“The Registered Disability Savings Plan (RDSP) can add up to $3,500/year in free government grants. Here’s how it works in Canada.”
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RDSP — up to $3,500/year, free, from the government. Most Canadian families who qualify don’t even know this exists.
The Registered Disability Savings Plan is a long-term savings account for people with disabilities, and it comes with two major government incentives:
→ Canada Disability Savings Grant — the government matches your contributions, up to $3,500/year, depending on income and how much you contribute. Over a lifetime, that can add up to $70,000 in matching grants.
→ Canada Disability Savings Bond — for lower-income families, the government contributes money into the RDSP even with no contribution required from you, up to $1,000/year, $20,000 lifetime.
Who qualifies: anyone eligible for the Disability Tax Credit (DTC), under age 60, with a valid SIN, resident in Canada.
This money is meant to build long-term financial security — it’s not something that gets used up quickly, and many families who qualify simply never open the account because they don’t know the program exists.
If you or someone in your family has the Disability Tax Credit, it’s worth checking whether an RDSP is already set up.
#rdsp #familyprotection