Registered Disability Savings Plans

A registered disability savings plan (RDSP) is a government-assisted and tax-deferred savings plan intended to help an individual who is approved to receive the disability tax credit (DTC) to save for their long-term financial security. 

Some features include:


 RDSP contributions are non-tax deductible deposits and can be made by, or on behalf of the beneficiary up to the end of the year the beneficiary turns 59. 

Growing your savings tax-free

While all contributions made to the RDSP remain tax-free, government incentives and income earned in the RDSP are sheltered from tax until withdrawn. 

Future source of income

 Income payments from an RDSP will provide the beneficiary with an additional income source and will not impact most provincial disability benefits and other federal income-tested federal government programs such as GST, OAS, EI, and CCB.

Payments may affect eligibility for disability support and other disability pension plans.  Consult with the provincial benefit provider for further information.

Government incentives (based on eligibility)

Take advantage of government incentives to grow your savings faster. The Canada Disability Savings Grant and the Canada Disability Savings Bond offer financial supports that can really add up over time.

Who is eligible

Beneficiaries must be under the age of 60 when the account is opened.  Government incentives are only available on contributions made while the beneficiary is under the age of 50.

Learn more about RDSPs:  https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/registered-disability-savings-plan-rdsp.html

Financial security for the long-term

Consider an RDSP if you or a loved one are living with a disability and are looking for a way to save for long-term, financial security. This government assisted and tax-deferred savings vehicle is another tool available to help secure the financial future of Canadians with disabilities.

*Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Commissions, trailing commissions, management fees, and expenses may all be associated with mutual fund investments. Please read the prospectus before investing. 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. Mutual funds and other securities are not guaranteed, their values change frequently and past performance may not be repeated.

At Kingston Community Credit Union, eligible deposits in registered accounts have unlimited coverage through the Financial Services Regulatory Authority (FSRA). Eligible deposits (not in registered accounts) are insured up to $250,000 through FSRA.

Learn more about deposit insurance here

A third party is an individual or entity, other than the account holder or those authorized to give instructions about the account, who directs what happens with the account. For example, if an account were opened in one individual’s name for deposits that are directed by someone else, the other person or entity would be a third party.

  • A secondary piece of identification from the primary list above
  • Canadian Birth Certificate
  • Credit Card bearing the name and signature of the individual which has issued by a well-known and reputable Canadian financial institution
  • A CNIB (Canadian Institute for the Blind) client card bearing the individual’s photo and signature
  • Provincial Outdoors Card
  • Canadian University or College Student Card with photo (for student identification only)
  • An employee identification card (with photo) issued by an employer that is well known in the community (i.e. KGH, DND, Queens University, Corrections Canada, etc.)
  • Foreign passport
  • Canadian Passport
  • Permanent resident card
  • Citizenship card (issued prior to 2012)
  • Secure Certificate of Indian Status issued by the Government of Canada
  • Driver’s licenses issued by province or territory
  • The DND (Department of National Defense) 404 driver’s license
  • Nexus Card issued by Canada Border Services Agency
  • Provincial Service Cards
  • Provincial or territorial identity cards (i.e. Ontario Photo Identification Card)
  • Foreign Passport (only if it is equivalent to a Canadian issued photo identification document)