1. Overview: Canada Disability Savings Program
Presentation to the British Columbia Aboriginal Network on Disability Society (BCANDS) Wellness Gathering
March 2019

2. What is the Canada Disability Savings Program?
Introduced in 2008, the CDSP was designed to help people with severe and prolonged disabilities and their families save for the future.
Comprised of three components:
1. Registered Disability Savings Plans (RDSP)
- long-term tax-deferred savings instrument;
- personal contributions made by parents and others;
- earnings are tax-sheltered.
2. Canada Disability Savings Grants (Grant)
- matching grants of up to 300% by the Government of Canada, based on the amount of personal contributions and the beneficiary’s family income.
3. Canada Disability Savings Bonds (Bond)
- Government of Canada contributes up to $1,000 in bond a year for low- and modest-income Canadians. No personal contributions needed.

3. RDSP Advantages
Secures funds for more disposable income in the future;
Provides peace of mind to parents, other family members, caregivers, and beneficiaries;
Personal contributions up to $200,000;
Access to up to $90,000 in Grant and Bond from the Government of Canada to help savings grow;
Does NOT affect Government of Canada benefits (Canada Pension Plan, Old Age Security/Guaranteed Income Supplement, Goods and Services Tax rebate, etc.) or provincial or territorial income support benefits.

4. Eligibility for the RDSP
Disability Tax Credit (DTC) Eligible
Canadian Resident
Valid Social Insurance Number (SIN)
Younger than 60 years old

5. RDSP by the Numbers
Since 2008, more than 186,000 RDSPs have been opened, which represents $4.88 billion in total asset value.
Over the past eleven years, the Government of Canada has provided beneficiaries with more than $2.23 billion in Grants and $1 billion in Bonds
Take-up rate is 31.2% (as of December
2017, the most recent data
available on the DTC).
*2018 and 2019 DTC data not yet available to calculate the take-up rate. The projection is based on RDSP historical annual increases. * *

6. Take-up Rates by Province and Territory

7. Program Challenges
The CDSP is a simple savings program; however, the rules governing Registered Disability Savings Plans are complex and can cause confusion.
Access to monies in the plan are restricted.
Balancing immediate needs to cover expenses with understanding the need to save for the future.
Increasing uptake and increasing awareness so that all DTC eligible Canadians can benefit from the program. In particular, this includes:
Reaching hard to reach populations (specifically middle-to-low income, rural, remote, isolated areas, etc.).
Trying to understand reasons for why DTC eligible Canadians don’t open a RDSP.
Clarifying interactions between program and provincial/territorial supports – often misunderstood.
Ensuring appropriate documentation for eligibility.

8. Strategies to Increase Uptake
The CDSP includes an outreach team focused on increasing program awareness including:
annual mail-outs through CRA to DTC-eligible individuals;
public-facing and communication products (e.g. program brochures);
conference and event participation to actively promote the program;
stakeholder engagement; and
partnering with P/T social service agencies (e.g. ongoing partnership with Ontario Disability Support Program).
training and reference material to financial institutions;
support services to issuers and clients via and specialized call centre.

9. Opportunities to Increase Uptake
Gain a better understanding of the program’s target population
Establish new partnerships
Explore innovative ways to increase awareness of the program