What is an RDSP?

The Registered Disability Savings Plan (RDSP)

Living with a disability can sometimes be an obstacle to someone’s financial security. An RDSP (Registered Disability Savings Plan) is a registered savings plan that allows someone to save money over a period of time while the beneficiary receives certain incentives.

This can make a difference as there are many benefits to help your money go further. This infographic outlines some of the key benefits.

What is the Registered Disability Savings Plan (RDSP)?

The Registered Disability Savings Plan (RDSP) is a plan that assists people with disabilities with long-term savings.

Benefits

Government contributions

The Canadian government may provide matching grants and bonds to the RDSP depending on family income.

Doesn’t impact government benefits

Contributions to an RDSP do not impact an individual’s eligibility for government benefits such as the CCB or EI.

Anyone can contribute

With permission of the plan holder, anyone who wishes to can contribute to the plan.

Tax deferral

Contributions grow on a tax-deferred basis and are taxed when withdrawn from the RDSP.

Flexibility

All withdrawals must be used for the beneficiary but the funds can be used for anything.