Registered Disability Savings Plan (RDSP)
Long-term savings for people eligible for the Disability Tax Credit, with government matching grants and bonds.
RDSPs help families save for the long-term financial security of a person with a severe and prolonged impairment. Government grants and bonds can significantly boost savings when contribution rules are followed.
Discuss withdrawals and impacts on provincial disability benefits with a qualified advisor.
- Confirm Disability Tax Credit (DTC) eligibility for beneficiaryOften required
RDSP beneficiary must be DTC-eligible (exceptions for certain estates).
- Open an RDSP with a financial institutionOften required
Holder can be the beneficiary or, for minors, a parent/legal representative.
- Canada Disability Savings Grant matches contributions according to family income and schedule.
- Canada Disability Savings Bond may be paid for low-income beneficiaries without contributions.
- Lifetime contribution limit and grant/bond limits apply; repayments may occur if DTC eligibility is lost in some cases.
- Beneficiary must have a valid SIN and be resident in Canada when the plan is opened.
- Only one RDSP per beneficiary at a time.
- Withdrawals have taxable and non-taxable portions; disability assistance payments follow rules to preserve other benefits.
Disclaimer
This guide is for general information only. Tax and benefit rules change. Always confirm current requirements with the Canada Revenue Agency, Service Canada, or a qualified financial or tax professional before making decisions.