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Registered Disability Savings Plan (RDSP)

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Did you know...

…that roughly 80 percent of parents who are entitled to a Disability Tax Credit do not apply for a Registered Disability Savings Plan (RDSP) and the free money that accompanies this program? This amounts to over 169,000 Canadian children, ages 0 to 18, that do not get funding to which they are entitled. The dollar amount to children is staggering, starting at $50,000 per child, and it only goes up from there.
Team Kovalchuk - William Chris Kovalchuk, Martine Pharand, William Kenneth Kovalchuk, Sophie Emond
Team Kovalchuk L-to-R: Chris Kovalchuk, Martine Pharand, William Kovalchuk, Sophie Emond.


Established in 1996, Claret has a fiduciary responsibility to our clients, always acting ethically in their best interests. If you’re interested in speaking to someone about your RDSP options, fill in the form below and Bill Kovalchuk or Chris Kovalchuk will get back to you:

More information about the RDSP:

A registered disability savings plan (RDSP) is a savings plan that is intended to help parents and others save for the long-term financial security of a person who is eligible for the disability tax credit (DTC).

FAQ: Can I roll over money from my RRSP into an RDSP?

Yes! Primary caregivers can “roll” up to $200,000 of their Registered Retirement Savings Plans or Registered Retirement Income Fund to a Registered Disability Savings Plan. This immediately saves roughly up to $100,000 of income tax payable due now. Next, it allows the $200,000 to continue to compound tax-free. At just 5% per year, the funds will double in 14 years and triple in 23 years to over $600,000.

FAQ: How much money will the government commit to my RDSP plan and how much do I need to put in to match this contribution?

As a broad guideline for families with an income of less than $31,711, the government will commit $1,000 per year for 20 years. At 5% this will compound to over $50,000 in 30 years. And you do not make any contributions.

For families with an income of less than $95,000, willing to deposit $1,500 into an RDSP, the government will contribute $3,500 up to a lifetime maximum of $70,000. At 5%, this can easily compound to more than $500,000.

And for families with an income greater than $97,069, the government will match $1,000 for the first $1,000 deposited per year in an RDSP, up to a maximum of 49 years. At 5%, this can easily compound to more than $400,000.

Registered Disability Savings Plan (RDSP) by the numbers:

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