Registered Disability Savings Plan Deadline is Dec 31st

  

Canadians with disabilities and their families have a new financial tool with which to secure their financial futures: a Registered Disability Savings Plan. The deadline of December 31, 2010 is looming large for 2010 contributions.

You can get information about the RDSP at the blog www.rdsp.com and at the PLAN website www.plan.ca.

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3 Responses to Registered Disability Savings Plan Deadline is Dec 31st

  1. Kevin Lusignan says:

    Just a bit of an update. The RDSP is now available through the Bank of Montreal. I understand that it will be offered through other institutions in the future. You can buy for 2008 and transfer to another financial institution for $50 once other banks/credit unions come on line.

    This is a really good way to save for people with disabilities. $1500 invested gets you $4,000. This is an environment where money can grow very well.

    It is appropriate to mention that the good people of PLAN have worked for years to lobby the Canadian Government to bring the RDSP to fruition. Clearly people will benefit for the hard work done by PLAN. Thanks!

  2. BACI Family Support says:

    Our family has used the Bank of Montreal’s service to open an RDSP for our daughter and found it to be quite painless.  There are a lot of forms to fill out, and the branches are not that clued-in as to what is going on, but you mostly have contact with the investment centre back east. 

    We have found them to be very helpful and I walked through all the forms with the representative so that I did not make any mistakes.  The representative I spoke to was extremely patient as this takes quite a long time to do.  We are now ready to start the plan, we just need to tell them which account to put the money into.

    All and all, a very good experience!

    Please see the BMO site for more information at:

    http://www4.bmo.com/investments/0,4629,35649_62330610,00.html

    The site includes an easy to follw step-by-step guide.

    Carol Stinson (mother to Lauren)

    • Dr. D says:

      We learned in mid-march that the Royal bank was offering RDSP. I contacted them, and grumbled about their hours, and they cheerfully sent someone to our house to do the forms. I did some of it on the phone, the forms were all typed and the whole thing took only about 1/2 an hour.

      Cheers, Dallas

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