The Honourable Jim Flaherty, Minister of Finance, today announced the launch of the Government of Canada’s review of the Registered Disability Savings Plan (RDSP).
Minister Flaherty made the announcement this morning at the Association pour l’intégration sociale d’Ottawa.
The Government is inviting stakeholders to comment on RDSPs to ensure that the plans are meeting the needs of Canadians with severe disabilities and their families. “It is important for those who benefit from these plans to give their input, so that RDSPs continue to accurately reflect and address their true needs,” said Minister Flaherty.
The RDSP is widely regarded as a major policy innovation and positive development in helping to ensure the long-term financial security of children with severe disabilities. The RDSP was introduced in Budget 2007 and became available in 2008. Budget 2008 announced that the program would be reviewed three years after plans became operational.
The review will seek input on a number of important topics that are crucial to the success of the RDSP. These include issues related to establishing plans, accessing plan savings, plan termination, and the administration of the RDSP program.
Individuals, families, groups representing Canadians with disabilities, financial institutions and experts in the field are encouraged to share their views on these and other relevant issues.
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Please see the following related document released by the Department of Finance, which describes PLAN—a stakeholder—working together with the Canadian Government to improve the RDSP on behalf of families.
Fed Gov 3-Year Review Consultation Paper
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Ensuring the Effectiveness of Registered Disability Savings Plans