Your Registered Disability Savings Plan
(RDSP) is eligible to receive government assistance through two
financial programs, which can really help your savings grow
faster. Canada Disability Savings GrantContributions may be eligible for the Canada
Disability Savings Grant (CDSG). There are benefits from matching
grants of 100%, 200% or 300% — depending on your
family’s net income and the amount contributed
— up to a lifetime limit of $70,000, as shown in the
chart below. Grants will be paid into an RDSP up to the end of the
year in which the beneficiary turns 49. | Family Net Income*($) |
|---|
| Up to $83,088 | Over $83,088 |
|---|
300% on
first $500
(maximum of $1,500) |
100% on first $1,000
(maximum of $1,000) | 200% on next
$1,000
(maximum of $2,000) | | Example: A $1,500
contribution generates $3,500 CDSG | Example: A $1,000
contribution generates $1,000 CDSG |
Canada Disability Savings BondThe RDSP may also be eligible for the
Canada Disability Savings Bond (CDSB) — which pays up to
$1,000 per year — whether or not RDSP contributions are
made. Bonds will be paid into an RDSP up to the end of the year in
which the beneficiary turns 49, and up to a lifetime limit of
$20,000. The income requirements are explained in the following
chart. | Family Net
Income*($) |
|---|
| Up to
$24,183 | Between $24,183
and $41,544 | Over
$41,544 |
|---|
$1,000 per year |
Portion of $1,000 based on a formula |
$0 |
As you can see in the next chart, these programs can provide
significant assistance in growing your savings every year. | | Family Net
Income*($) |
|---|
Up to
$24,183 | $24,183 -
$41,544 | $41,544 -
$83,088 | Over
$83,088 |
|---|
| CDSG
Matching Rates | | | | | | 300% on the
first $500 | $1,500 | $1,500 | $1,500 | – | | 200% on the
next $1,000 | $2,000 | $2,000 | $2,000 | – | | 100% on the
first $1,000 |
– |
– |
– | $1,000 | | CDSB | $1,000 | $500 |
– | – | | Total
Assistance | $4,500 | $4,000 | $3,500 | $1,000 |
Contact us todayIf you would like to find out more about
enhancing your financial success over the long term, please
contact the Investment Advisor nearest you to arrange a meeting
or call 1-866-280-2022. |
