About the RDSP
The Registered Disability Savings Plan (RDSP) is a powerful savings tool similar to a registered education savings plan, but designed specifically for people living with a disability. The plan allows those living with a disability financial security well into older age avoiding the poverty trap and enabling independence.
Planned Lifetime Advocacy Network (PLAN) proposed, researched and campaigned for the RDSP which took over eight years to develop and gain legislative approval for the proposal. During that time, PLAN members mobilized families from their base in Vancouver and consulted with financial institutions, politicians and government bureaucrats to discuss and refine their proposal. Several elections interrupted the discussions requiring PLAN to brief and persuade new people.
Provincial governments had to adapt their laws to accommodate and support the initiative. Overcoming the welfare mindset of the provinces and convincing them to exempt RDSPs as an asset and eliminate claw-back* policies was one of the biggest challenges.
Since it was implemented in December 2008, Plan Institute has continued to track, advise, promote and recommend changes to the RDSP. We work to spread awareness by providing information both online and through free workshops and a toll-free helpline, and working with the RDSP Action Group to determine areas for improvement and recommending changes.
*Claw-back refers to a percentage of money, usually for taxation, that is taken from the total allotment of financial benefit.
To attend one of our free RDSP information sessions click here.