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Registered Disability Savings Plan (RDSP)

Building peace of mind and a secure financial future for Canadians with disabilities and their families.

What is an RDSP?

An RDSP is a government program designed to help Canadian residents under the age of 60 who are living with disabilities save for future financial needs. A parent or guardian can also open an RDSP on behalf of a person with a disability, if needed.

Income payments from RDSPs don’t affect Old Age Security, Guaranteed Income Supplement, and the Canada Pension Plan, and in Manitoba, the provincial government fully exempts income from an RDSP when determining eligibility for social assistance programs.***

RDSP features you’re sure to enjoy

Enjoy flexible savings options

Choose from a variety of investment options within your RDSP to suit your savings goals.

Access government bonds and grants

Access funds through the Canada Disability Savings Grant and the Canadian Disability Savings Bond to increase your savings.

Your savings are tax sheltered

Save for the future without paying tax on the earnings.

Automate your contributions

Automatically transfer funds to your RDSP monthly so you can save without even thinking about it.

Variable savings

Choose this competitive interest, variable-rate savings option while you decide the best way to invest your funds.

Features
  • Earn interest right from dollar one 
  • Interest calculated on minimum daily balance and paid annually on December 31
  • Deposits are guaranteed 100% by the Deposit Guarantee Corporation of Manitoba*

GICs

Choose a term length that works for you and earn a guaranteed rate of return.

Features
  • Choose from convenient 1- to 5-year terms with a minimum investment of $500
  • Interest is paid annually and can be compounded (added to the GIC) or paid out to your account
  • GICs are non-redeemable 
  • Tiered interest rates start at $100,000 and are paid on the entire balance
  • Deposits are guaranteed 100% by the Deposit Guarantee Corporation of Manitoba*

Mutual funds

Mutual funds are a good way to diversify your savings portfolio and you can benefit from our knowledgeable advisors and professional investment management to meet your financial goals.

Features
  • Choose from a broad assortment of professionally managed mutual funds**
  • Diversification for a portfolio that’s custom tailored to your needs and risk tolerance
  • Convenient and simple way to invest in a variety of securities

Getting to know RDSPs

RDSP eligibility
You can open an RDSP and be the plan holder if you:
 
  • Qualify for the Disability Tax Credit
  • Are a person with a disability who has the capacity to manage your finances
  • Are over 18, and under the age of 60
  • Have a valid social insurance number (SIN)
  • Are a Canadian resident when the plan is opened

Who can open an RDSP on behalf of a person with a disability?
 
  • A legal parent of a child with a disability who has not reached the age of majority
  • A guardian or other representative who is legally authorized to act on behalf of a person with a disability
Government RDSP contribution programs
The federal government will match your RDSP contributions through the Canada Disability Savings Grant (CDSG) and the Canadian Disability Savings Bond (CDSB), providing an exceptional return on your investment. An RDSP has a $200,000 maximum lifetime contribution limit, with no annual minimum or maximum requirements. 

Through the CDSG, the Government of Canada may contribute up to $3 for every $1 you put into the fund up to a maximum of $70,000. In addition, through the CDSB, the federal government will contribute up to $1,000 annually for 20 years to a lifetime maximum of $20,000.

Try your own numbers, and see how much your money can grow, using the Government of Canada’s RDSP savings calculator.
Disability payment plans
You must begin receiving payments from your RDSP the year you turn 60 or you may opt for a lump sum payment. Choose from the following plans:
 
  • Lifetime Disability Assistance Payments: Disability assistance payments from your RDSP that begin before the end of the year in which you turn 60. You can choose the payment frequency based on an annual withdrawal limit, and payments will continue until the funds in the plan are depleted, or upon your death.
 
  • Disability Assistance Payments: A singular payment from your RDSP to you, or upon your death, to your estate. A singular payment can be requested at any time and may consist of contributions, grants, bonds, proceeds from rollovers, and income earned in the account.

Tips & tools

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See how much more you can save

Explore how the CDSG and CDSB can supercharge your RDSP over time.
See our infographic
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Receive investing advice

Our Insights & Advice page includes plenty of great articles to help you make the most of your investments.
Read our investing articles

RESP rates

Account
Interest Rate
RESP / RDSP (variable) 2.85%
GIC (RESP / RDSP)
12-month 4.25%
24-month 4.35%
36-month 4.55%
48-month 4.60%
60 month 4.85%

*Includes all savings and chequing accounts, RRSPs, RRIFs, TFSAs, and GICs. 
**Mutual funds and related financial planning services are offered through Credential Asset
Management Inc. Mutual funds, other securities and securities related financial planning services are offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc.
***Effective as of November 18, 2022, and is subject to change.
Unless otherwise stated, mutual fund securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions. 

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