Registered Disability Savings Plan (RDSP)

Ensure the long-term financial security of a person with a severe and prolonged disability.

Is this savings plan for you?

  • You are looking to ensure the long-term financial security of a person with a severe and prolonged disability must eligible for the disability tax credit.
  • You want to save this money for yourself or another person, for example, a child or spouse.
  • The beneficiary is under 60 years of age
Outlines

Main feature :Allows you to build financial security for yourself or your loved ones with severe and prolonged disabilities

Maximum contribution :$200,000 for life

Contributions may qualify beneficiary for :

  • Canada Disability Savings Grant (CDSG) of up to $3,500 per year and a lifetime maximum of $70,000 More details
  • Canada Disability Savings Bond (CDSB) of up to $1,000 per year and a lifetime maximum of $20,000, with no contributions More details
Features
Investment options
  • Guaranteed fixed-rate investments
  • Market-linked guaranteed investments
  • RDSP Regular Savings Account
Deposit amount and frequency
  • Periodic payments of $100
  • Minimum payment frequency: monthly

Since earnings grow tax-free, it is best to invest at the beginning of the year.

Beneficiaries The plan must have only one beneficiary. This beneficiary may only have a single plan at any one time.
Other

CDSG and CDSB amounts depend on the beneficiary’s net family income.

More information

Find out more about RDSP

 

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