Have questions about the app? Call us at 1-888-222-0775, Monday to Friday from 8 a.m. to 8 p.m. ET.

Get the app now

Download the My Canada Life at Work app from your app store.

Frequently Asked Questions

Additional Resources

Videos:

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Register Now

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