Registered Disability Savings Plan Deadline is Dec 31st

contributed by: Jack Styan on June 2nd, 2008
Average: 5 (1 vote)
5

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, 2009 is looming large for 2009 contributions...

You can get information about the plan on our blog www.rdsp.com and our website www.plan.ca.

Category: Finance
Topic: financial planning | financial security | future planning | income security
Want to rate a tip, comment on a tip or add your own tips? Join Untape now >>

Comments

You can buy the RDSP for 2008

Submitted on January 12th, 2009 by Kevin Lusignan

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!

BMO and the RDSP

Submitted on February 19th, 2009 by BACI Family Support

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 alot 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)

Further Update

Submitted on March 27th, 2009 by Dr. D

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