Exciting days as we prepare for the launch of the RDSP. Today Alberta came out and annouced that they will be fully exempting the RDSP as an asset and income for people receiving provincial financial assistance programs. This means that BC, Newfoundland, Saskatchewan, Manitoba, Alberta and Yukon have all come out and fully exempted the RDSP. We are hopeful that the rest of the provinces will come out and announce their treatment of the RDSP in the next few days.
Alberta was an interesting case as they decided to work cross-ministry and include Seniors within the exemption of the RDSP. This opens it up to a really large group of people who will benefit and was a really interesting addition to the announcement.
The Alberta government will ensure Albertans with disabilities who have a federal Registered Disability Savings Plan (RDSP) will not have their provincial benefits affected.
The RDSP is a new federal program that will help parents and others save to ensure the long-term financial security of a child with a severe disability.
“This will encourage families with children with disabilities to plan for their future needs, as well as help Albertans with disabilities to save money to supplement their income and maximize their independence,” said Mary Anne Jablonski, Minister of Seniors and Community Supports.”
If you would like to read more about the announcement you can visit: http://alberta.ca/ACN/200811/24835DEBE8291-F21D-D32E-DF629E66CD5566BA.html