General Questions
What is Endowment 150?
Endowment 150 offers eligible people with disabilities a one-time grant of $150 to help their Registered Disability Savings Plan (RDSP) grow.
What else can I do to grow my savings?
You could receive additional funds for your RDSP through Canada Disability Savings Grants and Bonds. All of this money will grow and help you have the life you want in years to come.
Am I Eligible?
Full details about eligibility requirements are listed on the Adult Application and Child Application pages.
How do I get an RDSP?
To find out what an RDSP is and how to get one, click here..
Questions About Eligibility
Why is Endowment 150 limited to low-income individuals and families?
With limited funds available, Endowment 150 focuses on those who would benefit most from a $150 contribution. We know that RDSP uptake is low, especially for people with low income. Endowment 150 provides an incentive to those who may have a harder time accessing the RDSP.
I have more than one child with a disability. Can I apply for Endowment 150 for each child?
Yes, provided each child meets the Endowment 150 eligibility criteria. For eligibility details see the Child Application page.
Are children eligible for Endowment 150?
Children are eligible for Endowment 150 if they are under 18 years of age, live in BC, and have an RDSP.
Am I eligible for Endowment 150?
Full details about eligibility requirements are listed on the Adult Application and Child Application pages. In summary, Endowment 150 is available to the following BC residents:
- Adults with a disability, who are under 60 (if 59, the individual must apply before the end of the calendar year in which he/she turns 59) years of age, have received income assistance sometime after January 1, 2008, or have had income below $36,500 in one year since 2008, and have an RDSP.
- Children with a disability, who are under 18 years of age and have an RDSP.
Can I use the $150 Endowment 150 grant for something other than a contribution towards my RDSP?
No, the Endowment 150 grant must be used as a contribution for your RDSP, assisting you on the path to financial security.
Questions About the Application Process
How do I apply for Endowment 150?
Endowment 150 is open to any British Columbian with a disability who meets the eligibility criteria. Information about these criteria and application details can be found on the application pages: Child application page / Adult application page
When can I apply for Endowment 150?
You can apply now. We accept applications on a rolling basis. To download an application or get details about how to apply, see the Apply pages: Child application page / Adult application page
Is there a deadline for submitting my Endowment 150 application?
There are no deadlines for Endowment 150 applications at this time. You can submit an application whenever you’d like.
Besides the Endowment 150 application form, what other documentation do I need to submit?
Along with your application form, you will need to include a copy of a recent RDSP statement. Adult applicants who have received income assistance and have a My Self Serve account are requested to also submit a printed Confirmation of Assistance from myselfserve.gov.bc.ca. If you are applying for yourself or on behalf of an adult and are not on income assistance but have low income, we request that you submit a copy of your notice of assessment from one year since 2008 that shows net income (line 236) as being at or below $36,500. Alternative forms of income verification may be accepted – please contact us at e150@planinstitute.ca or 604-439-9566 ext 155 with questions. For more detail about these requirements, see our Adult Application and Child Application pages.
Is my application information safe?
Yes. We have taken every precaution to ensure that the confidential information you share through your Endowment 150 grant application is safe and secure.
How long will it take to process my Endowment 150 application?
This depends on the number of applications that we are receiving, but currently, the wait time is about 8 weeks. For example, this means that if we received your application on the 15th of September, we would like to have your cheque mailed around November 15th. If there are delays, a notification will be posted on our website. You can check back here to see if your application might be impacted.
How will I find out if my Endowment 150 application is approved?
You will be sent a letter once your application is processed. If your application is approved, you will also be sent a cheque to be deposited into your RDSP.
What happens once my application is approved?
If your application is approved, you will be sent a letter and a $150 cheque to be deposited into your RDSP. If you have decided to accept a direct deposit payment for this amount, you will need to immediately transfer the funds from your usual bank account to your RDSP. After you’ve deposited the $150 into your RDSP, we recommend you retain “proof of deposit” for your files. Proof of deposit can be a copy of the transaction record, a copy of the RDSP statement, or a notice from your bank. It should clearly show the same RDSP number that you submitted on your application and the deposit of the $150 from Endowment 150. While we do not require you to provide that proof, we reserve the right to ask for proof of deposit at a later date, for auditing purposes.
I want to receive the $150 as a direct deposit into my bank account. If I provide my void cheque or direct deposit form, how will I know I have been approved and the money will be deposited into my account?
You will receive a letter in the mail to confirm that your application has been approved and that the direct deposit payment has been made. You will also receive an email from our direct deposit payment system, Plooto, to confirm that the funds have been deposited. Once you receive this email, it will take up to five business days for the funds to arrive in your account. Once this has been completed, it will be your responsibility to transfer the funds into your RDSP.
My financial institution doesn’t allow direct deposit into the RDSP and I don’t want to receive a cheque. Is there another way I can receive payment?
Yes. Please confirm with your financial institution the best way to receive third-party payments into your RDSP. For some institutions, this will require that the cheque be made payable to the financial institution and mailed directly there, usually with a signed letter of direction from the holder or a completed consent form. You can also receive the $150 by direct deposit into your personal account, and then deposit the funds into your RDSP the same way you would normally make deposits. If you have specific instructions outside of receiving a cheque or direct deposit payment, please include a signed letter of direction to Plan Institute with your application. If you have questions or would like a template of this letter of direction, please contact Endowment 150 support.
If you would like to learn more about any of these questions or want to know something that is not answered here, please contact our Endowment 150 support at e150@planinstitute.ca or 604-439-9566 ext 155.
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