Fact Sheet: Registered Disability Savings Plan

Official title: Registered Disability Savings Plan – Helping Canadians with Disabilities and Their Families Save for the Future

If you are a Canadian resident who qualifies for the Disability Tax Credit (Disability Amount), you may also be eligible to open a Registered Disability Savings Plan (RDSP) and receive money from the Government of Canada in the form of grants and bonds to help you save for the future.

The RDSP is a long-term savings plan that must be opened before the end of the calendar year in which you turn 59. Earnings accumulate tax-free until money is taken out of the RDSP Footnote 1 . There is no limit to how much you may contribute each year, but there is a lifetime contribution limit of $200,000.

Parents or guardians may open an RDSP for a child under the age of majority. With written permission from the RDSP holder, anyone may contribute to the RDSP.

To help you or a loved one save, the Government of Canada will pay the following into your RDSP:

  • matching grants of up to $3,500 per year, depending on the amount contributed and your family income. The maximum government grant contribution is $70,000 over your lifetime. Matching grants are available until the end of the calendar year in which you turn 49.
  • bonds of up to $1,000 per year for low-income and modest-income beneficiaries. No contributions are necessary to receive the bond. The maximum government bond contribution is $20,000 over your lifetime. If you qualify, bonds will be paid into your RDSP until the end of the calendar year in which you turn 49.

Money paid out of an RDSP does not affect eligibility for other federal benefits such as the Canada Child Tax Benefit, the Goods and Services Tax credit, Old Age Security or Employment Insurance. Also, all provinces and territories have exempted RDSP income and assets—either in part or in full—for the purpose of assessing eligibility for provincial and territorial programs and services.

The RDSP, the grant and the bond are available to Canadians across the country through participating financial institutions.

For a list of participating financial institutions, and for more information on the RDSP, the grant and the bond:

  • Call: 1 800 O-Canada (1-800-622-6232)
  • TTY: 1-800-926-9105
  • Email us

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Footnote 1

Investment income earned in an RDSP may be exempt from tax if it is withdrawn from a plan that was opened through a financial organization on reserve. However, grants and bonds remain taxable. Please contact the Canada Revenue Agency (CRA) at 1-800-959-8281 for more information.

Return to footnote 1 referrer

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