Registered Disability Savings Plan

The Registered Disability Savings Plan (RDSP) has been devised to benefit Canadians with a severe or prolonged disability.

An RDSP beneficiary must —

• Be eligible to receive the Disability Tax
  Credit (DTC)
• Be a Canadian resident under the age of 60 at the time contributions are made
• Have a valid Social Insurance Number (SIN)

To be an RDSP Plan Holder —

• The person with the disability can open an RDSP and be sole owner if they have reached the age of majority and can legally manage their finances
• If the beneficiary is a minor or not legally competent, a qualified plan holder, who must have a valid SIN or Business Number (for public departments, agency or organization) but does not have to be a Canadian citizen, can be —
  • A legal parent, guardian, tutor or curator of the beneficiary
  • An individual who is legally authorized to act on behalf of the beneficiary
  • A public department, agency or organization that is legally authorized to act on behalf of the beneficiary

To be a contributor to an RDSP —

• A contributor can be the plan holder, as well as friends and family who have the written permission of the plan holder

For more information, or to open a Registered Disability Savings Account, contact your Financial Planner.