If you are aged between 50-59, you may be wondering what benefits a registered disability savings plan (RDSP) would have for you. With retirement years coming up and no ability to receive the government contributions, the RDSP is best used for people in their 50s who want a safe way to save money for their future and still be eligible to receive disability benefits and/or income assistance.

The RDSP is a long term savings program designed for people with disabilities. It can hold up to $200,000 in personal contributions, earn unlimited investment income and is considered a fully exempt asset – this means you can use the RDSP to safely put away money for your retirement or to receive a large lump sum such as an inheritance or insurance settlement, without losing access to your disability benefits and/or income assistance!

Additionally, withdrawals from the RDSP are also considered exempt for all federal and most provincial/territorial disability benefits and income support programs. And since there are no government contributions in the RDSP, you’ll have the greatest flexibility for when and how much you withdraw!

Example scenarios










Quinn is 50 years old and has just been approved for the DTC. She opens an RDSP to start saving money for her retirement and contributes $2,000/year. With her investments, her RDSP is worth $27,205.98 by the time she turns 60 and is ready to make regular withdrawals.

She decides to withdraw the entirety of the RDSP funds to take her and her family on a dream vacation at age 62 and closes the account. If she were to keep the RDSP open, she would receive a yearly amount of at least $1,000 until she turns 83.










Teo is 56 years old and has had the DTC for most of their life. They received an inheritance of $120,000 from one of their parents and open an RDSP to protect the money. Two years later, Teo receives an additional $100,000 inheritance and deposits the maximum $80,000 into the account.

They decide to let the RDSP continue growing and only take the minimum withdrawals per year. Teo receives a minimum of $10,000 each year, starting the year they turn 60.

By the time Teo is 75 years old, their RDSP is still worth $126,766.21. Teo decides to close their RDSP and withdraw the full amount of the fund to move their family across the world and put a down payment on a house that will be left to their children.


All scenarios were calculated using the RDSP Calculator at rdsp.com/calculator. The investment strategy chosen before withdrawals begin is moderate at 5%. The investment strategy chosen after withdrawals begin is conversative at 3%. 


Learn more about the RDSP

What is it?
Why open an RDSP?
How do I qualify?
Where do I get it?
Get free help to open one!