Save for your future – RDSP

The Registered Disability Savings Plan (RDSP) is a long-term savings plan that helps Canadians with disabilities and their families save for the future. By opening an RDSP and contributing, you could qualify for up to $90,000 from the Government of Canada.

If you, your family or your friends contribute to an RDSP, you could qualify for a Canada Disability Savings Grant of up to $3,500 a year. The Government will deposit the Grant amount into your RDSP automatically after a contribution is made.

The Government will deposit a Canada Disability Savings Bond of up to $1,000 a year into the RDSPs of low-income and modest-income Canadians. You do not need to contribute money to receive the Bond!

Build your savings – The Canada Disability Savings Bond
The Bond is money that the Government deposits into the RDSPs of low-income and modest-income Canadians with disabilities. If you have an RDSP and are eligible for the Bond, the Government will put up to $1,000 a year into your RDSP—up to $20,000 over your lifetime.

To apply for the Bond, you need to open an RDSP with a participating financial organization. You do not need to put money into an RDSP to get the Bond. If your annual family income is $32,797 or lower, you could get $1,000 per year. If your annual family income is between $32,797 and $50,197, you could still be eligible, but for a lower amount. These income amounts change each year based on the rate of inflation.

You can apply for the Bond up until December 31 of the year you turn 49. A participating financial organization must receive your Bond application by December 31 of that year.

Contributing to an RDSP
Anyone with the written permission of the person
who manages the RDSP can put money into it, up until
December 31 of the year you turn 59. There is no annual contribution limit, but there is a lifetime contribution limit of $200,000. Grants and Bonds you receive from the Government, and any interest earned do not count toward the contribution limit.