What is a Registered Disability Savings Plan (RDSP)?

The Registered Disability Savings Plan (RDSP) is a registered savings plan specifically designed for Canadians with disabilities and their families to save for a long-term financial needs.

The plan allows a person who is eligible for the federal disability tax credit to accumulate up to $200,000 in contributions on a tax-deferred basis.

Who is eligible?

 To qualify for an RESP, a beneficiary must:

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


As an incentive for parents to contribute to their child’s post-secondary education, the federal government offers two funding mechanisms.

  • Tax-sheltered earnings

    The money you contribute grows tax-free until is taken out.

  • Get government contributions

    The major benefit is that you still qualify for the great government benefits. The federal government matches up to 30% through grants and extra funding for low-income families. There are two funding programs to help you save: Canada Disability Savings Grant (CDSG) and Canada Disability Savings Bond (CDSB).

  • Easy access when you need it

    Withdrawals can be done for any purpose that benefits the person with disability.

Make the most out of your RDSP

Source: Canada Revenue Agency

Contact a 3i Financial Advisor today to see how an RDSP can help you save!

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