Long-term financial security for Canadians with disabilities
The Registered Disability Savings Plan (RDSP) is a powerful savings tool designed by the Canadian government to help individuals with disabilities and their families save for the future. It offers generous government grants and bonds that can significantly boost your savings — up to $90,000 in government contributions over your lifetime.
At Ourinsurenase, we help you understand, set up, and maximize your RDSP. Our advisors guide you through the entire process — from determining eligibility to opening the plan, claiming government grants, and managing your investments.
An RDSP is a registered savings plan similar to an RRSP or TFSA, but specifically designed for Canadians with disabilities. It allows you to save money on a tax-deferred basis while receiving substantial government contributions through grants and bonds.
Key features of the RDSP:
Canadians with disabilities often face significant financial challenges — higher living costs, potential loss of income, and ongoing care expenses. The RDSP is one of the most generous government programs available, yet many eligible Canadians don't take advantage of it because they don't know about it or find the process confusing.
Ourinsurenase makes it simple. We handle the paperwork, explain everything in plain language, and ensure you receive every dollar of government money you're entitled to.
The Canadian government contributes significant money to your RDSP
The government matches your contributions based on your family income:
The government contributes directly — no personal contribution required:
Confirm you qualify for the Disability Tax Credit (DTC) and are under age 60.
Apply for the Disability Tax Credit through CRA with form T2201, certified by your doctor.
We help you open the RDSP with a financial institution and choose your investments.
Make contributions and we ensure you receive all eligible government grants and bonds.
Receive up to $70,000 in grants and $20,000 in bonds over your lifetime.
All investment earnings grow tax-free until you withdraw the funds.
RDSP funds don't reduce most provincial disability benefits (PWD, ODSP, AISH, etc.).
Parents, grandparents, siblings, friends, and trusts can all contribute to your RDSP.
Withdrawals can start at any time, with rules designed for long-term stability.
Government contributions must remain in the plan for 10 years after the last contribution.
You must meet these requirements to open an RDSP
The Disability Tax Credit (DTC) is a non-refundable tax credit that helps people with disabilities or their supporting family members reduce the amount of income tax they pay. You must be approved for the DTC to open an RDSP. To apply, your doctor completes form T2201, which you submit to the CRA. We can help guide you through this process.
Over your lifetime, you can receive up to $70,000 in Canada Disability Savings Grants (matching your contributions) and $20,000 in Canada Disability Savings Bonds (no contribution required from you). That's up to $90,000 in government money. The exact amount depends on your family income and contribution amount each year.
No. The Canada Disability Savings Bond (CDSB) is paid directly into your RDSP by the government based on your family income — no personal contribution is required. If your income is $32,028 or less, you receive the full $1,000 bond per year, even if you contribute $0.
In most provinces, RDSP funds do NOT affect your provincial disability benefits. British Columbia (PWD), Ontario (ODSP), Alberta (AISH), and most other provinces have exempted RDSP assets and income from benefit calculations. However, we recommend checking with your specific provincial program to confirm.
You can withdraw money from your RDSP at any time, but there are rules to encourage long-term savings. Government grants and bonds must remain in the plan for at least 10 years after the last government contribution. Early withdrawals may require repaying some government contributions. Withdrawals are taxed as income in the year they are received.
The 10-year rule means that government grants and bonds received in the last 10 years must be repaid if you withdraw them from the RDSP. This rule encourages long-term savings. After 10 years from the last government contribution, you can withdraw without repaying. Personal contributions and their growth can be withdrawn at any time without penalty.
Yes! Anyone can contribute to your RDSP — parents, grandparents, siblings, friends, or even a trust. However, the grant and bond amounts are based on the beneficiary's family income (or their parents' income if under 18). The contributor gets no tax deduction for the contribution, but the growth is tax-deferred for the beneficiary.
If the beneficiary passes away, the RDSP must be collapsed within 60 days. Government grants and bonds received in the last 10 years must be repaid to the government. The remaining funds (personal contributions and investment growth) go to the beneficiary's estate or designated beneficiaries.
Absolutely. Parents or legal guardians can open an RDSP for a minor child who qualifies for the DTC. For beneficiaries under 18, grant and bond amounts are based on the family's household income. This is one of the best ways to build long-term financial security for a child with a disability.
Don't miss out on up to $90,000 in government contributions. Get a free consultation with our advisors.
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