What is an RDSP?
A Registered Disability Savings Plan (RDSP) is a government program designed for Canadian residents under 60, living with disabilities, receiving the Disability Tax Credit, and who hold a valid social insurance number. A parent or guardian can open an RDSP on behalf of a person with a disability if needed.
An RDSP is a matched savings plan with a $200,000 maximum lifetime contribution limit with no yearly minimum or maximum contribution. All funds in the plan are tax-sheltered and are not impacted by federal or most provincial social benefits. Not only that, through Canada Disability Savings Grants, the Government of Canada may contribute up to $3 for every $1 you put into the fund up to $70,000.
RDSPs at SCU can only be held in mutual funds.
Interested in exploring an RDSP? Fill out our contact form and we'll be in touch.