Registered Disability Savings Plan

What is an RDSP?

Who is eligible for an RDSP account?

An RDSP is a long-term savings plan for Canadians with a disability to save on a tax-deferred basis for their future

Who is eligible for an RDSP account?

A person is eligible to be a beneficiary on an RDSP if they:

- Are eligible for the Disability Tax Credit (DTC)

- Have a valid SIN

- Are 59 or younger

- Are a Canadian resident

How does it work?

When you make a contribution into your or your loved one's RDSP, the government will match your contribution through grants and bonds.

How much the government contributes depends on the beneficiary's household income.

Canada Disability Savings Grant (CDSG)

You can receive up to $3,500 per year, up to a maximum of $70,000 total through the CDSG.

Canada Disability Savings Bond (CDSB)

Canada Disability Savings Grant (CDSG)

You can receive up to $1,000 per year and up to a maximum of $20,000 total through the CDSB.

Contribution Limits

Canada Disability Savings Grant (CDSG)

Contribution Limits

While there is no annual limit for personal contributions, there is a lifetime limit of $200,000.

Who can open RDSP?

There is a Holder and a Beneficiary in each RDSP account. The Holder is the person who opens, manages, and makes contributions into the account.

The Beneficiary is the person with the disability and recipient of the funds in the account.

The Holder of an RDSP can also be the Beneficiary, or the Holder can be different from the Beneficiary and manage it on their behalf.

Are there any age limitations?

You can open and make contributions into an RDSP account up until the year the beneficiary turns 59, however, the government will stop matching personal contributions with grants and bonds in the year the beneficiary turns 49.

The year that the beneficiary turns 60, they must start receiving regular payments called Lifetime Disability Assistance Payments (LDAPs) at least annually.

What benefits can an RDSP offer you?

Up to $90,000 in grants and bonds from the government
Tax deferral
No restrictions on how to spend the money
No restrictions on how to invest the funds in your account
Anyone can contribute to your RDSP, including friends, family, charities etc.
You can still receive your other government assistance benefits

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