Registered Disability Savings Plan (RDSP) – Canada.ca
The Registered Disability Savings Plan (RDSP) is a long-term savings plan to help Canadians with disabilities and their families save for the future. If you have an RDSP, you may also be eligible for grants and bonds to help with your long-term savings.
You should consider opening an RDSP if you have a long-term disability and are:
- eligible for the Disability Tax Credit (disability amount);
- under the age of 60 (if you are 59, you must apply before the end of the calendar year in which you turned 59);
- a Canadian resident with a Social Insurance Number (SIN); and
- looking for a long-term savings plan.
You may contribute any amount to your RDSP each year, up to the lifetime contribution limit of $200,000. With written permission from the RDSP holder, anyone may contribute to the RDSP.
Several financial organizations offer the RDSP, Canada Disability Savings Grant and Canada Disability Savings Bond. To open an RDSP, contact a participating financial organization to complete a registration form.