CornerstoneCU - Registered Disability Savings Plans (RDSP)

Registered Disability Savings Plan

A long-term savings plan designed to help individuals with disabilities. The government contributes up to $3,500 per year in grants and $1,000 per year in bonds, depending on income and contributions. Investments grow tax-deferred, allowing savings to build over time.

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Important RDSP Reminders

With retroactive Grants & Bonds, you may qualify for up to 10 years of past entitlements if you were eligible for the DTC.
Grant and Bond amounts are based on your and your partner’s income.
Grants and Bonds are available until December 31 of the year you turn 49.
Open and contribute to your RDSP before age 49 to receive full benefits.
When withdrawing, wait 10 years after the last Grant/Bond to avoid repayments.
RDSP savings won’t affect other federal or provincial supports.

Additional Government Funding for the Registered Disability Savings Plan

The Canada Disability Savings Bond (CDSB)

The CDSB helps low- and modest-income families save for a person with a disability—no contributions required.

The government deposits up to $1,000/year, to a $20,000 lifetime max.
Full or partial bond amounts depend on family income.
Must be a Canadian resident, have a SIN, qualify for the Disability Tax Credit, and meet income requirements.

The CDSB is a simple, effective way to grow RDSP savings—especially for families with limited means.

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Canada Disability Savings Grant (CDSG)

The CDSG boosts RDSP savings with government matching contributions.

The government matches up to 300% based on family income and contribution amount.
Get up to $3,500/year, with a $70,000 lifetime max.
Must be a Canadian resident, have a SIN, and qualify for the Disability Tax Credit (DTC).

The CDSG is a powerful way to grow long-term savings for individuals with disabilities.

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Frequently Asked Questions

No, RDSPs are beneficial for individuals with all income levels. Low to moderate income beneficiaries may receive additional government grants and bonds.

No, RDSPs are available to Canadians residents who quality for the Disability Tax Credit (DTC), which permits a wide range of disabilities.

Funds withdrawn from an RDSP can be used for any purpose.

Contributions to an RDSP can be made by anyone - parents, family and friends.

You may be eligible to receive grant and bond from up to the previous 10 years if you were approved for the DTC in any of those years.

You can receive RDSP payments either by:

Disability Assistance Payment (DAP) - a lump sum payment that may be requested an any age.
Lifetime Disability Assistance Payment (LDAP) - regularly scheduled payments that once started must continue for life. These payments must begin by the end of year the beneficiary turns 60 but can be requested sooner.