Registered Disability Savings Plan (RDSP)
Save for long-term financial needs. Open an RDSP for yourself or for a loved one.
An RDSP is a registered account that supports Canadians who have been approved for the Disability Tax Credit. It helps them save for their long-term financial needs.
Benefits of an RDSP
Tax-deferred growth
Government grants
Use funds for anything
You can open an RDSP and be the plan holder if you’re:
- A Canadian resident who has been approved for the Disability Tax Credit, is 18 years of age (or the age of majority in your province or territory of residence) and has the capacity to manage your finances
- A Canadian resident who is a family member or legal representative of a person who has been approved for the Disability Tax Credit and has not reached the age of majority or who doesn’t have the capacity to manage their finances
RDSP beneficiaries must:
- Be approved for the Disability Tax Credit
- Be a Canadian resident
- Have a social insurance number
- Apply for the account before December 31 of the year they turn 59
You can boost your savings in an RDSP with income-generating investment products. The types of products you choose depend on your risk tolerance and goals.
Explore our investment products
A straightforward way to invest in professionally managed funds that provide diversification and growth potential.
Contribution limit
Withdrawing funds from an RDSP
There are two types of withdrawals:
- Disability Assistance Payments (DAPs) are single withdrawals that can be made at any time
- Lifetime Disability Assistance Payments (LDAPs) are regular withdrawals that continue until the beneficiary passes away or the money in the plan runs out; LDAPs must begin by December 31 of the year the beneficiary turns 60
To learn how much you can withdraw, connect with a financial representative.
Taxing withdrawals
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Not all products are available in all provinces.
In the province of Quebec, the authorized representatives are Financial Security Advisors who have been duly certified by the Autorité des marchés financiers.
Mutual funds are offered through Co-operators Financial Investment Services Inc. to Canadian residents except those in Quebec and the territories. Segregated funds and annuities are underwritten and administered by Co-operators Life Insurance Company.
Co-operators Life Insurance Company and Co-operators Financial Investment Services Inc. are committed to protecting the privacy, confidentiality, accuracy and security of the personal information that we collect, use, retain and disclose in the course of conducting our business. Please visit our privacy policy for more information.
Co-operators® is a registered trademark of The Co-operators Group Limited.