Benefits & Rebates | Family & Child Benefits

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The Registered Disability Savings Plan (RDSP) is a long-term savings program designed to help Canadians with disabilities build financial security for the future.

Eligible beneficiaries may receive government grants and bonds that significantly increase the value of contributions made to the plan.

This guide explains how the RDSP works, who qualifies and why it is considered one of Canada’s most valuable disability-related financial programs.

RDSP: Quick Summary

The RDSP is a registered long-term savings plan.
Eligible individuals generally require approval for the Disability Tax Credit.
Government grants and bonds may be available.
Family members can contribute to the plan.
Contributions grow tax-deferred.
Financial institutions offer RDSP accounts.
The program is intended to support long-term financial security.
Rules and limits apply.

What Is an RDSP?

The Registered Disability Savings Plan is a savings vehicle that helps eligible Canadians with disabilities accumulate funds for future needs.

One of the program’s most significant advantages is the availability of government contributions through grants and bonds.

Who Is Eligible?

Individuals approved for the Disability Tax Credit.
Canadian residents with a valid Social Insurance Number.
Individuals meeting applicable age requirements.

Government Contributions

Program	Description
Canada Disability Savings Grant	Matching contributions based on eligibility.
Canada Disability Savings Bond	Government contributions that may not require personal deposits.

Why Is the RDSP Important?

The RDSP can help individuals and families prepare for long-term financial needs while benefiting from substantial government support.

How to Open an RDSP

Confirm Disability Tax Credit eligibility.
Choose a participating financial institution.
Open the account.
Review available grants and bonds.
Begin contributing if appropriate.

RDSP Frequently Asked Questions

Do I need the Disability Tax Credit?

Yes. Eligibility for the DTC is generally required.

Can family members contribute?

Yes. Family members and other authorized individuals may contribute.

What is the Canada Disability Savings Bond?

It is a government contribution available to certain eligible individuals.

Is an RDSP taxable?

Contributions are not tax deductible, but investment growth is tax-deferred.

Related Northbly Guides

Official RDSP Information

Visit the Government of Canada website to learn more about the Registered Disability Savings Plan and available grants and bonds.

Visit the Official RDSP Website

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