Registered Disability
Savings Plans (RDSP)

The Registered Disability Savings Plan (RDSP) sets your loved one on the path to long-term financial security. It can give them (and their family) the comfort of knowing they’ll be supported, no matter where life takes them. Thanks to our new partnership with New Outlook Wealth, Brematson can make this happen. 

We looked at many different financial advisory practices before establishing our partnership with New Outlook Wealth. They have a demonstrated and proven experience in establishing RDSPs. Like us, they believe people with disabilities can and should have a financial planner to work with them, their families, and caregivers to provide a holistic financial plan regardless of their socio-economic background or current savings.

Registered Disability Savings Plan - An Underutilized Tool

The RDSP is a tool for financial security that has been underutilized for many years. Though it was approved by the government in 2006, it has unfortunately not been embraced by many financial advisors partly because of misconceptions about the product. 

Brematson was determined to provide our clients access to financial professionals who have a track record of making a real difference to the lives of  people with disabilities. Educating people with disabilities and their families on their financial security options is one of the many services we have historically championed and pride ourselves on.

How Can Working With New Outlook Wealth Help Your RDSP?

New Outlook Wealth works with families to ensure that their disability benefits and programs are integrated into their broader financial plan. This includes strategies to manage debt, cashflow, retirement, insurance, tax, and estate planning. 

Our collaborative partnership offers people with disabilities a comprehensive approach to financial planning, including various federal government disability benefits and tax credits. These may include the RDSP, the Disability Tax Credit (DTC), and others. Filling this gap means much more than financial planning services – it creates a plan for the future, allowing you and your loved one to look forward to what’s ahead.

Registered Disability Savings Plans can be an excellent way to ensure a family member has financial security after you’re gone.


About RDSPs

  • People under the age of 49 who have been approved for the disability tax credit are eligible to open an RDSP. A financial planner is required to open your plan.
  • If you don’t have a financial planner with RDSP experience, then we can connect you with one to guide you through the process.
  • The RDSP is a long-term savings plan that benefits people with disabilities, and their families, in saving for their long-term financial needs in a tax-deferred environment. The RDSP combines individual or family contributions with government grants and bonds. By investing wisely, the RDSP can grow into a significant asset.
  • The Federal government has a matching program that provides for a Canada Disability Savings Grant.
  • For low-income Canadians, the Canada Disability Savings Bond provides up to $1,000 per year with no contributions required.
  • Savings in an RDSP grow tax-deferred, although contributions are not tax-deductible.
  • The money coming out of an RDSP can be used for any purpose for the benefit of the plan’s beneficiary.
  • Withdrawals from an RDSP are referred to as Disability Assistance Payments. Withdrawals must begin by the end of the year the beneficiary turns age 60. Payments from the RDSP do not affect eligibility for Federal Government benefits such as the GST credit, OAS, GIS, CPP and the Child Tax Benefit. In Manitoba, social assistance programs have also exempted the RDSP assets and income.

Contributor Qualifications

  • A person with a disability, who is of the age of majority (18 or 19 depending on the province) and has the legal capacity to manage his or her finances; or
  • The parent of a child with a disability; or a guardian who is legally authorized to act on behalf of a person with a disability.
  • As of 2011, upon the death of the parent or grandparent of a financially dependent child or grandchild with a disability, some or all of the deceased individual’s retirement savings can be transferred tax-free to their dependent’s RDSP.

We have guided countless families through the process of establishing an RDSP. Our knowledgeable financial partners are honoured to help your family.

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