Registered Disability Savings Plan (RDSP)

Do you have a disabled family member that will need long-term medical care? A Registered Disability Savings Program can help your family to save money, obtain government grants, and pay for the needs of your family member.

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A registered disability savings plan (RDSP) is a great way for families with disabled family members to save up money to pay for the future health care needs for the disabled family member. The Canadian government provided significant grants & bonds to assist you. If you set up an account you may be eligible to obtain up to $90,000 in government grants & bond so you can grow your account.


An RDSP is a tax-sheltered personal savings plan that is available if the beneficiary qualifies for the disability tax credit. To qualify for the disability tax credit the beneficiary must have a significant physical or mental impairment. A medical practitioner must certify the application form and the form needs to be sent in to CRA for approval.


RDSPs can hold a variety of investments, most commonly mutual funds, GIC’s stocks, bonds or other marketable securities like ETF’s.


The grants offered by the Canadian Government will vary depending on the beneficiary’s family income.

Want to learn more about RDSPs and find out what they can do for you? Talk to one of our financial planners to find the right RDSP for your needs.

Let’s look at an RDSP example:

Jim and Carol have a 20 year old daughter named Jessica with a disability. They are concerned that Jessica will need money to fund her future needs when they are gone. Jessica is able to work but earns a modest income. They set up an RDSP and plan to deposit $1,500/year into the plan. This will allow them to get the maximum grants available.

If the RDSP earns an average of 6% per year the RDSP account will have over $700,000 in it when Jessica turns 60. This is a great opportunity for the family to plan for Jessica’s future needs by using a program that utilizes existing government programs to their benefit.

RDSP Calculator

You can use this RDSP calculator to see how an RDSP can work for you. Our Certified Financial Planners would also be happy to answer any of your questiosn and help you to set up an RDSP for your family.
Last updated Mar 15, 2019