1st Choice Savings - RDSP Account

Plan for the financial well-being of a loved one with disability.

Get Started

A Registered Disability Savings Plan (RDSP) is a government program designed for Canadian residents under 60, living with disabilities, receiving the Disability Tax Credit, and who hold a valid social insurance number. A parent or guardian can open an RDSP on behalf of a person with a disability if needed.

An RDSP is a matched savings plan with a $200,000 maximum lifetime contribution limit with no yearly minimum or maximum contribution. All funds in the plan are tax-sheltered and are not impacted by federal or most provincial social benefits. Through Canada Disability Savings Grants, the Government of Canada may contribute up to $3 for every $1 you put into the fund up to $70,000. This grant is based on contribution and annual income.

Tax-Sheltered Growth: Income earned from the RDSP grows on a tax-sheltered status until funds are withdrawn, after which they are taxed as income.
Get Government Contribution: Access thousands of dollars in government grants from the Canada Disability Savings Grant (CDSG) and the Canada Disability Savings Bond (CDSB) to a lifetime maximum of $90,000.
No Annual Maximum: Contributions can be up to a lifetime limit of $200,000 and can be made up until the end of the beneficiary’s 59th year.

Canada Disability Savings Bond is another way for the federal government to contribute money to your RDSP. Bonds of up to $1,000 will be paid a year to low-income Canadians with disabilities.

The lifetime bond limit is $20,000 and it can be paid into an RDSP until the year in which the beneficiary turns 49. The amount of Disability Savings Grant you receive depends on your income tax returns for the previous two years.

For a minor, the grant is calculated on their family’s net-adjusted income.
For an adult, the grant is based upon the beneficiary’s personal net-adjusted income (even if they live with their parents). If the beneficiary has a spouse, it is their family net-adjusted income.

Canada Disability Savings Bond

Your RDSP can contain the following investment products and accounts, where you pay no tax on interest earned, income, dividend, or withdrawals:

Guaranteed investment certificates (GICs)
Cash (Investment Account*)
Mutual funds
Treasury bills

Bonds
Equities
Exchange traded funds
High-interest savings account

Personalized Advice

Our dedicated wealth advisors will provide personalized investment plans to keep your financial goals on track. Book an appointment online, by phone, or in-person at a branch.

RRSPs

It’s never too early or too late to start planning for retirement. Use GICs for low‑risk retirement savings growth.

RRSP

Mutual Funds

No matter where you are in your journey, we provide access to a diverse group of mutual funds through Aviso Wealth that can help you match your investment goals.

Mutual Funds

Mutual funds and other securities are offered through Aviso Wealth, a division of Aviso Financial Inc. Commissions, trailing commissions, management fees and expenses all may 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. Online brokerage services are offered through Qtrade Direct Investing. Qtrade Direct Investing, Qtrade Guided Portfolios and Aviso Wealth are divisions of Aviso Financial Inc.

What is a RDSP?

Benefits of a RDSP:

Canada Disability Savings Bond

What Investment Products Can I Put In A RDSP?

How Do I Invest In A RDSP?

Personalized Advice

You May Also Be Interested In

RRSPs

Mutual Funds