Canada’s major financial institutions are all offering the RDSP:
- Bank of Montreal
- Bank of Nova Scotia
- Central 1 Credit Union
- Central 1 Trust Company
- Global Growth Assets Inc.
- Investors Group Trust Co. Ltd.
- Fonds d’investissements FMOQ inc. (French only)
- Mackenzie Financial Corporation
- RBC Royal Bank
- TD Waterhouse Canada Inc.
The list may change from time to time, please see http://www.esdc.gc.ca/eng/disability/savings/rdsp.shtml#financial for the most up-to-date list of financial institutions offering the plan or call 1-800-O-Canada (1-800-662-6232).
Federal Government Resources
Provincial/Territorial Implications – Disability Benefits
Why is it important for Provinces/Territories to Exempt the RDSP? In the provinces/territories, a person who is eligible for provincial/territorial disability benefits is often restricted from accumulating any assets to save for their future financial security. As well, they are generally restricted in the amount of income they may receive before being disqualified or having funds clawed-back from their Disability Benefits.
It is for this reason that we are encouraging all the provinces to come out and fully exempt the Registered Disability Savings Plan from any asset and income tests for determining eligibility for Disability Benefits. If a province does not exempt the RDSP as an asset and/or income, there will be less incentive for people to set up an RDSP as it may disqualify them from receiving Disability Benefits, or cause a claw-back for any income received from an RDSP.