Registered Disability Savings Plan

Do you or a loved one have a disability? A Registered Disability Savings Plan (RDSP) could be your pathway to a financially secure future. An RDSP is a tax-sheltered savings plan, with no annual contribution limit. The savings through the plan can be used to pay for your long-term financial needs, such as medical or home care costs.

The biggest advantage of the RDSP is that by having one, you could be eligible to receive up to $90,000 in government contributions through two financial programs:

• The Canadian Disability Savings Grant (CDSG): The federal government will match contributions up to $3,500 annually up to a lifetime maximum of $70,000.

• Canada Disability Savings Bond (CDSB): The federal government will contribute $1,000 annually to low-income Canadians, up to a lifetime maximum of $20,000.

Who can open an RDSP?

You can open an RDSP if you are:

• A parent or legal guardian of the beneficiary (or another individual who is legally authorized to act for the beneficiary)

• A public department, agency, or institution that is legally authorized to act on behalf of the beneficiary

Who can become a beneficiary of an RDSP?

To be eligible to be a beneficiary of an RDSP, an individual must:

• Be eligible for the disability tax credit (DTC)

• Have a valid Social Insurance Number

• Be a resident of Canada

• Be under the age of 60

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