The RDSP: A Life-Changing Savings Tool You Might Not Know About

At Prosperity Credit Union, we believe every member deserves the chance to build financial security, no matter the obstacles life throws their way. The RDSP isn’t just another savings account—it’s a long-term game-changer.

Who Qualifies?

You may be eligible to open an RDSP if:

• You are a Canadian resident,
• Have a valid Social Insurance Number,
• Are under age 60,
• And qualify for the Disability Tax Credit (DTC).

A parent or legal guardian can also open an RDSP on behalf of a qualifying individual.

Why It’s So Important:

1. Free Government Money.
   Let’s not beat around the bush—this plan comes with up to $90,000 in government contributions through grants and bonds. That's a considerable amount of money.
2. You Don’t Need to Contribute to Benefit.
   Even if you can’t contribute much (or at all), the Canada Disability Savings Bond may still add up to $1,000/year just for having the plan open. That’s right—no personal deposit required.
3. Massive Matching Power.
   Contribute a little, and the government can match up to $3 for every $1, depending on your family income. It’s one of the most generous programs out there.
4. Tax-Sheltered Growth.
   Like an RRSP or TFSA, your investments inside an RDSP grow tax-free until funds are withdrawn. That gives your money more time and space to grow.
5. Build for the Long Term.
   This isn’t just about saving for next year. The RDSP helps create a financial cushion for the long term—so you or your loved one can have more independence and security down the road.

Security. Dignity. Peace of Mind.

The RDSP is one of the most powerful tools available to Canadians living with disabilities—but it’s still one of the least understood. At Prosperity, we’re here to make sense of it, walk you through the options, and help set things up in a way that fits your life.

Let’s build something stronger, together.