RDSP: What You Need to Know about Registered Disability Savings Plans

October is RDSP Awareness month! Here at the Learning Disabilities Society, our mission is to provide equitable, affordable access to learning support for all students to navigate their school years. One way that families of our students can secure affordable learning support beyond their child’s school years is through a Registered Disability Savings Plan (RDSP). With an RDSP in place, we believe parents are better equipped to prepare for their child’s financial future.

What can an RDSP do for you?

The RDSP is a savings plan designed specifically for people with disabilities, including those with learning disabilities. This long-term savings plan helps the holder become financially prepared for the future. It is an incredibly rewarding plan: for every $1 contribution, the government will match up to $3, based on family income. The RDSP provides up to a maximum of $90,000.00 in matching grants and bonds without affecting your child’s eligibility for additional disability benefits.

An exciting feature of the plan is that anyone can contribute! Family, friends, community members, anyone who wants to support your child can do so. Another important feature is that an RDSP does not reduce any other disability benefits received by your child—now, or in the future. Once matured, the holder chooses how the money is spent. This provides a safety net for your child’s schooling, housing, or health expenses. Whatever comes up as necessary in your child’s life, they will have an extra level of financial security and independence.

How to start an RDSP:

  • You must already be receiving the Disability Tax Credit.
  • If you are not already receiving the Disability Tax Credit and need assistance setting it up, help is available with the Disability Alliance BC.
  • Go to your bank. All of Canada’s major financial institutions offer the RDSP.

Why you should start an RDSP today:

  • An estimated 500,000 people across Canada could benefit from an RDSP, but so far only about 200,000 plans have been opened.
  • Endowment 150: eligible people with disabilities can redeem a one-time $150 grant to contribute to their RDSP.

RDSP Resources to get started:

Free service for eligible families to learn about and apply for a Vancity RDSP:

More about #RDSPAwareness Month: 

More about RDSP at Vancity: & 

Apply for the $150 endowment:

Additional Information and helpful links: