Registered Disability Savings Plan (RDSP)
Offered by Employment and Social Development Canada / Canada Revenue Agency
Federal long-term savings plan for people approved for the Disability Tax Credit, boosted by government grants and bonds.
The RDSP is a long-term savings plan that helps people with disabilities and their families save for the future. The government adds matching Canada Disability Savings Grants and (for lower-income families) Canada Disability Savings Bonds. Beneficiary must be approved for the Disability Tax Credit (DTC) first.
Eligibility
Beneficiary must be approved for the Disability Tax Credit, have a valid SIN, be a resident of Canada when the plan is opened, and be under age 60 (a plan can be opened until the end of the year the beneficiary turns 59).
How to apply
1. Get approved for the Disability Tax Credit (Form T2201).\n2. Open an RDSP at a participating financial institution (e.g. most major banks).\n3. Apply for the Canada Disability Savings Grant and Bond through the plan.