Registered Disability Savings Plan

A unique savings plan with extra money from the government.

A Registered Disability Savings Plan (RDSP) helps parents and others save for the long-term financial needs of an individual with a disability. Individuals must be eligible for the disability tax credit, have a valid social insurance number, be a Canadian resident and under the age of 60.

Investments are tax-deferred until the funds are withdrawn.

There is no annual contribution limit however there is a lifetime contribution limit of $200,000. Contributions can be made until the end of the year when the beneficiary turns 59.

A little help:

Additional information is also available on the Canada Revenue Agency's website.

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Government Grant and Bond

The government offers a grant and bond to encourage savings:

The Canada Disability Savings Grant (CDSG)

Depending on the beneficiary’s family income and the amount contributed, the government will pay matching grants of 100%, 200% or 300%, up to a maximum of $3,500 in one year. A beneficiary may receive up to $70,000 in a lifetime. The government will provide a grant on contributions made until the end of the year when the beneficiary turns 49.

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Canada Disability Savings Bond (CDSB)

Bonds of up to $1,000 a year will be paid directly into an RDSP to low-income Canadians with disabilities. The amount of the bond is based on the beneficiary’s family income. The bond is paid into the RDSP until the end of the year when the beneficiary turns 49 and has a lifetime bond limit of $20,000. It’s not a requirement to make contributions in the RDSP to receive a bond.

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Ready to save?

Our skilled planning team is here to help understand your situation so they can recommend the RDSP portfolio mix that’s right for you.
Call us at 1.888.517.7000 Mon-Sat, 8am-8pm; Sun, 9am-5:30pm.

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Coast Capital Savings Credit Union provides service and advice related to deposit, loan and mortgage products. Coast Capital Financial Management Ltd. provides service and advice related to life insurance, segregated funds and annuities. Worldsource Financial Management Inc. provides service and advice related to mutual funds. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the Fund Facts before investing. Mutual funds are not guaranteed and are not covered by the Canada Deposit Insurance Corporation (CDIC) or by any other government deposit insurer. There can be no assurances that the fund will be able to maintain its net asset value per security at a constant amount or that the full amount of your investment in the fund will be returned to you. Fund values change frequently and past performance may not be repeated.