2005:01 - The Canada Learning Bond and Registered Education Savings Plans (RESPs)
Whereas Statements
- Whereas #1 The Canada Learning Bond provides $500 initially and $100 annually toward a Registered Education Savings Plan (RESP) for families earning under $35,000 and eligible for the National Child Benefit Supplement.
- Whereas #2 Many of these low-income families are also recipients of social assistance.
- Whereas #3 Welfare rules in Ontario, Quebec, and British Columbia classify RESP contributions as income assets, which could be clawed back (as happened with the National Child Benefit Supplement).
- Whereas #4 This would exclude children in families receiving social assistance from the Canada Learning Bond benefits.
Resolved Statements
Resolved #1 The National Council of Women of Canada (NCWC) adopts as policy that Registered Education Savings Plan (RESP) contributions, including the Canada Learning Bond, should not be considered as an asset when families apply for assistance.
Resolved #2 The NCWC urges the Government of Canada to request Provinces and Territories to exempt RESP contributions, including the Canada Learning Bond, from asset inclusion when families apply for social assistance.
Resolved #3 The NCWC urges Provincial Councils of Women to request their governments to ensure RESP contributions, including the Canada Learning Bond, are not considered an asset for income assistance eligibility.