Ask the Disability Services Expert – Brandon Thomas

disability servies expert

Ask the Disability Services Expert – Brandon Thomas

The RDSP (Registered Disability Savings Plan) is a savings plan that benefits people with disabilities in saving for their future financial needs.

The RDSP combines individual or family contributions with  government grants. The RDSP can grow into a significant asset for the person with a disability. Anyone can contribute to an RDSP- family, friends, neighbours… it gives people who want to help a way to do so!

Once an RDSP is opened, any $1 that is deposited could be matched by the government up to $3 (if your family income is below $87,123). For example, if $1500 is deposited in an RDSP, the government could match with up to $3500!  For people living on a low-income (less than $25,356), the government will put in $1000 each year for 20 years! There is no annual  contribution limit required. To qualify, the Individual with the disability must be less than 60 years old, be eligible for the

Disability Tax Credit, have a Social Insurance Number, and open and contribute to the plan before their 59th birthday. If you are receiving AISH, you would be eligible. When the beneficiary turns 60 the RDSP money can be used for any purpose for the benefit of the person with the disability. They can choose what to do with the money – there are no restrictions on how it can be spent!

The deadline to contribute for this tax year is December 31, 2015.

Canada’s major financial  institutions are all offering the RDSP.

Learn more about RDSP at or phone  1-844-311-7526.