Chatham-Kent Employment and Social Services Supervisor Mary Alice Searles, December 7, 2015 (Photo by Jake Kislinsky)Chatham-Kent Employment and Social Services Supervisor Mary Alice Searles, December 7, 2015 (Photo by Jake Kislinsky)
Chatham

CK Promotes Canada Learning Bond

Chatham-Kent Employment and Social Services staff want more children to sign up for an RESP, in order to benefit from a government-sponsored bond.

Social service officials say only 23% of students eligible for the Canada Learning Bond have applied for an RESP and received the bond.

Supervisor Mary Alice Searles says the bond provides under-privileged youth $500 initially, adding another $100 every year until the age of 15.

"It's been around since 2004, and the statistics are very low on it," she says. "Only 33% of eligible students have signed up for it across Canada. So employment and social development is really moving forward to try and bring that increase up."

Searles adds they've tried to pinpoint why the bond hasn't become more popular.

"People are still learning about it. A lot of those we've talked to say they've never heard of it. Also it's an extra step to get to the bank to sign up, so it takes time."

To find out more on how to apply, click here.

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