The Registered Disability Savings Plan (RDSP) is a long-term savings plan to help Canadians with disabilities and their families save for the future.
Contributions to RDSPs may be supplemented by a Canada Disability Savings Grant(Maximum $70,000), the Government of Canada provides matching grants depending on the amount contributed and the beneficiary's family income and a Canada Disability Savings Bond(Maximum $20,000) to low-income and modest-income Canadians. No contributions are required to receive the bond. Grants and bonds are great incentive for disabled persons and their families. The beneficiary of the RDSP is the person who will receive the money in the future. The purpose of the Government is to encourage long term savings through Registered Disability Savings Plans (RDSPs) to help people with severe and prolonged disabilities and their families save for the future.
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