Ontario’s Government has shown that they understand the will of individuals and families to help save for the future and have completely exempted the Registered Disability Savings Plan from affecting qualification for individuals receiving social assistance from the province. This means people in Ontario can invest in an RDSP and withdraw from the plan without impacting their eligibility for social assistance or any of their social assistance payments.
“This is about making it easier for families to save for their children with disabilities,” said Minister of Community and Social Services Madeleine Meilleur. “We are making sure that people can put money in an RDSP without it affecting their eligibility for disability support.”
Al Etmanski, President and Co-Founder of Planned Lifetime Advocacy Network, was quoted in the Ministry of Community and Social Services Press Release that detailed the full exemption.
“The message from the Ontario government is clear. It trusts families to help their relative with a disability and has opened the door for them to secure the future for their loved one. In twenty years, we’ll look back on this as a watershed moment for people with disabilities.”
The Ontario Government also took the opportunity to raise the amount Ontarians can receive as a gift or payment from a trust from $5,000 to $6,000 a year.
Way to go Ontario!
For the full press release please visit: http://www.mcss.gov.on.ca/mcss/english/news/releases/081130.htm