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Build long-term security
for the future.
GIC Specials
3.60% 18-month
3.65% 30-month
Kickstart your next short-term savings goal.
Offers end May 31, 2026.
A Registered Disability Savings Plan (RDSP) is designed to help individuals with disabilities build long-term financial security. Contributions grow tax-deferred, and the account may qualify for government support such as the Canada Disability Savings Grant and Canada Disability Savings Bond.
With the right plan in place, an RDSP can help create future income and greater peace of mind.
To qualify, the beneficiary must be approved for the Disability Tax Credit and have a valid Social Insurance Number. Contributions can be made until the end of the year they turn 59.
Contributions may qualify for up to $3,500 per year through the Canada Disability Savings Grant, plus up to $1,000 annually through the Canada Disability Savings Bond.
There is no annual contribution limit, but there is a $200,000 lifetime RDSP contribution limit. Government grants and bonds have separate lifetime maximums.
Who can open an RDSP?
An RDSP can be opened for a Canadian resident under age 60 who qualifies for the Disability Tax Credit. A parent, guardian, or legal representative can open and manage the account on their behalf.
An RDSP is designed to support long-term financial security and future income for individuals with disabilities.
An RDSP can hold a range of investments, including high interest savings accounts, GICs, stocks*, bonds*, ETFs*, mutual funds*, or self-directed investments**. The right mix depends on your timeline, goals, and how involved you want to be.
Advisor Managed Investing
Advisor-Managed Investing offers guidance and a plan built around your goals. A Mainstreet advisor works with you to select and monitor investments, such as mutual funds, and adjusts your strategy as your needs evolve.
Qtrade Direct Investing®
Qtrade Direct Investing gives you the flexibility to manage your RDSP independently, with tools and resources to help you make informed decisions.
*Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Unless otherwise stated, mutual funds, other securities and cash balances are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions.
**Online brokerage services are offered through Qtrade Direct Investing, a division of Aviso Financial Inc.
RDSPs and RRSPs both support long-term savings, but they’re designed for different needs. Understanding how they compare can help you choose the option that best fits your situation and long-term goals.
|
RDSP |
RRSP |
|
|---|---|---|
|
Purpose |
Long-term financial security for individuals with disabilities. |
Saving for retirement. |
|
Eligibility |
The beneficiary must qualify for the Disability Tax Credit and be a Canadian resident under age 60. |
Canadian residents with earned income can contribute until age 71. |
|
Contribution limits |
No annual contribution limit, with a $200,000 lifetime contribution maximum. |
18% of previous year’s earned income, up to the annual government maximum. |
|
Tax treatment on contributions |
Contributions are not tax-deductible. |
Contributions reduce taxable income in the year they are made. |
|
Tax treatment on withdrawals |
Government grants, bonds, and investment growth are generally taxable to the beneficiary when paid out. |
Withdrawals are taxed as income. |
|
Contribution deadline |
No annual contribution deadline. |
Contributions made within the first 60 days of the year can count toward the previous tax year. |
|
Withdrawal requirements |
Payments typically begin at age 60 and are designed to provide long-term income support. |
Must be converted to a RRIF by age 71 and begin withdrawals. |
|
RDSP |
RRSP |
|---|---|
|
Purpose |
|
|
Long-term financial security for individuals with disabilities. Saving for retirement. |
|
|
Eligibility |
|
|
The beneficiary must qualify for the Disability Tax Credit and be a Canadian resident under age 60. Canadian residents with earned income can contribute until age 71. |
|
|
Contribution limits |
|
|
No annual contribution limit, with a $200,000 lifetime contribution maximum. 18% of previous year’s earned income, up to the annual government maximum. |
|
|
Tax treatment on contributions |
|
|
Contributions are not tax-deductible. Contributions reduce taxable income in the year they are made. |
|
|
Tax treatment on withdrawals |
|
|
Government grants, bonds, and investment growth are generally taxable to the beneficiary when paid out. Withdrawals are taxed as income. |
|
|
Contribution deadline |
|
|
No annual contribution deadline. Contributions made within the first 60 days of the year can count toward the previous tax year. |
|
|
Withdrawal requirements |
|
|
Payments typically begin at age 60 and are designed to provide long-term income support. Must be converted to a RRIF by age 71 and begin withdrawals. |
|
Work with a Mainstreet and Aviso Wealth advisor to build an RDSP plan that fits your goals and your future.
An RDSP is a tax-advantaged account for Canadian residents with disabilities. Investment growth within an RDSP is tax deferred. RDSPs are eligible for government incentives, up to $70,000 in grants and $20,000 in bonds.
An RDSP can hold investments and cash to save for the future. Growth is tax-deferred, meaning the beneficiary pays tax on growth and government incentives when the funds are withdrawn. Contributions to an RDSP are matched by the government up to $3,500 per year and $70,000 total.
Payments to a beneficiary from an RDSP do not affect income-tested programs like Old Age Security, the Guaranteed Income Supplement and the Canada Pension Plan.
You can contribute up to $200,000 an RDSP, however there is no annual limit – you can save at your own pace.
To be eligible for an RDSP, the beneficiary must be a Canadian resident, under 60 years old, and be approved for the Disability Tax Credit.
The government match is up to $3,500 each year. The maximum lifetime contribution match is $70,000.
The maximum CDSB is up to $1,000 ech year. The maximum lifetime limit is $20,000.
