Registered Disability Savings Plan (RDSP)
Build financial security with tax-deferred growth and up to $90,000 in government support for eligible Canadians with disabilities.
Advantages of an RDSP
Consider an RDSP if you or a loved one is living with a disability and wants to build government-assisted, tax-deferred savings.
Tax-deferred growth
Build up savings faster, as earnings grow tax-free until the money is withdrawn.
Get free money
The Canada Disability Savings Grant (CDSG) matches your contributions up to a lifetime maximum of $70,000.
Government assistance
Low to moderate-income individuals may receive the Canada Disability Savings Bond (CDSB) up to $1,000 per year.
Worry-free payments
RDSP payments do not affect your eligibility for Old Age Security, Guaranteed Income Supplement, or Canada Pension Plan.
Flexible contributions
Contribute as much or as little as works for your family, up to a $200,000 lifetime limit.
Catch up on missed grants
Carry forward up to 10 years of unused grant and bond entitlements to future years.
How an RDSP works
Who can open an RDSP?
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.
The plan 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.
How much can I contribute?
The lifetime contribution limit for an RDSP is $200,000. There is no annual minimum or maximum — you can contribute as much or as little as you like each year, as long as you stay within the lifetime cap.
What are the government incentives?
- The Canada Disability Savings Grant (CDSG) is a federal government grant deposited directly into your RDSP. The amount you receive depends on your net family income and how much you contribute. The maximum lifetime incentive is $70,000.
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The Canada Disability Savings Bond (CDSB) provides money to low and moderate-income Canadians with disabilities. No personal contribution to your RDSP is required to receive it. The government will pay up to $1,000 per year, with a lifetime limit of $20,000.
How do withdrawals work?
There are two types of withdrawals from an RDSP:
- Lifetime Disability Assistance Payments (LDAPs). These are regular annual payments made to the beneficiary for life (or until the plan ends). LDAPs must begin by the end of the year the beneficiary turns 60.
- Disability Assistance Payments (DAPs). A one-time withdrawal the beneficiary can request at any time after the plan is established.
Importantly, RDSP withdrawals do not affect eligibility for federal benefits such as the Canada Child Benefit (CCB), GST/HST Credit, Old Age Security (OAS), or Employment Insurance (EI). Provinces fully or partially exempt RDSPs when calculating income assistance payments according to each province’s disability program.
Our helpful resources cover most of what you need to know about how RDSPs work and who can benefit from them.
RDSP by the numbers
$200,000
Lifetime contribution limit. Contribute at your own pace — there is no annual minimum or maximum.
Up to $70,000
Canada Disability Savings Grant (CDSG) — government matching based on net family income, up to a lifetime maximum.
Up to $20,000
Canada Disability Savings Bond (CDSB) — available to low and moderate-income individuals, with no contribution required.
10-year carry-forward
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.
Let’s discuss your RDSP options
We can help you get started with a RDSP over the phone or online, and you can visit us in person at a branch.
Call us
at 1‑8006168878
Book an appointment
to meet with us virtually
Visit us
at one of our branches