Canada Education Savings Program: 2022 Annual Statistical Review

From: Employment and Social Development Canada

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List of acronyms

ASR
Annual Statistical Review
CESG
Canada Education Savings Grant
CESP
Canada Education Savings Program
CLB
Canada Learning Bond
EAP
Employment assistance payment
ESDC
Employment and Social Development Canada
ELMLP
Education and Labour Market Longitudinal Platform
ESW
Education Savings Week
pp
Percentage points
PSE
Postsecondary education
PSIS
Postsecondary Student Information System
RAIS
Registered Apprenticeship Information System
RESP
Registered Education Savings Plans
SIN
Social Insurance Number

List of figures

List of tables

About this report

The 2022 Annual Statistical Review (ASR) of the Canada Education Savings Program (CESP) provides statistics on Registered Education Savings Plans (RESP) for the period between January 1 and December 31, 2022. The ASR also provides statistics on the Canada Education Savings Grant (CESG) and the Canada Learning Bond (CLB). The CESG and the CLB are 2 education savings benefits paid into RESPs provided by the Government of Canada. The report also provides historical data.

Introduction

The Government of Canada encourages using RESPs to save for a child’s postsecondary education (PSE), including full- or part-time studies at a trade school, college, university, or in an apprenticeship program. Employment and Social Development Canada (ESDC) administers the CESG and the CLB to help Canadians build early savings and aspirations toward their child’s PSE after high school.

Definition of concepts used in this report

Cumulative number of beneficiaries: Count of beneficiaries who received a CESG or CLB payment at least once since the inception of the program.

Example: Sarah received the CESG in 2015 and 2022. Therefore, she will be counted once in the cumulative number of CESG beneficiaries as of 2022.

Total number of beneficiaries during the year: All individuals who received a CESG or CLB payment in a given year (for example, in 2022).

Example: In Sarah’s case, she will be included in the total number of CESG beneficiaries in 2015 and in 2022.

Total number of new beneficiaries during the year: Count of beneficiaries who received a CESG or CLB payment for the first time in a particular year.

Example: Lu received the CESG in 2022 for the first time. He will therefore be counted in the total number of new CESG beneficiaries in 2022.

Note: The above definitions suggest that Lu will also be included in a) the total number of CESG beneficiaries in 2022, and b) the cumulative number of CESG beneficiaries as of 2022.

Contributions and withdrawals are presented in constant dollars (consult Annex A for more details). Payments are in current dollars.

The data in this document come from the CESP reporting database, which does not include information on family income. For this reason, the receipt of different education savings benefits are used to proxy different income groups. More specifically, the receipt of the CLB and/or the 20% additional amount of CESG (Additional CESG) is used as a proxy for RESP beneficiaries belonging to a low-income family. The receipt of the 10% Additional CESG, but no CLB, is used as a proxy for belonging to a middle-income family. Finally, the receipt of the Basic CESG with neither the Additional CESG, nor the CLB, is used as a proxy for beneficiaries belonging to a high-income family.

This report focuses on a few key outcomes of general interest. Key statistics from previous editions are available in Annex B.

The Canada Education Savings Program at a glance

National summary

Table 1: National summary of statisticsFootnote 1,Footnote 2,Footnote 3

For accessibility reasons, the table has been simplified. Consult the PDF version for the full table.

Table 1a: National summary of statistics - Registered Education Savings Plans
Description 2020 2021 2022
Total RESP assets as of the end of the year (billions) $69.9 $78.0 $73.0
Contributions made during the year (billions in 2022 constant dollars) $5.8 $6.2 $5.7
Table 1b: National summary of statistics - Canada Education Savings Grant
Description 2020 2021 2022
Total gross CESG payments made during the year (millions) $1,043 $1,129 $1,096
Cumulative gross CESG payments since 1998 (billions) $14.6 $15.7 $16.8
Total number of beneficiaries receiving the CESG during the year (millions) 3.0 3.1 3.1
Total number of new beneficiaries in receipt of the CESG during the year 257,901 293,009 259,530
Cumulative number of beneficiaries 0 to 17 years old who have ever been in receipt of the CESG (millions) 3.9 4.0 4.0
Cumulative number of beneficiaries of all ages who have ever been in receipt of the CESG (millions) 6.9 7.2 7.4
CESG take-up rateFootnote 4 54.1% 55.2% 54.8%
Average annual contribution per beneficiary (in 2022 constant dollars) $1,833 $1,887 $1,737
Table 1c: National summary of statistics - Canada Learning Bond
Description 2020 2021 2022
Net CLB payments made during the year (millions) $155.5 $142.2 $151.0
Cumulative net CLB payments since 2004 (billions) $1.6 $1.7 $1.9
Total number of beneficiaries receiving the CLB during the year 738,394 662,038 658,797
Total number of new beneficiaries in receipt of CLB during the year 137,642 121,585 140,355
Cumulative number of beneficiaries who have ever been in receipt of the CLB (millions) 1.6 1.7 1.9
Cumulative number of CLB-eligible children (millions) 3.9 4.1 4.4
CLB take-up rateFootnote 5,Footnote 6 41.0% 41.6% 42.5%
Average annual contribution per beneficiary (in 2022 constant dollars) $1,364 $1,415 $1,297
Table 1d: National summary of statistics - Access to postsecondary education
Description 2019 2020 2021
Annual RESP withdrawals (billions in 2022 constant dollars) $4.4 $5.2 $5.1
Annual number of beneficiaries withdrawing funds from RESPs 422,897 484,060 493,299
Percentage of beneficiaries from low- and middle-income families with RESP withdrawalsFootnote 7 29.5% 32.7% 37.0%
Average annual RESP withdrawal per beneficiary (in 2022 constant dollars) $10,377 $10,825 $10,359

Part Ⅰ: Program background information

This section describes education savings benefits available through RESPs and the role of financial institutions in providing them.

Registered Education Savings Plans

To receive the education savings benefits, an RESP must be opened with a promoter, such as a bank, financial planner, scholarship plan dealer, or an insurance company.

Anyone can open an RESP. Typically, a parent, grandparent, or another family member opens an RESP and names a child as the plan’s beneficiary. The person who opens the RESP is referred to as the subscriber. The subscriber does not need to be related to the beneficiary.

There are 3 types of RESPs:

  • individual non-family plans: only 1 beneficiary is named to the RESP
  • individual family plans: multiple beneficiaries may be named to the RESP, but they must all be directly related (including through adoption) to the subscriber
  • group plans: savings for many (non-family) beneficiaries of the same age group are pooled together and collectively invested by a scholarship plan dealer

Funds in an RESP can be held in a variety of forms (for example: savings deposits, guaranteed investment certificates, mutual funds, and other types of investments available under the Income Tax Act); they grow tax-free until withdrawn by the subscriber. Depending on the RESP promoter and their offerings, numerous account features are available, including low- or no-fee options.Footnote 8

Canada Education Savings Grant

The CESG consists of a basic grant (Basic CESG) available to families of all income levels and an additional CESG amount (Additional CESG) for beneficiaries from low- and middle-income families.

Basic Canada Education Savings Grant

The Basic CESG is a 20% payment into an RESP on the first $2,500 of contributions made into the RESP each year, or up to $5,000 in contributions if sufficient carry-forward room exists. Beneficiaries are eligible until the end of the calendar year they turn 17 years old.

Grant room and carry forward

Grant room, or unused amounts of the Basic CESG, accumulates for each child until December 31 of the year they turn 17 years old. An amount of $500 is added annually to the grant room for each eligible child.

Unused Basic CESG amounts for the current year are carried forward for possible use in future years, provided the beneficiary remains eligible.

Additional Canada Education Savings Grant amounts

Beneficiaries from low- or middle-income families may also qualify for the Additional CESG. This is a payment of 10% or 20% on the first $500 of contributions made in an RESP each year on or after January 1, 2005, up to the end of the calendar year the beneficiary turns 17 years old.

Note: Grant room and carry forward do not apply to the Additional CESG.

Note: The Government of Canada pays a maximum lifetime amount of $7,200 in the Basic and Additional CESG to each beneficiary.

For 2022, the following adjusted family income thresholds determined eligibility for the Additional CESG:

Table 2: Additional CESG eligibility thresholds
Additional CESG Adjusted family income
20% Up to $50,197
10% Greater than $50,197 but no more than $100,392

Canada Learning Bond

The CLB is available to individuals born on or after January 1, 2004, from families whose income is below a certain threshold (Table 3) or for whom benefits are payable under the Children’s Special Allowance Act. The bond provides an initial sum of $500 in an RESP and $100 for each subsequent benefit year of eligibility, up to the benefit year in which the beneficiary turns 15 years old, to a maximum of $2,000. Contributions to an RESP are not required to receive the CLB. The CLB can also be claimed for previous years during which the child was eligible, even if they did not have an open RESP.

Eligibility for the CLB is based, in part, on the number of qualifying children and the adjusted income of the primary caregiver, including that of a cohabiting spouse or common-law partner, as outlined in the Canada Education Savings Act. Accordingly, a child receiving the CLB in a given year might not be eligible in subsequent years. For example, children who received it in 2021 would not qualify in 2022 if their adjusted family income was higher than $50,197 that year.

From July 1, 2022, to June 30, 2023, the CLB eligibility was based, in part, on the following adjusted family income thresholds:

Table 3: CLB eligibility thresholdsFootnote 9
Number of qualified children Adjusted family income
1 to 3 Up to $50,197
4 Less than $56,636
5 Less than $63,101
6 Less than $69,567

Registered Education Savings Plan promoters

The role of RESP promoters, the organizations offering RESPs and education savings benefits, is essential. They assist with the application process and help the subscriber understand the various investment options. In 2022, there were 84 promoters, falling into 4 categories:

  • banking services: deposit-taking institutions that provide private and commercial services
  • insurance and other: institutions that offer insurance (property, casualty, life, and health) and other various registered plan promoter types
  • investment services: institutions that provide services in investment banking, brokerage services, wealth management, fund operations, and private equity, security and commodity exchanges
  • scholarship plan dealers: institutions that offer registered plans by age cohort in addition to family and individual plans

As in previous years, investment services held the largest share of RESP assets (46.2%) and received the bulk of CESG payments (41.0%) in 2022. On the other hand, banking services received the highest proportion of CLB payments (53.0%).

Figure 1: RESP assets by promoter type
Description text of figure 1 follows.
Figure 1 – Text version
Promoter type RESP assets
Banking services 28.9%
Insurance and other 5.6%
Investment services 46.2%
Scholarship plan dealers 19.3%
Figure 2: CESG payments by promoter type
Description text of figure 2 follows.
Figure 2 – Text version
Promoter type CESG payments
Banking services 33.9%
Insurance and other 8.1%
Investment services 41.0%
Scholarship plan dealers 17.0%
Figure 3: CLB payments by promoter type
Description text of figure 3 follows.
Figure 3 – Text version
Promoter type CLB payments
Banking services 53.0%
Insurance and other 10.9%
Investment services 18.3%
Scholarship plan dealers 17.7%

Investing in tomorrow

For youth to make the most of future opportunities, they need to be equipped with the knowledge, skills and experience that come from PSE. By offering education savings benefits to Canadians, the Government of Canada is investing in a skilled and innovative workforce for tomorrow.

According to Statistics Canada’s Labour Force Survey, employment rates were consistently higher among individuals with some PSE. In addition, according to 2022 ESDC projections, two thirds of new Canadian job openings between 2022 and 2031 will require some PSE.Footnote 10

Key government initiatives

The Government of Canada encourages Canadians to plan and save early for the PSE of a child using RESPs. In 2022, 56.4% of eligible children (0 to 17 years old) in Canada received federal education savings benefits in an RESP to help finance their future education after high school.

Research shows that children are more likely to access higher learning opportunities when money is set aside for PSE.Footnote 11 Helping more low- and middle-income families save for their children’s PSE reduces barriers to higher education. To this end, the Government of Canada has advanced several initiatives promoting early planning and savings for PSE using RESPs and raising awareness of education savings benefits. A key priority for the program is to enable easier access to the CLB to support education saving and planning for children from families with low income. This includes a particular focus on supporting children from Indigenous communities, as well as underserved and harder-to-reach groups such as:

  • newcomers to Canada
  • those living in rural and remote communities
  • marginalized youth transitioning to PSE

Investments in community-based organizations

Since 2019, the Government of Canada invested up to $12 million in the CLB Pilot Project. This project is meant to improve support and program access for families with low income, with added focus on:

  • children of single parents
  • children in care
  • children and families living in rural or remote regions
  • Indigenous children
  • youth transitioning to PSE

Phase I of the project provided funding to 12 community-based projects across Canada, from 2019 until 2021. These projects tested innovative approaches to building awareness of the CLB among marginalized Canadians. A particular emphasis was placed on ways to reach them where they live and in ways that support their needs.

Phase II of the project builds on the success of Phase I. Under the second phase, projects are funded from 2022 until early 2024. Overall, 13 organizations are testing ways to help children access RESPs and the CLB via:

  • one-on-one assistance for individuals and families
  • virtual support
  • the integration of information into existing program and service offerings

Increasing Canada Learning Bond take-up among eligible children who have not yet received it

The Government of Canada sends individualized letters of eligibility to the primary caregivers of children and youth who are eligible for but have not yet received the bond. These letters inform them of the child’s eligibility, the amount they can receive in an RESP, and the steps to take to request the CLB.

Under current legislation, CLB-eligible youth who have yet to receive the CLB can now apply for the benefit themselves as soon as they turn 18 years old beginning in January 2022. This includes taking steps to open an RESP if one has never been opened for them. These eligible beneficiaries have until the day before they turn 21 years old to request the CLB. In so doing, they could receive up to $2,000.

In 2022, the Government of Canada sent approximately 502,000 letters to Canadians, including approximately 140,000 to the primary caregivers of CLB-eligible youth about to turn 18 years old.

Engagement with external stakeholders

To explore novel ways of promoting education savings and enabling access to education savings benefits among underserved and harder-to-reach populations, the Government of Canada continues to engage with various partners and stakeholders, as well as its network of CLB Champions, including:

  • non-governmental community-based organizations
  • front-line service providers
  • postsecondary institutions
  • RESP promoters
  • national philanthropic and charitable organizations
  • Indigenous organizations
  • federal, provincial and municipal governments

As well, the CESP has produced a toolkit for public primary caregivers to help support access to education savings benefits, particularly the CLB, for children in care. It has also engaged with a number of provincial and territorial child welfare organizations over the course of 2022. Most of these organizations are public primary caregivers receiving children’s special allowance payments and can therefore open an RESP and request the CLB for children in their care. In 2022, this resulted in approximately 1,700 children in care accessing the CLB for the first time.

Education Savings Week 2022

Supported by ESDC, Education Savings Week (ESW) is a community-led outreach initiative to increase awareness of the benefits and availability of the Government of Canada’s education savings benefits.

Held annually the third week of November, the ESW coincides with Financial Literacy Month (November). In 2022, ESDC hosted a series of virtual sessions focused on mobilizing education savings. Among the themes discussed were:

  • education savings as an empowerment tool
  • a community showcase panel discussion
  • intentional engagement in a virtual world

Part Ⅱ: Analysis of key results

Total Registered Education Savings Plan assets

As of December 31, 2022, families had set aside $73.0 billion in RESP assets for their children’s PSE, a 6.5% decrease since 2021 (Table 4). This can be attributed in part to:

  • a drop in market returns
  • to a lesser extent, a decrease in contributions, net CESG and CLB payments, and an increase in RESP withdrawals
Table 4: Total RESP assets, by year
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
RESP assets (billions) $40.5 $44.4 $47.0 $51.3 $55.9 $56.1 $63.7 $69.9 $78.0 $73.0

Contributions to Registered Education Savings Plans

Between 2021 and 2022, average annual contributions to CESG beneficiaries’ RESPs decreased by 8.0% in constant dollars (Figure 4). Similarly, the average contributions to the RESPs of CLB beneficiaries went down by 8.3% over the same period (Figure 5). This can be explained by 2 main factors.

  1. Lower contributions (in current dollars)

    In 2022, average annual contributions to the RESPs of CESG beneficiaries decreased by 1.8% relative to 2021. This can be attributed, in part, to inflation which accelerated to its fastest pace in 4 decades, peaking at 8.1% in June 2022.Footnote 12 As a result, many Canadians found it hard to meet day-to-day expenses such as transportation, housing, food and clothing.Footnote 13 At the same time, increases in the Bank of Canada’s benchmark interest rate resulted in higher debt payments for many families, lowering their disposable income. Combined, these factors led to households having less money, or in some cases, no money, to put aside in their child’s RESP

  2. Inflation

    High inflation in 2022 also reduced the real “purchasing power”Footnote 14 of contributions made to RESPs over and above the slight decrease in the current dollar value observed

Figure 4: Average annual contributions for beneficiaries in receipt of the CESG (in 2022 constant dollars)
Description text of figure 4 follows.
Figure 4 – Text version
Year Average annual contributions (in 2022 constant dollars)
2013 $1,843
2014 $1,827
2015 $1,822
2016 $1,810
2017 $1,823
2018 $1,800
2019 $1,786
2020 $1,833
2021 $1,887
2022 $1,737
Figure 5: Average annual contributions for beneficiaries in receipt of the CLB (in 2022 constant dollars)
Description text of figure 5 follows.
Figure 5 – Text version
Year Average annual contributions (in 2022 constant dollars)
2013 $1,268
2014 $1,268
2015 $1,271
2016 $1,267
2017 $1,301
2018 $1,304
2019 $1,319
2020 $1,364
2021 $1,415
2022 $1,297

Canada Education Savings Grant payments and beneficiaries

In 2022, CESG payments decreased by 2.9% compared to 2021. CESG payments are proportionate to the contributions made in RESPs. Therefore, part of the decrease in CESG payments is owed to the decline in savings made by families into RESPs. At the same time, the number of CESG beneficiaries decreased over the period (Table 6). In particular:

  • the number of new CESG beneficiaries dropped by 11.4% (Table 5)
  • the number of CESG beneficiaries from low-income families receiving contributions in their RESPs in 2022 was at its lowest level since 2016 (Table 6)
Table 5: Number of new beneficiaries in receipt of the CESG
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Number of new beneficiaries in receipt of the CESG 288,273 284,105 307,498 305,819 301,103 293,956 290,410 257,901 293,009 259,530
Table 6: Number of beneficiaries in receipt of the 20% Additional CESG
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Number of CESG beneficiaries (thousands) 2,540 2,616 2,711 2,791 2,869 2,935 2,993 3,021 3,110 3,074
Number of beneficiaries in receipt of the 20% Additional CESG (thousands) 431 443 466 488 509 552 568 554 544 487

Canada Education Savings Grant take-up rate

Between 2021 and 2022, the CESG take-up rate decreased by 0.4 percentage points (pp) at the national level (Table 7). The only provinces and territories that saw increases were Quebec (0.8 pp), Manitoba (0.2 pp), Saskatchewan (0.1 pp), Yukon (0.3 pp) and the Northwest Territories (0.6 pp).

New Brunswick (1.2 pp) experienced the sharpest drop, followed closely by British Columbia (1.1 pp). Despite this, British Columbia (58.4%) had the second highest take-up rate in Canada, behind Quebec (59.9%). These 2 provinces likely have the highest take-up rates because they offer education savings benefits beyond the CESP, making RESPs more attractive for parents. Nunavut (5.4%) had the lowest take-up rate.

Table 7: Evolution of the CESG take-up rate between 2013 and 2022: Nationally and by province and territory
Province or territory 2013 2021 2022 Change from 2013 to 2022 (in percentage points) Change from 2021 to 2022 (in percentage points)
Newfoundland and Labrador 43.0% 45.1% 44.4% 1.4 -0.7
Prince Edward Island 39.5% 42.8% 41.9% 2.3 -0.9
Nova Scotia 40.5% 45.1% 44.4% 3.8 -0.7
New Brunswick 42.6% 44.3% 43.1% 0.5 -1.2
Quebec 43.1% 59.1% 59.9% 16.8 0.8
Ontario 51.6% 56.8% 56.0% 4.4 -0.8
Manitoba 33.7% 40.0% 40.1% 6.4 0.2
Saskatchewan 35.9% 42.8% 42.8% 6.9 0.1
Alberta 47.3% 54.3% 53.5% 6.2 -0.8
British Columbia 51.8% 59.5% 58.4% 6.6 -1.1
Yukon 39.6% 43.2% 43.5% 3.9 0.3
Northwest Territories 24.4% 29.7% 30.3% 5.8 0.6
Nunavut 4.2% 5.5% 5.4% 1.2 0.0
Canada 47.1% 55.2% 54.8% 7.6 -0.4

The decline in the CESG take-up rate in 2022 relative to 2021 can be mainly explained by:

  • a slower growth in the number of CESG beneficiaries relative to previous years (Figure 6)
  • a higher growth in the population of 0 to 17 years old in Canada
Figure 6: Growth in the population 0 to 17 years old in Canada
Description text of figure 6 follows.
Figure 6 – Text version
Year Annual % change in the population of CESG beneficiaries 0 to 17 years old Annual % change in the Canadian population 0 to 17 years old
2014 3.1% 0.3%
2015 3.5% 0.6%
2016 3.1% 1.0%
2017 2.8% 0.6%
2018 2.5% 0.7%
2019 2.1% 0.6%
2020 1.1% 0.5%
2021 1.8% -0.2%
2022 0.4% 1.1%

Over the past decade, CESG take-up increased in all provinces and territories. It rose by 7.6 pp at the national level, from 47.1% to 54.8% (Table 7). Growth was highest in Quebec (at 16.8 pp).

Canada Learning Bond take-up rate

Between 2021 and 2022, in all provinces and territories, CLB take-up rates either increased or remained stable (Table 8). Quebec and New Brunswick experienced the greatest increases (1.3 pp). As of December 31, 2022, the take-up rate was highest in British Columbia (50.5%), followed closely by Quebec (49.4%). Nunavut (2.6%) had the lowest rate.

Over the past 10 years, rates grew by 13.3 pp at the national level, going from 29.1% to 42.5%. All provinces and territories saw an increase, the steepest being in Quebec (17.3 pp), closely followed by British Columbia (17.1 pp).

Table 8: Evolution of the CLB take-up rate between 2013 and 2022: Nationally and by province and territory
Province or territory 2013 2021 2022 Change in percentage points from 2013 to 2022 (in percentage points) Change in percentage points from 2021 to 2022 (in percentage points)
Newfoundland and Labrador 19.5% 27.7% 28.3% 8.8 0.6
Prince Edward Island 21.1% 32.1% 32.9% 11.9 0.8
Nova Scotia 20.4% 32.5% 33.4% 13.1 0.9
New Brunswick 21.4% 31.9% 33.3% 11.8 1.4
Quebec 32.2% 48.1% 49.4% 17.3 1.3
Ontario 30.6% 41.0% 41.8% 11.2 0.8
Manitoba 20.1% 31.2% 31.9% 11.9 0.8
Saskatchewan 18.9% 27.9% 28.6% 9.7 0.7
Alberta 27.7% 39.9% 40.7% 13.0 0.7
British Columbia 33.4% 49.8% 50.5% 17.1 0.7
Yukon 21.3% 31.4% 31.7% 10.3 0.3
Northwest Territories 8.4% 16.1% 16.2% 7.8 0.0
Nunavut 1.5% 2.5% 2.6% 1.1 0.1
Canada 29.1% 41.6% 42.5% 13.3 0.9

Important: In 2022, the CESP made changes to the CLB take-up rate methodology. Refer to the section The data in this report for a more detailed explanation.

Canada Learning Bond payments and number of beneficiaries by year

  • 140,355 new beneficiaries received the initial $500
  • 518,442 existing beneficiaries received at least 1 subsequent annual amount of $100

Between 2021 and 2022, CLB payments increased by 6.1%, from $142.2 million to $151.0 million, gradually returning to pre-pandemic levels (Table 9).

Table 9: Annual net CLB payments
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Net CLB payments (millions) $102.5 $105.2 $116.7 $135.8 $160.3 $185.2 $198.8 $155.5 $142.2 $151.0

The increase in the number of new CLB beneficiaries (15.4%) contributed to the rise in annual CLB payments. However, the number of new CLB beneficiaries has not yet returned to pre-pandemic levels (Table 10).

Table 10: Number of new beneficiaries in receipt of the CLB
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
New CLB beneficiaries 105,529 106,205 114,268 132,442 149,274 158,648 193,511 137,642 121,585 140,355

While the number of new CLB beneficiaries increased in 2022, the number of existing beneficiaries decreased (Table 11).

Table 11: Number of existing beneficiaries in receipt of the CLB
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Existing CLB beneficiaries 292,515 335,435 377,027 427,225 494,092 564,119 584,437 600,752 540,453 518,442

This can be explained by the fact that children who received CLB payments in 2021 may not have been eligible to receive the bond in 2022. This type of situation can happen if:

  • their adjusted family income was above the eligibility threshold in 2022 but below it in previous years
  • their primary caregiver did not file taxes in 2021
  • they turned 16 in 2022

Canada Learning Bond adult beneficiaries

The increase in CLB payments can also be in part attributed to adult CLB beneficiaries born in 2004 receiving a lump-sum CLB payment in 2022.Footnote 15 As of January 1, 2022, CLB-eligible children born in 2004 started turning 18 years old and were able to apply for the CLB themselves. Of the 270,418 children born in 2004 who have ever been eligible for the CLB, 128,063 (47.4%) received the benefit. Among them, 5,821 received the bond in 2022 as adult beneficiaries (Table 12). In fact, adult beneficiaries account for close to a third of the increase in new CLB beneficiaries observed since 2021. Payments to adult beneficiaries totaled $7.1 million, for an average of $1,215 per beneficiary. Similarly, beneficiaries born in 2004 who got the CLB as a child received an average of $1,127.

The majority of adult beneficiaries lived in Ontario (2,525), Quebec (1,527) and British Columbia (601). Combined, they accounted for 80% of all adult beneficiaries in 2022.

At the end of 2022, 142,355 CLB-eligible youth born in 2004 had still not received the benefit, though they have until 2024 to request it.

Table 12: Number of CLB-eligible individuals and CLB beneficiaries born in 2004, as of December 31, 2022: Nationally and by province
Province* Number of CLB-eligible children born in 2004 Number of CLB beneficiaries born in 2004 (including adult CLB beneficiaries**) Number of CLB-eligible children born in 2004 who have not received the CLB CLB take-up rate for children born in 2004 Amount of CLB paid to adult beneficiaries in 2022
Newfoundland and Labrador 3,436 1,112 2,324 32.4% $125,848
Prince Edward Island 1,151 453 698 39.4% $36,225
Nova Scotia 6,531 2,451 4,080 37.5% $193,397
New Brunswick 5,356 2,115 3,241 39.5% $120,550
Quebec 56,582 29,147 27,435 51.5% $1,902,480
Ontario 102,876 50,311 52,565 48.9% $3,114,143
Manitoba 12,253 4,936 7,317 40.3% $186,612
Saskatchewan 10,415 3,799 6,616 36.5% $174,525
Alberta 34,537 15,407 19,130 44.6% $540,174
British Columbia 33,696 17,488 16,208 51.9% $672,721
Canada 270,418 128,063 142,355 47.4% $7,070,524
  • * Information from Yukon, the Northwest Territories and Nunavut is not made available as there are too few observations in these provinces.
  • ** Adult CLB beneficiaries are youth who have received the CLB between 18 and 20 years old, inclusively.

Registered Education Savings Plan withdrawals for postsecondary education

The amount of funds withdrawn from RESPs includes Educational Assistance Payments (EAPs) and PSE withdrawals.

Once enrolled in a qualifying PSE program, a beneficiary can request EAPs.Footnote 16 An EAP consists of CESG and CLB amounts, as well as amounts paid under a provincial education savings program and income earned through assets in the RESP. EAPs are taxable income for the beneficiary, who often has a modest income while studying, so the income tax paid on EAPs is generally low. The beneficiary can use these funds to cover their tuition fees and other PSE costs, such as textbooks and rent.

At the same time, the subscriber can make a PSE withdrawal. This is a withdrawal of contributions the subscriber makes without penalty when the beneficiary turns 18. This money can further assist with PSE-related expenses.

Between 2021 and 2022, annual RESP withdrawals in current dollars increased from $4.9 billion to $5.1 billion (Table 13). This can be explained by:

  • a 1.9% increase in the number of beneficiaries making RESP withdrawals as more beneficiaries registered for PSE in 2022 than in 2021
  • an increase in average annual RESP withdrawals per beneficiary as high inflation in 2022 resulted in higher costs of education and living
Table 13: RESP withdrawals over time
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
RESP withdrawals (billions) $2.8 $3.1 $3.3 $3.6 $3.8 $4.1 $4.4 $4.0 $4.9 $5.1
Number of beneficiaries making RESP withdrawals 361,206 382,557 397,555 422,565 434,028 446,498 466,291 422,897 484,060 493,299
Average RESP withdrawals $7,670 $8,045 $8,297 $8,512 $8,832 $9,169 $9,453 $9,402 $10,138 $10,359

However, once inflation is taken into account, annual RESP withdrawals decreased by 2.5% and average annual RESP withdrawals per beneficiary dropped by 4.3% (Figure 7). This reflects the fact that the increase in the price of goods and services between 2021 and 2022 outpaced the increase in RESP withdrawals.

Figure 7: Average RESP withdrawal per beneficiary (in 2022 constant dollars)
Description text of figure 7 follows.
Figure 7 – Text version
Year Average RESP withdrawals (in 2022 constant dollars)
2013 $9,444
2014 $9,716
2015 $9,909
2016 $10,024
2017 $10,241
2018 $10,393
2019 $10,510
2020 $10,377
2021 $10,825
2022 $10,359

Part Ⅲ: Government of Canada outreach activities

While the Government of Canada outreach and awareness-raising activities have supported the take-up of the CESG and CLB over the years, there continues to be challenges that exist for those not receiving them, particularly for those eligible for the CLB.

Key challenges

Other Government of Canada benefits are primarily accessed automatically after tax-filing or the registration of a birth. Accessing the CESG and the CLB, on the other hand, requires parents or guardiansFootnote 17 to take an additional step to open an RESP. In particular, to access the CLB, an RESP would need to be opened with a promoter that has also agreed to offer the CLB.

In May 2022, ESDC released an evaluation report focusing on the CLB. It identified the following key barriers to accessing the bondFootnote 18:

Lack of awareness and understanding of the CLB and RESPs

Parents or caregivers may not know about the CLB and/or lack an understanding of program specifics. In particular, they may not be aware that they are not required to make personal contributions to the RESP to receive the CLB. They may also have had negative experiences with financial institutions in the past. This may deter them from opening an RESP and accessing the CLB.

Complex application process

Both the primary caregiver and child beneficiary must have a social insurance number (SIN) to open an RESP. Parents must also file their income taxes and apply for the Canada Child Benefit to establish a child’s eligibility. This can be a time-consuming and sometimes costly process. Furthermore, choosing from a variety of complex savings and investment options, from among 84 different RESP promoters not all of whom offer the CLB, can be challenging for potential RESP subscribers. This is particularly true for those with low financial literacy or who lack fluency in Canada’s official languages.

Financial and time constraints

Primary caregivers or their spouse may struggle with the additional costs associated with attending appointments at financial institutions. These additional costs can be both financial and time-related, and include among others:

  • childcare
  • transportation
  • lost wages to visit government agencies and RESP promoters during their working hours

As a result, they may decide to prioritize meeting the immediate basic needs of their families over long-term goals like saving for their children’s PSE.

Self-identifying as Indigenous

Indigenous people experience the above mentioned barriers to a greater degree. For example, 48% of CLB-eligible Indigenous children faced access challengesFootnote 19. This compares to 23% of the total eligible population.Footnote 20

In addition, program analysis found that children are less likely to receive the CLB if they live in the Northwest Territories or Nunavut, if their primary caregiver self-identifies as Indigenous, and/or lives in band housing.Footnote 21

Indigenous families and children are also more likely to face other added barriers. For example, the 2022 CLB evaluationFootnote 22 noted that Indigenous peoples living in rural, remote, or isolated communities have reduced access to:

  • government offices
  • RESP promoters
  • options for PSE

Moreover, the ongoing impacts of historical persecution and discrimination have created mistrust and may make interacting with the government and RESP promoters more difficult for Indigenous primary caregivers. Footnote 23

Emerging challenges

In addition, emerging challenges are informing ESDC’s outreach activities, including:

  • evolving communication channels to reach target populations
  • flexibilities to reflect local and regional challenges and needs
  • managing general misinformation about the benefits

Key areas of activity moving forward

To better help its partners and stakeholders, ESDC will aim to support community-based organizations. This will be done by sending mailings to primary caregivers of CLB-eligible children within their communities where feasible, including youth transitioning to PSE. ESDC will also continue to explore the development of new tools and resources to support not only Canadians but also partners in promoting the benefits of the CLB. These include:

  • revised web pages
  • community resources
  • updated reference materials

Community outreach and engagement activities moving forward for the year will focus on:

  • youth (18 to 20 years old) transitioning to PSE
  • harder-to-reach demographics, such as Indigenous people and those living in rural, remote and isolated communities
  • primary caregivers of low-income households, and public primary caregivers of children for whom the children’s special allowance is paid

Part Ⅳ: 2022 research highlights

Over the course of 2022, the CESP conducted research to better understand how the program has benefitted Canadians, particularly once they started PSE. The following results highlight some of the most important findings.

Average assets held in the Registered Education Savings Plans of beneficiaries who are 18 years old

Using its administrative data, the CESP examined the RESP asset value of 1.2 million beneficiaries who were 18 years old born between 1993 and 2003. Results suggest that:

  • individuals born in 2003 had accumulated an average of $25,364 in their RESPs by the age of 18. This is a 64.1% increase compared to the $15,460 accumulated by individuals born in 1993 (Table 14)
  • results vary considerably by province. British Columbia had the highest average asset values at $23,854 whereas New Brunswick had the lowest at $15,644 (Table 15)
Table 14: Average assets held in the RESPs of beneficiaries who are 18 years old
Birth year of beneficiaries 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003
Average RESP assets (thousands) $15.5 $16.4 $18.1 $18.6 $19.4 $19.6 $20.9 $21.6 $22.7 $24.5 $25.4
Table 15: Average assets held in the RESPs of beneficiaries who are 18 years old born between 1993 and 2003: Nationally and by province and territory
Province or territory RESP assets at age 18 (millions) (1) Number of beneficiaries who are 18 years old (2) Average RESP assets (1)÷(2)
Newfoundland and Labrador $318.4 17,763 $17,928
Prince Edward Island $64.4 4,030 $15,969
Nova Scotia $446.0 24,357 $18,311
New Brunswick $364.3 23,285 $15,644
Quebec $4,182.5 260,105 $16,080
Ontario $11,331.0 505,096 $22,433
Manitoba $573.4 32,691 $17,539
Saskatchewan $592.2 30,926 $19,149
Alberta $2,483.7 119,778 $20,736
British Columbia $3,764.5 157,815 $23,854
Yukon $15.4 750 $20,533
Northwest Territories $18.9 853 $22,174
Nunavut $3.7 168 $21,929
Canada $24,275.3 1,183,880 $20,505

Proportion of postsecondary education students benefitting from the CESP

In 2021, CESP data were made available to researchers on Statistics Canada’s Education and Labour Market Longitudinal Platform (ELMLP). This platform allows the linkage of program and survey data to better understand student and apprentices’ outcomes over time.

To better understand how many PSE students were benefitting from the program, the CESP linked its administrative data to data from Statistics Canada’s Postsecondary Student Information System (PSIS) and Registered Apprenticeship Information System (RAIS). The analysis focused on the receipt of the CESG.

Overall, in 2019, 34.6% of PSE students in Canada had received the CESG (Table 16). Ontario had the highest share of PSE students who had received the CESG at 43.2%, followed closely by Newfoundland and Labrador at 42.4%.

Over the past decade, the share of PSE students who benefitted from the CESG increased by 14.6 pp at the national level, going from 20.0% in 2009 to 34.6% in 2022. All provinces and territories saw an increase, with the steepest being in Newfoundland and Labrador (24.4 pp). The territories had the smallest increases, with Nunavut, the Northwest Territories and Yukon observing increases of 7.8 pp, 6.0 pp and 0.4 pp, respectively.

Table 16: Proportion of PSE students that received the CESG when they were 0 to 17 years old
Province or territory 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019
Newfoundland and Labrador 18.0% 19.7% 21.3% 22.3% 25.0% 27.5% 29.0% 31.4% 34.0% 36.0% 42.4%
Prince Edward Island 20.3% 22.3% 23.7% 26.0% 28.7% 30.4% 31.0% 32.1% 34.2% 34.7% 36.4%
Nova Scotia 20.0% 22.2% 24.0% 25.9% 28.1% 29.9% 31.5% 32.8% 33.7% 36.2% 37.3%
New Brunswick 26.6% 24.4% 26.5% 28.3% 30.6% 33.1% 34.6% 35.9% 37.4% 39.6% 41.8%
Quebec 12.6% 14.3% 15.9% 17.4% 18.7% 20.3% 21.9% 23.2% 24.6% 26.0% 27.3%
Ontario 25.3% 27.5% 29.3% 32.4% 33.7% 35.9% 37.9% 40.1% 41.1% 42.4% 43.2%
Manitoba 20.8% 19.5% 23.7% 25.0% 26.9% 28.3% 29.5% 30.7% 32.3% 33.4% 35.2%
Saskatchewan 26.5% 28.5% 30.0% 31.9% 33.8% 35.4% 36.6% 37.6% 39.3% 40.8% 41.7%
Alberta 21.6% 23.3% 25.2% 27.1% 28.8% 30.3% 32.1% 33.9% 36.1% 38.2% 39.7%
British Columbia 18.5% 20.4% 22.2% 24.3% 26.0% 27.7% 29.4% 31.0% 32.1% 33.5% 34.8%
Yukon 19.9% 22.3% 14.3% 14.2% 14.7% 14.9% 15.7% 15.8% 17.4% 18.4% 20.3%
Northwest Territories 15.4% 10.1% 11.4% 12.7% 13.8% 13.4% 14.2% 15.0% 17.4% 17.7% 21.3%
Nunavut 5.4% 3.4% 3.3% 3.8% 4.9% 5.0% 5.3% 7.4% 13.0% 12.5% 13.2%
Canada 20.0% 21.6% 23.4% 25.2% 26.6% 28.3% 29.8% 31.3% 32.3% 33.4% 34.6%

Note: The proportion of PSE students that received the CESP when they were 0 to 17 years old is calculated by taking the number of PSE students in a given year who received the CESG divided by the number of PSE students in that year.

Postsecondary education outcomes of Canada Education Savings Program beneficiaries

Linking its data to PSIS and RAIS data also allowed the CESP to examine whether receiving the CESG is associated with a higher chance of enrolling in and graduation from PSE. The program found that:

  • on average, slightly more than 40% of Canadians who were 18 years old had enrolled in PSE before they had turned 26 years old (Table 17)
  • in 2012, 61.3% of 18 year old Canadians who had received some CESG had enrolled in PSE by the age of 26 years old. This compares to 33.4% of 18 year old Canadians who had not received any CESGFootnote 24
  • results were similar for individuals who only received the Basic CESG and those who received the Additional CESG (Table 18)
  • the proportion of students who completed a PSE degree within 5 years of enrolling was higher among those who received the CESG than among those who did notFootnote 25: 72.2% vs. 62.9% in 2014 (Table 19)
Table 17: Proportion of Canadians who were 18 years old in any year between 2009 and 2012 and enrolled in PSE by the time they turned 26 years old
Year Overall Did not receive the CESG Received the CESG
2009 41.3% 32.7% 60.9%
2010 43.0% 33.8% 61.7%
2011 43.1% 33.1% 61.8%
2012 43.8% 33.4% 61.3%
  • Note: A student is considered to be enrolled in PSE if they attend PSE before they turn 26 years old. Consequently, results can only be presented up to 2012 because a student who is 18 years old in that year would have been 25 years old in 2019, the most recent year of available data in PSIS. International students are removed from the sample, as they would not have been eligible for the CESG. Students taking high school level courses are also removed as the analysis is only interested in students attending PSE.
  • Source: Statistics Canada, Table 17-10-0005-01: Population estimates on July 1, by age and sex, CESP administrative data 2020 and PSIS, (2009 to 2010) to (2019 to 2020).
Table 18: Proportion of 18 year old Canadians enrolled in PSE by the time they turned 26 years old who either received only the Basic CESG or also received the Additional CESG
Year Received only the Basic CESG Also received the Additional CESG
2009 60.8% 62.9%
2010 61.6% 63.1%
2011 61.7% 62.8%
2012 61.2% 61.8%
  • Note: A student is considered to be enrolled in PSE if they attend PSE before they turn 26 years old. Consequently, results can only be presented up to 2012 because a student who is 18 years old in that year would have been 25 years old in 2019, the most recent year of available data in PSIS. International students are removed from the sample as they would not have been eligible for the CESG. Students taking high school level courses are also removed as the analysis is only interested in students attending PSE.
  • Source: CESP administrative data 2020 and PSIS, (2009 to 2010) to (2019 to 2020).
Table 19: Proportion of students who completed a PSE degree within 5 years of enrolling in PSE
Year Did not receive the CESG Received the CESG
2009 64.9% 74.6%
2010 62.6% 73.2%
2011 62.6% 72.6%
2012 62.4% 72.6%
2013 63.0% 72.7%
2014 62.9% 72.2%
  • Note: Since results in this table present the proportion of students who completed a PSE degree within 5 years, results are only available up to 2014 because PSIS data only goes out to 2019. International students are removed from the sample as they would not have been eligible for the CESG. Students taking high school level courses are also removed as the analysis is only interested in students attending PSE. Also, only students born in or after 1981 are considered since anyone born prior would not have been eligible to receive the CESG.
  • Source: CESP administrative data 2020 and PSIS, (2009 to 2010) to (2019 to 2020).

The data in this report

Data sources: The data in this report come from the CESP reporting database, which compiles information from 84 RESP promoters.

Rounding: The numbers presented in this report may not add up exactly due to rounding decimals.

Aggregation and non-Canadian residents: National totals include data on beneficiaries whose regional identity is either unknown or outside Canada. Because of this, provincial and territorial statistics may not add up precisely to the stated national total.

Historical data: Except for contributions and withdrawals, all figures reported here are nominal and do not account for inflation. The 2022 report supersedes previous editions. Due to the nature of financial transactions, earlier years’ data are updated annually to reflect corrections or additional reporting by financial institutions that may have been delayed.

Change in calculation of the CLB take-up rate: The CLB take-up rate is calculated by taking the number of children in a given year who ever received a CLB payment at least once since 2004 (the numerator) and dividing it by the number of children who were eligible to receive it at least once since 2004, up until that given year (the denominator).

This year, the CESP modified its methodology to calculate the CLB take-up rate. Under this new methodology, both the numerator and denominator changed (Table 20). As a result, the take-up rate is now lower than what was reported in previous versions of the ASR. The change varies from 0.7 pp in 2013 to 0.9 pp in 2022. For example, the CLB take-up rate reported in the 2021 ASR for 2020 was 41.9%. In this year’s ASR, the CLB take-up rate for 2020 is 41.0%, or 0.9 pp lower.

Table 20: Change in methodology used to calculate the CLB take-up rate
Take-up rate components Methodology used in previous ASR New methodology Rationale for the change
Numerator
  • Number of RESP beneficiaries who were eligible for the CLB at least once. We exclude those who fully repaid the bondFootnote 26.
  • Here, the numerator includes children who have an RESP, were eligible for the CLB at least once but have not yet received itFootnote 27.
  • Number of RESP beneficiaries who were eligible for the CLB at least once and received it. We exclude those who fully repaid the bond.
  • Here, the numerator excludes children who have an RESP, were eligible for the CLB at least once but have not yet received it.
We exclude children who have an RESP but did not receive the bond as those children are not CLB recipients.
Denominator Number of children who were eligible for the CLB at least once. The denominator excludes those who fully repaid the CLB. Number of children who were eligible for the CLB at least once. The denominator includes children who were eligible for the CLB but repaid it in full. We include CLB beneficiaries who fully repaid CLB amounts (specifically whose RESP was closed) who are still eligible for the bond as they can still request and receive the bond in the future.

Readers who wish to access additional CESP data, please refer to the corresponding data sets on the Open Government Portal, or contact the CESP by cesp-pcee@hrsdc-rhdcc.gc.ca.

Annex A – Reporting in constant dollars

Since 2021, the Department reports contributions and withdrawals in constant, or real dollarsFootnote 28.

Presenting contributions and withdrawals in constant dollars

Current dollars refer to dollars in the current year, unadjusted for inflation. Constant dollars have been adjusted to reflect their real “purchasing power”.Footnote 29 For instance, a dollar in 1998 could buy a hotdog and a drink. In 2022, a dollar could only get a hotdog. As a result, the 1998 dollar had more purchasing power than the 2022 dollar; in other words, it could buy more.

Constant dollars show how the "purchasing power" of contributions and withdrawals changed over time, which current dollars cannot do. Using constant dollars also aligns with analyses done by the Office of the Chief Actuary (responsible for the valuation of the Canada Pension Plan, Old Age Security Program, Canada Student Financial Assistance Program and Employment Insurance Program), Finance Canada, the Bank of Canada, and other organizations.

Figure 8 shows the average annual contributions made to the RESPs of CESG beneficiaries between 2010 and 2022. Average annual contributions are shown in both current and 2022 constant dollars.

  • Average annual contributions generally declined in constant dollars, going from $1,918 in 2010 to $1,737 in 2022, a 9.4% drop.Footnote 30 This drop means that, increasingly, Canadian families are saving less, and Canadian children will have to find other sources of funds to pay for their postsecondary education. For instance, they might have to take on more loans or work more hours to cover education‑related costs
  • Using current dollars would have led to the opposite or inaccurate conclusion that average annual contributions increased over the periodFootnote 31
Figure 8: Average annual contributions made to the RESPs of CESG beneficiaries (constant vs. current dollars), 2010 to 2022
Description text of figure 8 follows.
Figure 8 – Text version
Years Average annual contributions (in 2022 constant dollars) Average annual contributions (in current dollars)
2010 $1,918 $1,478
2011 $1,859 $1,474
2012 $1,841 $1,482
2013 $1,843 $1,497
2014 $1,827 $1,513
2015 $1,822 $1,526
2016 $1,810 $1,537
2017 $1,823 $1,572
2018 $1,800 $1,588
2019 $1,786 $1,606
2020 $1,833 $1,661
2021 $1,887 $1,768
2022 $1,737 $1,737

Annex B – Canada Education Savings Program results for 2022

All dollar values are in current dollars unless specified otherwise.

Registered Education Savings Plan assets and contributions

Table B1: Total RESP asset by year
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
RESP assets* (billions) $40.5 $44.4 $47.0 $51.3 $55.9 $56.1 $63.7 $69.9 $78.0 $73.0

*This figure represents the market value at year-end, including contributions, education savings benefits (for example: CESG payments and CLB payments) and financial market investment returns, minus RESP withdrawals and the repayment of education savings benefits.

Table B2: RESP assets, CESG payment and CLB payment in 2022 by promoter type
Type RESP assets CESG payments CLB payments
Banking services 28.9% 33.9% 53.0%
Insurance and other 5.6% 8.1% 10.9%
Investment services 46.2% 41.0% 18.3%
Scholarship plan dealers 19.3% 17.0% 17.7%
Table B3: Cumulative RESP contributions
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Cumulative contributions made to RESPs of CLB beneficiaries* (billions) $2.5 $3.2 $4.1 $5.1 $6.3 $7.8 $9.6 $11.5 $13.6 $15.7
Cumulative contributions made to RESPs of CESG beneficiaries** (billions) $41.6 $45.7 $50.0 $54.4 $59.1 $64.0 $69.1 $74.3 $80.1 $85.8
  • * This figure represents the sum of all contributions made to CLB beneficiaries’ RESPs since the introduction of the CLB in 2004.
  • ** This figure represents the sum of all contributions made to RESPs (including those of CLB beneficiaries) since the introduction of the CESP in 1998.
Table B4: Average RESP contributions by province and territory in 2022
Province or territory Average RESP contributions*
Newfoundland and Labrador $1,368
Prince Edward Island $1,525
Nova Scotia $1,501
New Brunswick $1,348
Quebec $1,581
Ontario $1,843
Manitoba $1,395
Saskatchewan $1,568
Alberta $1,608
British Columbia $1,867
Yukon $1,847
Northwest Territories $1,740
Nunavut $2,127
Canada $1,709

*This figure represents total contributions made in a year for a given province or territory divided by the number of beneficiaries who received them.

Table B5: Proportion of beneficiaries by contribution amount received, 2021 and 2022
Annual contribution 2021 2022
$1 to $500 18.7% 18.5%
$501 to $1,000 20.5% 20.4%
$1,001 to $1,500 17.4% 17.7%
$1,501 to $2,000 6.7% 6.7%
$2,001 to $2,500 17.7% 18.4%
above $2,500 19.1% 18.4%
Table B6: Cumulative CESG payments since 1998: Nationally and by province and territory, 2022
Province or territory Cumulative CESG payments* since 1998 (millions)
Newfoundland and Labrador $165.0
Prince Edward Island $48.0
Nova Scotia $295.3
New Brunswick $226.4
Quebec $3,078.1
Ontario $7,626.7
Manitoba $430.9
Saskatchewan $456.9
Alberta $1,988.7
British Columbia $2,410.2
Yukon $15.1
Northwest Territories $13.0
Nunavut $3.0
Canada $16,794.5

* This figure represents the sum of all CESG payments made since the introduction of the Canada Education Savings Program in 1998.

Table B7: Proportion of CESG and CLB payments received by children, broken down by family income level
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Low- and middle-income* families 40.4% 40.6% 41.7% 43.0% 44.6% 47.9% 48.5% 46.2% 44.3% 44.7%
High-income families** 59.6% 59.4% 58.3% 57.0% 55.4% 52.1% 51.5% 53.8% 55.7% 55.3%
  • * Low- and middle-income families are those who received the Additional CESG and/or CLB.
  • ** High-income families are those who only received the Basic CESG.

Canada Education Savings Grant

Table B8: Total annual number of CESG beneficiaries
Year Number of beneficiaries in receipt of the Basic CESG only Number of beneficiaries in receipt of the 10% Additional CESG Number of beneficiaries in receipt of the 20% Additional CESG Number of beneficiaries in receipt of the CESG*
2013 1,656,681 451,690 431,168 2,539,539
2014 1,694,646 478,416 442,869 2,615,931
2015 1,731,258 513,882 466,186 2,711,326
2016 1,759,063 544,280 487,800 2,791,143
2017 1,778,748 581,042 509,149 2,868,939
2018 1,730,614 652,105 551,888 2,934,607
2019 1,751,450 673,307 568,239 2,992,996
2020 1,776,496 690,379 553,841 3,020,716
2021 1,854,935 711,585 543,677 3,110,197
2022 1,844,821 741,551 487,323 3,073,695

* This figure represents the number of CESG beneficiaries who only received the Basic CESG, those who received the 10% Additional CESG, and those who received the 20% CESG.

Table B9: Cumulative number of CESG beneficiaries 0 to 17 years old in 2022, by gender
Cumulative number of CESG beneficiaries Female Male
Number of CESG beneficiaries* 1,963,379 2,044,667
Proportion of CESG beneficiaries 49.0% 51.0%

* This figure represents the number of beneficiaries 0 to 17 years old who received a CESG payment at least once.

Table B10: Number of new beneficiaries in receipt of the CESG
Year Number of new CESG beneficiaries in receipt of the Basic CESG only Number of new CESG beneficiaries in receipt of the 10% Additional CESG Number of new CESG beneficiaries in receipt of the 20% Additional CESG Number of new beneficiaries in receipt of the CESG*
2013 156,557 61,083 70,633 288,273
2014 154,668 61,912 67,525 284,105
2015 168,156 67,528 71,814 307,498
2016 161,344 67,090 77,385 305,819
2017 157,739 67,493 75,871 301,103
2018 141,969 70,761 81,226 293,956
2019 143,702 68,431 78,277 290,410
2020 134,366 62,968 60,567 257,901
2021 162,443 71,025 59,541 293,009
2022 139,413 65,446 54,671 259,530

* This figure represents the combined total of new CESG beneficiaries who only received the Basic CESG, those who received the 10% Additional CESG, and those who received the 20% Additional CESG.

Table B11: CESG take-up rate in 2022: Nationally and by province and territory
Province or territory Cumulative number of beneficiaries in receipt of the CESG* (0 to 17 years old) (1) Number of eligible children** (0 to 17 years old) (2) CESG take-up rate*** (1)÷(2)
Newfoundland and Labrador 37,467 84,428 44.4%
Prince Edward Island 12,810 30,606 41.9%
Nova Scotia 74,860 168,662 44.4%
New Brunswick 59,839 138,804 43.1%
Quebec 968,619 1,616,930 59.9%
Ontario 1,554,359 2,775,370 56.0%
Manitoba 125,300 312,131 40.1%
Saskatchewan 117,891 275,193 42.8%
Alberta 530,031 989,878 53.5%
British Columbia 519,108 888,453 58.4%
Yukon 3,700 8,502 43.5%
Northwest Territories 3,194 10,545 30.3%
Nunavut 793 14,573 5.4%
Canada 4,007,971 7,314,075 54.8%
  • * This figure represents the number of beneficiaries 0 to 17 years old in 2022 who received a CESG payment at least once as of the end of 2022.
  • ** The number of CESG-eligible children is the number of children 0 to 17 years old in 2022. Source: Statistics Canada. Table 17-10-0005-01 Population estimates on July 1, by age and sex.
  • *** This figure represents the cumulative number of CESG beneficiaries divided by the number of CESG-eligible children.
Table B12: CESG take-up rate by gender
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Female* 47.4% 48.7% 50.0% 51.0% 52.1% 53.0% 53.8% 54.1% 55.3% 54.9%
Male** 46.9% 48.3% 49.8% 50.9% 52.0% 52.9% 53.6% 54.0% 55.1% 54.7%
  • * This percentage represents the number of females 0 to 17 years old who received a CESG payment at least once, divided by the number of females 0 to 17 years old.
  • ** This percentage represents the number of males 0 to 17 years old who received a CESG payment at least once, divided by the number of males 0 to 17 years old.
Table B13: Average annual contributions for beneficiaries in receipt of the CESG
Year Average annual contributions for beneficiaries in receipt of the Basic CESG only Average annual contributions for beneficiaries in receipt of the 10% Additional CESG Average annual contributions for beneficiaries in receipt of the 20% Additional CESG Average annual contributions for beneficiaries in receipt of the CESG
2013 $1,667 $1,203 $1,152 $1,497
2014 $1,692 $1,213 $1,152 $1,513
2015 $1,713 $1,229 $1,157 $1,526
2016 $1,734 $1,247 $1,148 $1,537
2017 $1,785 $1,280 $1,165 $1,572
2018 $1,822 $1,313 $1,182 $1,588
2019 $1,847 $1,329 $1,194 $1,606
2020 $1,904 $1,373 $1,241 $1,661
2021 $2,018 $1,464 $1,311 $1,768
2022 $1,972 $1,445 $1,289 $1,737
Table B14: Average annual contributions for beneficiaries in receipt of the CESG in 2022 constant dollars
Year Average annual contributions for beneficiaries in receipt of the Basic CESG only Average annual contributions for beneficiaries in receipt of the 10% Additional CESG Average annual contributions for beneficiaries in receipt of the 20% Additional CESG Average annual contributions for beneficiaries in receipt of the CESG
2013 $2,052 $1,481 $1,419 $1,843
2014 $2,044 $1,465 $1,391 $1,827
2015 $2,046 $1,468 $1,382 $1,822
2016 $2,042 $1,469 $1,352 $1,810
2017 $2,069 $1,484 $1,351 $1,823
2018 $2,065 $1,488 $1,340 $1,800
2019 $2,053 $1,478 $1,328 $1,786
2020 $2,102 $1,516 $1,370 $1,833
2021 $2,155 $1,563 $1,400 $1,887
2022 $1,972 $1,445 $1,289 $1,737

Canada Learning Bond

Table B15: Annual net CLB payments and number of beneficiaries in receipt of the CLB by year
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Net CLB payments* (millions) $102.5 $105.2 $116.7 $135.8 $160.3 $185.2 $198.8 $155.5 $142.2 $151.0
Number of beneficiaries 398,044 441,640 491,295 559,667 643,366 722,767 777,948 738,394 662,038 658,797

*This figure represents gross payments minus repayments.

Table B16: Cumulative number of CLB beneficiaries and take-up rate
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Cumulative number of beneficiaries in receipt of the CLB* (millions) 0.6 0.7 0.8 1.0 1.1 1.3 1.5 1.6 1.7 1.9
Cumulative number of children eligible for the CLB** (millions) 2.1 2.3 2.6 2.8 3.1 3.4 3.7 3.9 4.1 4.4
Take-up rate*** 29.1% 30.7% 32.2% 33.8% 35.6% 37.4% 39.8% 41.0% 41.6% 42.5%
  • * This figure represents the number of children 0 to 20 years old with a cumulative net CLB payment greater than 0. Children are counted in the cumulative number of CLB beneficiaries until they turn 21 years old, the point at which they can no longer retroactively request the CLB.
  • ** This figure represents the number of children 0 to 20 years old who were eligible to receive a CLB payment at least once since 2004.
  • *** This figure represents the cumulative number of children receiving the CLB divided by the cumulative number of children eligible for the CLB.
Table B17: Cumulative number of CLB beneficiaries 0 to 18 years old in 2022, by gender
Cumulative number of CLB beneficiaries Female Male
Number of CLB beneficiaries 912,752 946,195
Proportion of CLB beneficiaries 49.1% 50.9%
Table B18: CLB take-up rate and payment in 2022: Nationally and by province and territory
Province or territory Cumulative number of children in receipt of CLB* (1) Cumulative number of children eligible for CLB** (2) CLB take-up rate*** (1) ÷ (2) Cumulative net CLB payment**** (millions)
Newfoundland and Labrador 14,483 51,205 28.3% $14.7
Prince Edward Island 5,782 17,562 32.9% $5.7
Nova Scotia 36,212 108,294 33.4% $37.1
New Brunswick 29,690 89,246 33.3% $30.7
Quebec 472,439 955,389 49.4% $473.0
Ontario 682,563 1,633,966 41.8% $709.4
Manitoba 69,281 216,856 31.9% $67.2
Saskatchewan 51,644 180,578 28.6% $47.0
Alberta 234,412 576,571 40.7% $214.0
British Columbia 252,918 500,374 50.5% $246.2
Yukon 1,294 4,084 31.7% $1.1
Northwest Territories 1,025 6,337 16.2% $1.0
Nunavut 310 12,045 2.6% $0.3
Canada 1,858,946 4,375,611 42.5% $1,860.9
  • * This figure represents the number of children 0 to 20 years old in 2022 with a cumulative net CLB payment (gross payment - repayment) greater than 0. Children are counted in the cumulative number of CLB beneficiaries until they turn 21 years old as they have up until that age to request the CLB retroactively.
  • ** This figure represents the number of children 0 to 20 years old in 2022 who were eligible to receive a CLB payment at least once over the 2004 to 2022 period.
  • *** This figure represents the cumulative number of children receiving the CLB divided by the cumulative number of children eligible for the CLB.
  • **** This figure represents the sum of all CLB gross payments minus all repayments made since the introduction of the CLB in 2004.
Table B19: Contributions made to the RESPs of CLB beneficiaries
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Proportion of RESPs that receive some contribution* 79.9% 78.7% 78.2% 76.9% 74.8% 73.2% 72.7% 72.2% 72.8% 71.1%
Average contribution** $1,030 $1,050 $1,064 $1,076 $1,122 $1,151 $1,186 $1,236 $1,325 $1,297
  • * This figure represents the number of CLB beneficiaries who received a contribution in their RESPs in a year divided by the number of CLB beneficiaries in that year.
  • ** This figure represents the sum of all contributions made to the RESPs of CLB beneficiaries in a year divided by the number of CLB beneficiaries who received a contribution in their RESPs in that year.

Registered Education Savings Plan withdrawals for postsecondary education

Table B20: RESP withdrawals and number of beneficiaries making RESP withdrawals
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
RESP withdrawals (billions) $2.8 $3.1 $3.3 $3.6 $3.8 $4.1 $4.4 $4.0 $4.9 $5.1
Number of beneficiaries making RESP withdrawals 361,206 382,557 397,555 422,565 434,028 446,498 466,291 422,897 484,060 493,299
Average RESP withdrawals $7,670 $8,045 $8,297 $8,512 $8,832 $9,169 $9,453 $9,402 $10,138 $10,359
Table B21: RESP withdrawals in 2022 constant dollars and number of beneficiaries making RESP withdrawals
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
RESP withdrawals (billions in 2022 constant dollars) $3.4 $3.7 $3.9 $4.2 $4.4 $4.6 $4.9 $4.4 $5.2 $5.1
Number of beneficiaries making RESP withdrawals 361,206 382,557 397,555 422,565 434,028 446,498 466,291 422,897 484,060 493,299
Average RESP withdrawals (in 2022 constant dollars) $9,444 $9,716 $9,909 $10,024 $10,241 $10,393 $10,510 $10,377 $10,825 $10,359
Table B22: RESP withdrawals for beneficiaries from low- and middle-income families
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
(1) Total withdrawals from the RESPs of beneficiaries belonging to low- and middle-income families* (billions) $0.4 $0.5 $0.6 $0.7 $0.8 $1.0 $1.1 $1.1 $1.5 $1.8
(2) Number of beneficiaries belonging to low- and middle-income families with RESP withdrawals** 49,685 61,606 73,076 87,102 98,808 111,254 126,775 124,893 158,133 182,525
(3) Average RESP withdrawals made from the RESPs of beneficiaries belonging to low- and middle-income families= (1) ÷ (2) $7,900 $8,033 $8,230 $8,248 $8,394 $8,664 $8,899 $9,021 $9,413 $9,656
(4) Percentage of withdrawals made from the RESPs of beneficiaries belonging to low- and middle-income families*** 14.2% 16.1% 18.2% 20.0% 21.6% 23.5% 25.6% 28.3% 30.3% 34.5%
(5) Percentage of beneficiaries from low- and middle-income families with RESP withdrawals**** 13.8% 16.1% 18.4% 20.6% 22.8% 24.9% 27.2% 29.5% 32.7% 37.0%
  • * This figure represents the sum of funds withdrawn from RESPs that received an Additional CESG payment at least once.
  • ** This figure represents the number of beneficiaries aged 15 years or older with RESP withdrawals who received an Additional CESG payment at least once.
  • ***This figure represents the sum of withdrawals from RESPs that received an Additional CESG payment at least once divided by the total number of RESP withdrawals made in a calendar year.
  • **** This figure represents the number of beneficiaries aged 15 years and older with withdrawals from an RESP who received an Additional CESG payment at least once divided by the number of beneficiaries aged 15 years and older with an RESP withdrawal.
Table B23: RESP withdrawals for beneficiaries from low- and middle-income families in 2022 constant dollars
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
(1) Total withdrawals from the RESPs of beneficiaries belonging to low- and middle-income families*(billions in 2022 constant dollars) $0.5 $0.6 $0.7 $0.8 $1.0 $1.1 $1.3 $1.2 $1.6 $1.8
(2) Number of beneficiaries belonging to low- and middle-income families with RESP withdrawals** 49,685 61,606 73,076 87,102 98,808 111,254 126,775 124,893 158,133 182,525
(3) Average RESP withdrawals (in 2022 constant dollars)= (1) ÷ (2) $9,727 $9,701 $9,829 $9,713 $9,733 $9,821 $9,893 $9,956 $10,051 $9,656
  • * This figure represents the sum of funds withdrawn from RESPs that received an Additional CESG payment at least once, reported in 2022 constant dollars.
  • ** This figure represents the number of beneficiaries aged 15 years and older with RESP withdrawals who received an Additional CESG payment at least once.
Table B24: EAP and PSE withdrawals
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
EAP*(billions) $1.0 $1.2 $1.3 $1.5 $1.6 $1.8 $1.9 $1.8 $2.4 $2.4
PSE withdrawals**(billions) $1.7 $1.8 $2.0 $2.1 $2.2 $2.3 $2.5 $2.2 $2.5 $2.7
Total RESP withdrawals***(billions) $2.8 $3.1 $3.3 $3.6 $3.8 $4.1 $4.4 $4.0 $4.9 $5.1
  • * This figure represents the sum of EAPs made in a calendar year. These are payments from an RESP to help an eligible beneficiary cover the expenses associated with PSE. It is a combination of federal and provincial education savings benefits paid into RESPs and accumulated returns over time. These amounts are withdrawn upon proof of PSE enrollment.
  • ** This figure represents the sum of all PSE withdrawals made in a calendar year. A PSE withdrawal is a withdrawal of contributions made by subscribers without penalty when the beneficiary enrolls in PSE.
  • *** This figure represents the sum of EAPs and PSE withdrawals.
Table B25: EAP and PSE withdrawals in 2022 constant dollars
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
EAP* (billions in 2022 constant dollars) $1.3 $1.5 $1.6 $1.7 $1.9 $2.0 $2.1 $2.0 $2.6 $2.4
PSE withdrawals** (billions in 2022 constant dollars) $2.1 $2.2 $2.3 $2.5 $2.6 $2.6 $2.8 $2.4 $2.7 $2.7
Total RESP withdrawals*** (billions in 2022 constant dollars) $3.4 $3.7 $3.9 $4.2 $4.4 $4.6 $4.9 $4.4 $5.2 $5.1
  • * This figure represents the sum of EAPs made in a calendar year, reported in 2022 constant dollars. EAPs are payments from an RESP to help an eligible beneficiary cover the expenses associated with PSE. It is a combination of federal and provincial education savings benefits paid into RESPs and accumulated returns over time. These amounts are withdrawn upon proof of PSE enrollment.
  • ** This figure represents the sum of PSE withdrawals made in a calendar year, reported in 2022 constant dollars. A PSE withdrawal is a withdrawal of contributions made by subscribers without penalty when the beneficiary enrolls in PSE.
  • *** This figure represents the sum of EAPs and PSE withdrawals, reported in 2022 constant dollars.
Table B26: Proportion of beneficiaries with RESP withdrawals by gender
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Female* 53.1% 53.0% 52.9% 52.9% 53.0% 53.0% 53.0% 53.3% 53.3% 53.3%
Male** 46.9% 47.0% 47.1% 47.1% 47.0% 47.0% 47.0% 46.7% 46.7% 46.7%
  • * This figure represents the number of female beneficiaries aged 15 years and older with RESP withdrawals divided by the number of beneficiaries 15 years old and above with RESP withdrawals.
  • ** This figure represents the number of male beneficiaries aged 15 years and older with RESP withdrawals divided by the number of beneficiaries 15 years old and above with RESP withdrawals.
Table B27: Average RESP withdrawals by gender
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Female* $7,552 $7,921 $8,147 $8,340 $8,686 $8,994 $9,254 $9,193 $9,896 $10,152
Male** $7,804 $8,186 $8,465 $8,706 $8,996 $9,367 $9,678 $9,641 $10,414 $10,595
Total*** $7,670 $8,045 $8,297 $8,512 $8,832 $9,169 $9,453 $9,402 $10,138 $10,359
  • * This figure represents the sum of funds withdrawn from the RESPs of female beneficiaries aged 15 years and older divided by the number of female beneficiaries aged 15 years and older with RESP withdrawals.
  • ** This figure represents the sum of funds withdrawn from the RESPs of male beneficiaries aged 15 years and older divided by the number of male beneficiaries aged 15 years and older with RESP withdrawals.
  • *** This figure represents the sum of funds withdrawn from the RESPs of beneficiaries aged 15 years and older divided by the number of beneficiaries aged 15 years and older with RESP withdrawals.
Table B28: Average RESP withdrawals by gender in 2022 constant dollars
Year 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022
Female* $9,299 $9,566 $9,730 $9,821 $10,072 $10,194 $10,288 $10,146 $10,567 $10,152
Male** $9,609 $9,885 $10,110 $10,252 $10,431 $10,616 $10,760 $10,641 $11,120 $10,595
Total*** $9,444 $9,716 $9,909 $10,024 $10,241 $10,393 $10,510 $10,377 $10,825 $10,359
  • * This figure represents the sum of funds withdrawn from the RESPs of female beneficiaries aged 15 years and older divided by the number of female beneficiaries aged 15 years and older with RESP withdrawals. It is reported here in 2022 constant dollars.
  • ** This figure represents the sum of funds withdrawn from the RESPs of male beneficiaries aged 15 years and older divided by the number of male beneficiaries aged 15 years and older with RESP withdrawals. It is reported here in 2022 constant dollars.
  • *** This figure represents the average withdrawals made from the RESPs of beneficiaries aged 15 years and older. It is calculated as the sum of funds withdrawn from the RESPs of beneficiaries aged 15 years and older divided by the number of beneficiaries aged 15 years old and older with RESP withdrawals. It is reported here in 2022 constant dollars.

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