Registered Disability Savings Plan
The RDSP is designed to help Canadians with disabilities and their families save for the future. The RDSP provides long-term, tax-sheltered savings; eligible Canadians can receive up to $4,500 annually in grants and bonds through:
- The Canada Disability Savings Grant - a matching grant of up to 300%
- The Canada Disability Savings Bond - receive up to $1,000 a year
- A $150 contribution from Endowment $150 through Vancouver Foundation
An RDSP beneficiary must qualify for the federal disability tax credit. The plan may be opened by parents, guardians, or the beneficiary him/herself. There is no annual contribtuion limit, but the lifetime limit is $200,000. Grant and Bond money for past years going back to 2008 may be claimed by eligible recipients. Contributions can be made by anyone with the written permission of the plan holder. There is no impact on other government tax and disability benefits for BC beneficiaries.
Funds held in an RDSP can be invested in various products such as term deposits or mutual funds.For more information, please visit the Government of Canada website.