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All about the RDSP

The Registered Disability Savings Plan (RDSP) is a Canada-wide registered matched savings plan for people with disabilities.

Here are some basics:

  • For every $1 put in an RDSP account, the federal government will match it (if your family income is below $83,088) with up to $3! This is the Canada Disability Savings Grant.
  • For people living on a low-income (less than $24,183), the federal government will invest $1000 each year for 20 years! This is the Canada Disability Savings Bond.
  • People living on an income between $24,183 and $41,544 can still receive a partial bond.
  • Anyone can contribute to an RDSP – family, friends, and even neighbours. This gives people who want to help a way to do so!
  • RDSPs offer some of the best returns on investment available. Your money will grow. It might even triple in size!
  • The RDSP is exempt from most provincial disability and income assistance benefits. The government will not claw this money back. (To find out how your province treats the RDSP, go to www.disabilitysavings.gc.ca.)
  • There are no restrictions on how RDSP withdrawals are spent.

Comments

Can money from an RESP be rolled into an RDSP?

Chris Douglas
March 11, 2011
4:02 pm
Reply |

What is the maximum amount that I may put into the RSDP account per year?

Judy Roberts
May 3, 2011
3:46 am
Reply |

is there a time minimum that the money has to stay in the rdsp, or can you withdraw it whenever you like without penalty?

nelli/?e
September 3, 2011
7:50 pm
Reply |

I am 52 and would like to open an RDSP. Will the government still contribute to my RDSP. I don’t think I qualify for the grant or bond. What is the benefit to me opening an RDSP?
Thank you

D Nelson
January 7, 2012
3:10 am
Reply |

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