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Westoba Credit Union


Registered Disability Savings Plan (RDSP)

What is it?

The RDSP, grant, and bond are an initiative of the Government of Canada to plan and save for the financial well-being of an individual. It is designed, over the long term, to provide financial security and reduce poverty for individuals with a disability.

Who is for?

A beneficiary who:

  • Is a resident of Canada when the plan is opened.
  • Has a valid Social Insurance Number (SIN).
  • Is under the age of 60.
  • Is eligible for the Disability Tax Credit (DTC).


  • Proceeds paid out of an RDSP do not affect eligibility for federal benefits such as the Canada Child Tax Benefit, the Goods and Services Tax credit, Old Age Security, or Employment Insurance.
  • All provinces and territories have partial or full exemption of RDSP assets and income. When receiving an income from their RDSP, the beneficiary will have little to no impact on their provincial benefits.
  • The lifetime contribution limit to a RDSP is $200,000, with no annual limit.
  • Investments in the RDSP grow tax free until redeemed.
  • The Canada Disability Savings Grant provides matching grants of 300%, 200%, or 100%, depending on the beneficiary’s family income and the amount contributed.
    • Maximum grant is $3,500 per year, and up to $70,000 lifetime.
  • The Canada Disability Savings Bond is paid by the Government of Canada in amounts up to $1,000 to low-income Canadians with disabilities. No contributions are required to trigger the bond. The lifetime bond limit is $20,000.

Download the Westoba Registered Disability Savings Plan – Fact Sheet.


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