The Registered Disability Savings Plan helps people with disabilities save for the long-term. If you open an RDSP and make annual contributions to the account, the government will match those contributions. Even if you are not able to afford to make contributions to your RDSP, the government may still make contributions, based solely on your income.
How Much can you Collect from the Government over a Lifetime? $90,000
If you make a contribution to your RDSP, the federal government will match that contribution.
If your Family Income is Less Then $87,907*
• For the first $500 you contribute every year, the government matches 3 dollars for every 1 dollar. You put in $500 and the government will put in $1,500.
• For the next $1,000 you contribute, the government matches 2 dollars for every 1 dollar. You put in another $1,000 and the government will put in an additional $2,000.
If your Family Income is Greater than $87,907*
• For the first $1,000 you contribute every year, the government matches dollar for dollar. You put in $1,000 and the government will put in $1,000.
* The government will continue making Grant contributions until you’ve contributed $70,000 or until the year the person turns 49 years of age.
The Bond is solely based on family income.
• If your family income is $25,584* or less the government will contribute $1,000 each year.
• If your family income is between $25,584* and $43,953* the government will contribute a pro-rated amount of the $1,000 Bond each year.
• If your family income is more than $43,953* no Bond is paid.
The government will continue making Bond contributions until they have contributed $20,000 or until and including the year the person turns 49 years of age.
Family income is based on the parents’ income until the year the person with the disability turns 19 years of age. Once the person with the disability reaches the year they turn 19, government Grant and Bond contributions are based on their own income if they are single. If they are married or in a common-law relationship, family income is based on the couple’s collective income.
*Income thresholds are for 2014 and are indexed to inflation.