Anyone can contribute to an RDSP- family, friends, neighbours… it gives people who want to help a way to do so!
The money can be invested to grow. It is the best Return on Investment available. Depending on someone’s income, any money saved immediately triples in value. Once investment decisions are made, it can really start to grow!
The RDSP is exempt from most provincial disability and income assistance benefits. It does not get clawed back and it does not reduce disability benefits payments. Click here to find out how your province treats the RDSP.
People with disabilities can choose what to do with the money when it comes out- there are no restrictions on how the money can be spent!
The Registered Disability Savings Plan (RDSP) is a Canada-wide registered matched savings plan specific for people with disabilities. Here are some basics:
Not only, you receive the tax deferral benefits in the RDSP Plan, you also receive up to $70,000* in Grants and up to $20,000* in bonds in your RDSP Plan.
Canadian Savings Disability Grants match contributions to the RDSP account between 100-300%, depending on Family income, up to the age of 49. i.e. if income is higher than the CSDG threshold amount $1,000 gets $1,000, if it is lower, $1,500 gets $3,500 in grants.
Mutual funds are offered through Networth Financial Corp. (NFC), member of the MFDA and MFDA Investor Protection Corporation. Commissions, trailing commissions, management fees, and expenses may all be associated with mutual fund investments. Please read the Fund Facts Sheets before investing. Mutual funds are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer and are not guaranteed, their values change frequently and past performance may not be repeated.
Yogesh Bansal is dual licensed for the sale of insurance products as well. As such, you may be dealing with more than one company depending on the products or services provided. NFC is responsible only for business licensed under the Provincial Securities Act & Regulations. It does not supervise or review any other business. All other services are the responsibility of another licensed entity and not the responsibility of NFC.