Registered Disability Savings Plan


Throughout Financial Literacy Month in November, organizations and individuals from across the country are invited to participate in events aimed at helping Canadians learn how to manage their personal finances successfully. It is an excellent opportunity to learn more on how you can help plan for the future of a child, a parent or a friend with disabilities.

 Informing Canadians about the Registered Disability Savings Plan (RDSP) and encouraging participation in the program can help Canadians with disabilities increase their financial security. During the month of November, the Government of Canada is taking the initiative to inform Canadians of the advantages of RDSPs.

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 Introduced in 2008, RDSPs help Canadians with disabilities and their families save for the future. To become a beneficiary of an RDSP, you must:

 1.            be a Canadian resident;

2.            be eligible for the disability tax credit; and

3.            have a valid Social Insurance Number.

 With an RDSP, Canadians can receive up to $3,500 per year through the Canada Disability Savings Grant, and up to $1,000 per year through the Canada Disability Savings Bond. The Government of Canada could provide up to $3 in grants for every dollar contributed to the RDSP, while no contributions to the RDSP are required to receive the bond. Saving in an RDSP enables the beneficiary to take advantage of this money from the federal government¬¬—up to a lifetime maximum of $90,000 in grants and bonds.

 Money invested in an RDSP will have a positive and significant impact on the life of a person with a disability. Whatever your relation to the person with a disability, you can help shape their future by making contributions to their RDSP.

 For more information on RDSPs, the Canada Disability Savings Grant or the Canada Disability Savings Bond, visit Employment and Social Development Canada. The website also offers tools like the RDSP Savings Calculator and videos on the subject.

 If you want to know more on Financial Literacy Month, please visit the website: