The Registered Disability Savings Plan (RDSP) is a long-term registered savings plan to assist people with disabilities save for their future financial security.
Grow an RDSP to benefit you or a disabled loved one.
Choose your investments
Choose one of six pre-assembled CompassTM portfolios, or build a custom mutual funds portfolio with assistance from one of our experts.
Benefit from tax perks
Although the contributions you make are not tax deductible, the government grants and bonds paid into the plan, as well as the RDSP earnings continue to grow on a tax-deferred basis until withdrawals are made from the plan.
Enjoy government incentives
In addition to your own contributions to the plan, the Government of Canada will provide the Canada disability savings grant (grant) and the Canada disability savings bond (bond) to eligible beneficiaries.
Find the RDSP investment that's right for you.
Frequently Asked Questions
Assets and income from an RDSP will not affect your ability to receive government disability benefits.
The Canada disability savings grant is a matching grant from the federal government based on contributions made to the RDSP and family income levels. The maximum amount of matching grant that can be received for one year is $3,500 and $70,000 over the beneficiary's lifetime.
The Canada disability savings bond is money the federal government contributes to RDSPs of low and modest-income Canadians. The amount of the bond is determined by the beneficiary's family income. Unlike grants, contributions are not necessary to attract the bond. The annual limit for the bond is $1,000 and the lifetime limit is $20,000.
Beneficiaries of an RDSP must:
- Be eligible for the Disability Tax Credit (DTC) as defined in the Income Tax Act (Canada).
- Have a Social Insurance Number (SIN).
- Be a resident of Canada when the plan is opened and when each contribution is made.
- Be under age 60 when the plan is opened, since contributions cannot be accepted after the end of the year the beneficiary turns 59.
Also, the beneficiary should ensure tax returns have been filed for the previous two years in order to achieve the best possible grant and bond contribution. In the case that the beneficiary is a minor, the tax returns of the primary caregiver are used.
The holder of an RDSP can be:
- If the beneficiary is under the age of majority the holder would have to be the beneficiary's legal parent or legal trustee.
- If the beneficiary is contractually competent – the beneficiary has to be holder.
- If not contractually competent – the legal trustee that has been granted a Trusteeship Order under The Alberta Adult Guardianship and Trusteeship Act has to be holder.
- If the beneficiary’s contractual competency is in doubt a Qualifying Family Member, either a spouse or parent, would have to be holder.
A plan holder is free to authorize other people to contribute to the RDSP.
Yes. You can only contribute to an RDSP until the end of the year the beneficiary turns 59.
Government grants and bonds are only paid until the plan until the end of the year the beneficiary turns 49.
The year the beneficiary turns 60, regular withdrawals in the form of disability assistance payments (DAPs) must be made, though the remaining balance may stay invested.
Mutual Funds and other securities are offered through ATB Wealth. ATB Wealth is a trademark of ATB Financial. ATB Wealth consists of a range of financial services provided by ATB Financial and certain of its subsidiaries. ATB Investment Management Inc., ATB Securities Inc., and ATB Insurance Advisors Inc., are individually licensed users of the registered trade name ATB Wealth. ATB Securities Inc. is a member of the Canadian Investor Protection Fund and Investment Industry Regulatory Organization of Canada.
Compass is a trademark of ATB Financial.