Ottawa reviews RDSPs to improve them – Financial Post
The federal government says it will consider changes to the Registered Disability Savings Plan program that has already attracted 48,000 people in its first three years. The plan offers generous funding under the Canada Disability Savings Grants program. Depending...
ENSURING THE EFFECTIVENESS OF REGISTERED DISABILITY SAVINGS PLANS-Finance Canada
ENSURING THE EFFECTIVENESS OF REGISTERED DISABILITY SAVINGS PLANS 1. Introduction An important consideration for parents and grandparents of a child with a severe disability is how best to ensure that child’s financial security when they are no longer able...
Government Launches Review of the Registered Disability Savings Plan (News Release 2011-103)
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 preventing the charge of fees against the holdback amount good policy?
The Canada Disability Savings Regulations (4)(f) stipulate that financial institutions cannot charge fees related to the Registered Disability Savings Plan against the assistance holdback amount of the RDSP. While this provision seems innocuous, it has a huge impact on...
Financial Security (for your relative with a disability)
…the first in a series to promote Financial Literacy 27% of non-retired Canadians don’t commit to any type of savings, not even for retirement 4 in 10 Canadians don’t feel confident they’ll have enough money in retirement – from Hennessy’s...
Delays in the Payment of Grant or Bond?
A detailed overview of most common problems which delay Canada Disability Saving Grant or Bond payments and steps to take to remedy the situation.
Piloting her way to a comfortable retirement – Globe and Mail
Four years from retirement and only recently earning a “pretty good” salary, Marianne is worried. She will get a pension of about $2,600 a month from the university where she teaches and she has some savings. But does she...
RDSP versus Trust: Scenario 2 (Janis)
One of the most common questions that we get is, “Should I put my money in an RDSP or a Trust?” The answer is invariably, “It depends.” This scenario explore the options when a 46 year old woman inherits...
How Income Tax Provisions on RDSP Income may Affect Canada’s Newest—yet Landless—Band: The Qalipu Mi’kmaq of Newfoundland – by Joel Crocker
When payments are withdrawn from an RDSP, they are considered to contain private contributions, government contributions and investment income in the same proportions as within the RDSP. Two of these, the government contributions and investment income, are taxable upon...
Should the holdback amount deter you from opening an RDSP?
I have spoken to people who seem willing to walk away from more than $40,000, even when no personal investment is necessary: this is the situation when one receives the Canada Disability Savings Bond only into an RDSP and...