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Registered Disability Savings Plan (RDSP)

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The Registered Disability Savings Plan (RDSP) helps Canadians with disabilities and their families save for the future. If you are a Canadian resident under age 60 and are eligible for the Disability Tax Credit (Disability Amount), you may be eligible for an RDSP. Earnings accumulate tax-free, until you take money out of your RDSP. Parents or guardians may open an RDSP for a minor. With written permission from the holder, anyone can contribute to the RDSP.

Once you open an RDSP, you may apply for the Canada Disability Savings Grant and Canada Disability Savings Bond.

To learn more about how the RDSP works, see RDSP Overview.

Canada Disability Savings Grant

Through the Canada Disability Savings Grant, the Government deposits money into your RDSP to help you save. The Government provides matching grants of up to 300%, depending on the amount contributed and the Beneficiary’s Family Income. The maximum is $3,500 each year, with a limit of $70,000 over your lifetime.

Canada Disability Savings Bond

Through the Canada Disability Savings Bond, the Government deposits money into the RDSPs of low-income and modest-income Canadians. If you qualify for the bond, you could receive up to $1,000 a year from the Government, with a limit of $20,000 over your lifetime. Contributions do not need to be made to the RDSP in order to receive the bond.

Enhancements to the RDSP

As of January 2011, you are allowed to carry forward unused grant and bond entitlements for a 10-year period preceeding the opening of the plan. See Carry Forward Entitlements.

As of July 2011, the proceeds from a deceased parent’s or grandparent’s Registered Retirement Savings Plan, Registered Retirement Income Fund and Registered Pension Plan can be rolled over into the RDSP of a financially dependent child or grandchild with a disability. See Rollover Retirement Funds.

As of June 26, 2011, a new measure allows more flexibility for those with shortened life expectancies. See Withdraw Savings.

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RDSP Calculator

Long-term savings plan for people with disabilities

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Date Modified:
2012-03-14