The ‘plan holder’ is the person who opens the RDSP. The beneficiary is the person who receives proceeds. The RDSP plan holder and beneficiary must be a legally competent adult

An RDSP has no effect on benefits from income support programs like Social Services or Guaranteed Income Supplement

The Canada Disability Savings Grant (CDSG) can help jumpstart your RDSP savings: the federal government will match your RDSP contributions up to $3,500 per year and a lifetime total of $70,000

Depending on your income level, you can receive up to $1,000 per year and a lifetime total of $20,000 into your RDSP from the CDSB. You don’t need to make contributions to receive the CDSB

Once the RDSP beneficiary is over 18 years old, family income is based on their and their spouse’s income – not the plan holder’s

Government grants and bonds are given until December 31 in the year the RDSP beneficiary reaches age 49

There’s a lifetime RDSP contribution limit of $200,000

The RDSP beneficiary needs to start making withdrawals when they reach 60 years old

The RDSP is intended for long-term savings – the Grant and Bond are to encourage savings and should remain in an RDSP for at least ten years

You’re a resident of Canada under age 60

You have a valid social insurance number

You’re eligible for the Disability Tax Credit

Contributions to an RDSP are not tax deductible

Income earned grows on a tax-deferred basis

Withdrawals are taxed as income