RDSP’s

The Registered Disability Savings Plan (RDSP) sets your loved one on the path to long-term financial security. It can give them (and their family) the comfort of knowing they’ll be supported, no matter where life takes them. Providing education on financial security options for people with disabilities and their families is a service we have  championed and take great pride in.

About RDSP’s

• People under the age of 49 who have been approved for the disability tax credit are eligible to open an RDSP. A financial planner is required to open your plan.
• If you don’t have a financial planner with RDSP experience, then we can connect you with one to guide you through the process.
• The RDSP is a long-term savings plan that benefits people with disabilities, and their families, in saving for their long-term financial needs in a tax-deferred environment. The RDSP combines individual or family contributions with government grants and bonds. By investing wisely, the RDSP can grow into a significant asset.
• The Federal government has a matching program that provides for a Canada Disability Savings Grant.
• For low-income Canadians, the Canada Disability Savings Bond provides up to $1,000 per year with no contributions required.
• Savings in an RDSP grow tax-deferred, although contributions are not tax-deductible.
• The money coming out of an RDSP can be used for any purpose for the benefit of the plan’s beneficiary.
• Withdrawals from an RDSP are referred to as Disability Assistance Payments. Withdrawals must begin by the end of the year the beneficiary turns age 60. Payments from the RDSP do not affect eligibility for Federal Government benefits such as the GST credit, OAS, GIS, CPP and the Child Tax Benefit.