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The Registered Disability Savings Plan

The Registered Disability Savings Plan is a made-in-Canada innovation designed to provide a long term savings vehicle for people with disabilities. 

With personal contributions, grants and bonds provided by the Canadian Government, and opportunities to grow the plan through a variety of investment options, an RDSP can grow quickly. 

To Qualify:  
  • Must be a resident of Canada
  • Must have a social insurance number
  • Must also qualify for the disability tax credit
  • Must be under 59 years of age

Opening an RDSP:
  • Most Canadian financial institutions offer the RDSP and many financial advisors can also help you set up and manage your RDSP
  • The person who sets up and manages an RDSP is considered the PLAN Holder. A beneficiary may be a Plan Holder or a parent, spouse, common law partner or guardian may be the Plan Holder
Using RDSP Funds:
  • There are no restrictions in how RDSP funds may be spent
  • Funds may be withdrawn as regular payments or lump sum withdrawals
  • Important Note: Withdrawals made before all Grants and Bond have been in your plan for at least 10 years are subject to clawback.  Maximize your benefits by waiting 10 years after receiving your last bond or grant before withdrawing funds.

Maximizing Your RDSP:
  • To receive bonds and maximize grants you must file your income tax returns each year. 
  • To receive bonds 
  • You can claim any grants and bonds you were eligible for in the last 10 years.
  • Monitor your RDSP investments over time.  Every financial institution offers different investment options for your RDSP.