A registered disability savings plan (RDSP) is intended for people who qualify for the disability tax credit. It allows the contributor to tax shelter investment earnings. It’s similar to an RESP in that contributions are not tax deductible.

A disabled individual may save for retirement years by contributing into an RDSP anytime up to and including age 59. A maximum of $200,000 may be contributed. The federal government also makes contributions into the plan through the Canadian Disability Savings Grants and the Canadian Disability Savings Bond. The amount of government funding reflects family net income and annual contributions.