Create a nest egg with an RDSP
A tax deferred savings plan, the Registered Disability Savings Plan is designed to help Canadians with disabilities and their families prepare for the future.
Who is eligible?
An individual can be designated the beneficiary of this registered plan if this person meets all of the following eligibility criteria:
- Is approved for the Disability Tax Credit (DTC)
- Has a valid social insurance number (SIN)
- Is a Canadian resident when the plan is entered into
- Is younger than 60 years of age
Benefit from the savings power of an RDSP
Grow your money faster – Savings grow tax-free until withdrawn, so interested is compounded faster.
Anyone can contribute – Whether friends or family, anyone can add savings to an RDSP.
Hold a number of investments – Qualified investments such as term deposits, investment savings accounts, and mutual funds can be held in your RDSP.
Benefit from government support – Grow your savings with the federal government's matching grants, and for low- to mid-income individuals, the bonds.
Canadian Disability Savings Grant (CDSG) – The federal government will pay a matching grant of up to 300% on RDSP contributions to a maximum of $3,500 annually. The CDSG is based on net family income to a maximum lifetime benefit of $70,000.
Canadian Disability Savings Bond (CDSB) – The federal government will provide low-income Canadians an additional incentive of up to $1,000 annually. You do not have to make a contribution in order to receive the CDSB. The maximum lifetime benefit is $20,000.
About deposit protection
Eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA).
We can help provide security and peace of mind to people living with a disability. Let us answer all your questions.
How much will I save?
Use our RDSP Calculator to estimate how much annual income you can rely on from your disability savings, and how government grants will contribute.
