Autism Puzzle Piece Heart

Registered Disability Savings Plan (RDSP)

Many of us are worried about retirement, but when you add in the extra pressure of caring for someone you love living with a disability, many of us don't even know where to begin.

In January, 2008 the federal government launched the Registered Disability Savings Plan (RDSP) which helps families save for long term security for a person who is eligible for the disability tax credit.

Our son was diagnosed with Autism at the early age of 2 and fortunately we were able to get funding from the government for treatment, but that can quickly be taken away and is reduced significantly when he turns 6. Our son will live with this disability his entire life and we want to ensure we are able to care for him if he's not able to care for himself as he gets older.

Why work with DuMoulin Financial? We know first hand the struggles people go through when they have a child or family member with a disability. We work with Mackenzie Investments to create the best plan for your loved one.

Why Use a RDSP?

wheelchair disability
Why registered Disability Savings Plan

1. Access to Government Grants and Bonds: One of the main benefits of registering for a Disability Savings Plan (RDSP) is that it allows individuals with disabilities to access government grants and bonds. These grants and bonds can provide additional funds for long-term savings and can significantly increase the total amount saved in an RDSP.

2. Tax-Deferred Savings: Another major advantage of an RDSP is that it allows for tax-deferred savings. This means that any gains or income earned within the plan are not taxed until they are withdrawn from the plan. This allows individuals to save more money over the long-term as they are not paying taxes on their savings each year.

3. Flexibility in Contributions: An RDSP allows for both personal and family contributions, meaning that family members can also contribute to the plan on behalf of the individual with a disability. This provides more flexibility in saving and can help to build a larger pool of funds in the RDSP. Maximum life time contribution is $200,000.

4. Protecting Eligibility for Government Benefits: RDSPs are protected from affecting eligibility for government benefits such as the Disability Tax Credit and the Registered Disability Savings Plan is not counted as income for social assistance programs.

5. Long-Term Financial Planning: By registering for an RDSP, individuals with disabilities and their families can create a long-term financial plan for their future. The funds saved in the plan can be used to cover expenses that may arise in the future, such as medical costs, housing, and other disability-related expenses.

6. The RDSP can be contributed to till the individual turns 59.

7. Portable Plan: The RDSP is also portable, which means that if an individual moves to another province or territory within Canada, they can still access the same benefits and incentives offered by the plan. This makes it easier for individuals who may need to move for work or other reasons to continue saving in their RDSP.

Contact us today to set up an RDSP (Registered Disability Savings Plan) for you or your loved one. 

Contact Us

1508-1060 Alberni Street Vancouver, BC V6E 4K2


Tracey: info@ddfinancial.ca
 Paul: pdumoulin@ddfinancial.ca

Sat and Sun: Closed, Mon-Fri: 9 am-4 pm

Monarch Wealth Corporation