Any Canadian resident with a social insurance number who is eligible for the disability tax credit and is under age 60 can start a Registered Disability Savings Plan (RDSP).
Mark Green, financial advisor and life insurance agent with Desjardins Financial Security Investments Inc. in Regina, made a presentation to a small group of people on Wednesday at the South Saskachewan Independent Living Centre (SSILC).
The beneficiary is the person who will receive money in the future. The holder is the legally authorized person or organization to open and manage the RDSP on the beneficiary's behalf.
The holder and anyone with written permission from the holder can contribute to an RDSP.
The amount of grant or bond that a beneficiary qualifies for depends on family income. The federal government will contribute $1,000 a year even if the holder doesn't contribute any money.
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