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​Registered Disability Savings Plan (RDSP)

Canadians with disabilities can receive up to $90,000 in government grants and bonds

At FirstOntario, we recognize the financial inequalities many people with disabilities face in Canada. Together with your Concentra Trust, we’re proud to offer the Registered Disability Savings Plan (RDSP).

Consider an RDSP if you or a loved one are living with a disability and are looking for a way to save for long-term, financial security. This government assisted and tax-deferred registered savings vehicle is another tool available to help secure the financial future of Canadians with disabilities.

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Plan benefits

From tax advantages to generous government incentives, the RDSP can bring greater financial stability – and peace of mind.

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Tax-deferred growth

Build up savings faster, as earnings grow tax-free until the money is withdrawn.

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Government assistance

The Canada Disability Savings Grant and the Canada Disability Savings Bond offer financial supports that can really add up over time.

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Worry-free income payments

Income payments from RDSPs do not affect income-tested federal government programs, including Old Age Security, Guaranteed Income Supplement and Canada Pension Plan.

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Financial security

Gain independence and peace of mind from a more secure financial future.

RDSP by the numbers

Designed for long-term tax-deferred growth, an RDSP can grow fast when you make full use of available grants and bonds.

$200,000 lifetime contribution limit

You can contribute at your own pace, with no annual limits, up to a lifetime maximum of $200,000.

Up to $70,000 Canada Disability Savings Grant (CDSG)

Depending on net family income, the government will match contributions up to a lifetime maximum of $70,000.

Up to $20,000 Canada Disability Savings Bond (CDSB)

For low to moderate income individuals, the government will contribute up to $1,000 annually and up to a lifetime maximum of $20,000.

10 years carry-over of CDSG & CDSB

If you were eligible for the DTC in the previous 10 years, but did not contribute to or open an RDSP, you can catch up on grants and bonds available for the years you qualified.

Eligibility

To qualify for an RDSP, the beneficiary must:

  • Be eligible for the Disability Tax Credit (DTC)
  • Have a valid Social Insurance Number
  • Be a Canadian resident
  • Be under 60 years of age

A holder opens and manages the RDSP and can also be the beneficiary, if they are an adult and legally able to enter into a contract. Otherwise, a parent, spouse, common-law partner, sibling, or legal guardian can be the holder. The beneficiary receives the RDSP funds.

Here are some more resources to help

RDSP Fact Sheet

RDSP Checklist

RDSP Reference Guide

We’re here to help build a secure financial future

Whether you simply have questions or wish to get started, we’ll be with you every step of the way.

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