Registered Disability Savings Plan

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Registered Disability Savings Plans (RDSPs) can provide a long-term savings option for eligible individuals living with disabilities in Canada. Savings grow in a tax deferred environment and the plans are eligible for Government of Canada grants and bonds.

Individuals who are affected by a severe disability and are eligible for the Disability Tax Credit may qualify for an RDSP. Parents or guardians may open an RDSP for a child under the age of majority. Children’s Aid Societies may act as account holders for Crown wards in their care – until their 18th birthday, the Crown ward is considered the Beneficiary of the plan. With written permission from the plan holder, anyone may contribute to the RDSP.

A Registered Disability Savings Plan is a valuable savings tool to consider when planning ahead for eligible disabled children and youth in care. A small annual contribution can result in up to $4500 per year in federal grants and bonds being paid into the plan. There is no limit to to annual contributions into the plan, but there is a lifetime contribution limit of $200,000.

Learn more about RDSPs: