Minister Michelle Stilwell joined members of the BC wheelchair rugby provincial team in a game of wheelchair rugby today to promote the Registered Disability Savings Plan. The Hon. Carla Qualtrough (Minister of Sport and Persons with a Disability) and Minister Stilwell (Minister of Social Development and Social Innovation) joined forces at an event at Robson Square to kick off the RDSP awareness campaign.
National team member Byron Green also spoke about his the RDSP has helped him attain financial freedom.
Did You Know?
- If you're eligible for a Disability Tax Credit, you are eligible for an RDSP.
- You could earn $90,000 in your lifetime.
- If you are low income, you could earn even more. For example, if a family that earns under $26,000 per year invests $900 in RDSPs, they could make over $250,000.
- There are different types of RDSPs depending on your income level and your financial goals.
- Your bank or financial planner can help guide you through the process.
There are two types of RDSPs:
Bonds (you do not have to deposit money into your RDSP to get these): Low-income individuals may get up to $1,000 per year.
Grants (you must deposit money into your RDSP to get these): Low and modest-income individuals may get up to $3 for every $1 you deposit. Matching rates are based on your income and how much you deposit.
To learn more, check out the RDSP guide put out by the BC government.