What is the RDSP

What is the Registered Disability Savings Plan?

The Registered Disability Savings Plan is a long-term savings plan, created in 2008 by the federal government, to help people with disabilities and their families save for the future.

Depending on income and the amount personally contributed to an RDSP, the government will contribute as much as $4,500* each year to a maximum of $90,000 over a person’s lifetime.

Many of our clients contribute $1,500 each year and receive a matching government RDSP Grant contribution of $3,500.

In addition to the Grant, the government will contribute up to $1,000* per year as an RDSP Bond. The Bond is based solely on income. A personal contribution is not needed to collect the Bond.

Confusing? We sit down with each new client to explain how the RDSP works and if it makes sense for you.

For a consultation, please contact us at 1.866.548.3888 or email rmalis@monarchwealth.ca.


* Government contributions could be even greater, if the person with the disability is eligible for “carry forward” amounts. If the person was eligible in previous years but did not have an RDSP account or did not make contributions in those previous years, they may be able to collect  government contributions, retroactively.