About RESPs. A Registered Education Savings Plan (RESP) is a tax-deferred investment plan that helps you save for a child's post secondary education, so that you'll have the funds you need, when you need them.You can make contributions up to a maximum of $50,000 per child until the child turns 31.bout RESPs. A Registered Education Savings Plan (RESP) is a tax-deferred investment plan that helps you save for a child's post secondary education, so that you'll have the funds you need, when you need them. You can make contributions up to a maximum of $50,000 per child until the child turns 31.