ATB Investor Services Registered Disability Savings Plan (RDSP)

Improve the financial future of someone with a disability.

Available through ATB Investor Services™


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Details

Overview

An RDSP is a long-term savings plan that benefits people with disabilities, and their families. The RDSP combines individual or family contributions with government grants and bonds. By investing wisely, the RDSP can grow into a significant asset.

We’ll set you up with a customized investment plan to help you meet your RDSP goals. Options include Guaranteed Investment Certificates (GICs), High Interest Savings Accounts (HISAs) and mutual funds like ATB’s proprietary Compass Portfolio Series.

Additional Information

  • Other features
    • Contributions aren’t tax deductible, but the tax is deferred on income earned until funds are withdrawn.
    • Withdrawals are referred to as disability assistance payments (DAPs). They can be flexible or periodic and must begin by the end of the year the beneficiary turns 60.
    • Canada Disability Savings Bond (CDSB): The government of Canada will deposit money into the RDSP of low-income individuals until the end of the year the beneficiary turns 49, regardless of whether contributions are made to the RDSP. Once the plan has been opened, the maximum payment is $1,000 annually, to a lifetime maximum of $20,000. The amount of the bond is based on the beneficiary’s family income.
  • Notes

    Beneficiaries of an RDSP must:

    • Be eligible for the Disability Tax Credit (DTC) as defined in the Income Tax Act
    • Have a Social Insurance Number (SIN)
    • Have filed tax returns for the previous two years in order to achieve the best possible grant and bond contribution
    • Be a resident of Canada when the plan is opened and when each contribution is made
    • Be under age 60 when the plan is opened, since contributions cannot be accepted after the end of the year the beneficiary turns 59.

Details

Overview

An RDSP is a long-term savings plan that benefits people with disabilities, and their families. The RDSP combines individual or family contributions with government grants and bonds. By investing wisely, the RDSP can grow into a significant asset.

We’ll set you up with a customized investment plan to help you meet your RDSP goals. Options include Guaranteed Investment Certificates (GICs), High Interest Savings Accounts (HISAs) and mutual funds like ATB’s proprietary Compass Portfolio Series.

Additional Information

  • Other features
    • Contributions aren’t tax deductible, but the tax is deferred on income earned until funds are withdrawn.
    • Withdrawals are referred to as disability assistance payments (DAPs). They can be flexible or periodic and must begin by the end of the year the beneficiary turns 60.
    • Canada Disability Savings Bond (CDSB): The government of Canada will deposit money into the RDSP of low-income individuals until the end of the year the beneficiary turns 49, regardless of whether contributions are made to the RDSP. Once the plan has been opened, the maximum payment is $1,000 annually, to a lifetime maximum of $20,000. The amount of the bond is based on the beneficiary’s family income.
  • Notes

    Beneficiaries of an RDSP must:

    • Be eligible for the Disability Tax Credit (DTC) as defined in the Income Tax Act
    • Have a Social Insurance Number (SIN)
    • Have filed tax returns for the previous two years in order to achieve the best possible grant and bond contribution
    • Be a resident of Canada when the plan is opened and when each contribution is made
    • Be under age 60 when the plan is opened, since contributions cannot be accepted after the end of the year the beneficiary turns 59.

Available through ATB Investor Services™


  • Clicking the button will open a new page of ATB.com