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Your Money

Registered Disabilities Savings Plan

The RDSP is a savings plan first introduced by the Federal Government in 2008. This is the first plan of its kind in the world and is designed to help people living with disabilities to save and become more financially secure.

Below are some of the more common questioned asked:

Q. Who qualifies for the RDSP program?

A. Any Canadian resident under the age of 60 who have their Disability Tax Credit with The Canada Revenue.

Q. What are the benefits of the program?

A. There are $90,000 in government grants and bonds available over a 20 year period for those who qualify. As well, contributions grow tax deferred and are taxed at the plan holders marginal tax rates. Plus when you start making withdrawals from the plan, they do not impact any of your BC or Federal financial assistance programs.

Q. Are there any restrictions when I withdrawal the funds?

A. Yes. The Federal Government wants to ensure that this is a long term savings plan, so there are some restrictions on when you can withdraw the funds if you received government bonds and grants. However, if there are no Government contributions then withdrawals are not restricted.

Q. Are there restrictions on what I can spend my savings on?

A. No, you can spend the money on anything you want!

If you live with a disability, care for someone who does or are an advocate, you should take the next step and find out more about the RDSP program. The Savings and Estate Planning value to this plan are tremendous!

For more information, or to meet with an RDSP Specialist please call 778-478-9759 or e-mail [email protected]

The information presented as a general source of information only and is not intended as a solicitation to buy or sell investments, or life insurance, and should not be taken as providing, investment, financial, legal, accounting or tax advice. All services provided through NorthBay Financial Services. Mutual funds are provided through Sterling Mutuals Inc. Insurance is provided through multiple carriers. The opinions expressed are those of the authors and do not necessarily reflect the views or opinions of Sterling Mutuals Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Please read the prospectus before investing. Mutual funds and Segregated funds are not guaranteed, their values change frequently and past performance may not be repeated. 



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About the author...

Kevin J. Zakus has over a decade of experience in Financial and Investment Planning. He has a diverse practice which includes individuals and families starting the financial planning process, to established individuals and corporations requiring more complex planning.

Most recently Kevin served as a Branch Manager and Financial Consultant with a National Financial Planning Firm in their Calgary and Kelowna Offices. In 2006 Kevin and his family relocated to Kelowna where he continues to build his practice and spend time with his family.

When he is not meeting with clients, Kevin and his wife Julie, try to keep up with their four children and the many activities they are involved in. When they aren't running kids from one event to another, they enjoy spending time boating on Okanagan Lake, travelling, horseback riding and touring local wineries.

Areas of Practice include: Investment, Retirement, Insurance, Estate and Tax Planning.

Email: [email protected]







The views expressed are strictly those of the author and not necessarily those of Castanet. Castanet presents its columns "as is" and does not warrant the contents.


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