We have been getting a lot of questions concerning the status of the RDSP lately, so I will give everyone a quick update.
The RDSP will become available in December of this year. Currently the Federal Government is working on finalizing the Regulations to accompany the legislation. The Regulations were made public for consultation in late March and received feedback from community members, financial institutions, NGO’s and other various stakeholders.
We are expecting the final Regulations to be out by the end of June at which point the Federal Government will be looking to draft agreements with financial institutions who are interested in offering RDSPs to their customers. After the Federal Government has drafted these agreements, the financial institutions in question will begin creating their systems required to administer and track the RDSPs.
As soon as we know which financial institutions are offering the RDSP we will be posting a list on this blog. We are expecting that you will be able to set up an RDSP at a local bank starting in December of this year.