RDSPs

RDSPs

In 2008 the Canadian Government introduced Registered Disability Savings Plans (RDSPs) to help Canadians with disabilities and their families save for the future. RDSPs can make it easier to accumulate funds by providing government grants and bonds, and by providing tax-deferred investment growth.

Some basics:

  • For every $1 put into an RDSP account, the federal government will match it (if your family income is below $95,259) with up to $3! This is the Canada Disability Savings Grant.
  • For people living on a low income (less than $31,120), the federal government will invest $1,000 each year for 20 years! This is the Canada Disability Savings Bond.
  • People living on an income between $31,120 and $47,630 can still receive a partial bond.
  • Anyone can contribute to an RDSP - family, friends, and even neighbours. This gives people who want to help, a way to do so!
  • RDSPs offer some of the best returns on investment available.
  • The RDSP is exempt from most provincial disability and income assistance benefits. The government will not claw this money back. (To find out how your province treats the RDSP, go to www.disabilitysavings.gc.ca)
  • There are no restrictions on how RDSP withdrawals are spent.
  • Annual contribution maximum is $10,500.

RDSPs are offered by our subsidiary, Growth Financial Corp., through our Licensed Financial Advisor and Member of the Financial Advisor's Association of Canada (Advocis®), Jason Truscott at the Creston Valley Mall, inside Creston Valley Insurance.
 

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