The Registered Disability Savings Plan: What Canadians with Disabilities and Their Families Need to Know
- RDSPs can help provide financial security for individuals with disabilities - The program combines the advantages of tax deferred investment growth with the opportunity to receive government subsidies - However, despite the many advantages of RDSPs, only 13 per cent of Canadians with disabilities have an RDSP account
(firmenpresse) - TORONTO, ONTARIO -- (Marketwire) -- 10/24/12 -- BMO Financial Group today reminded Canadians with disabilities and their families of the important role the Registered Disability Savings Plan (RDSP) can play in helping provide financial security for those with a disability.
RDSPs combine the advantages of tax deferred investment growth with the opportunity to receive government subsidies. However, despite the benefits that RDSPs can provide, according to Human Resources and Skills Development Canada only 13 per cent of Canadians with a disability have taken advantage of the program.
BMO was the first bank to offer RDSPs and is the current market leader in the space.
"The expenses associated with having or caring for someone with a disability can be daunting," said Robert Armstrong, Vice President, Managed Solutions and Registered Plans Strategy, BMO Investments Inc. "An RDSP can play an important role in helping reduce the financial strain, especially when you consider the significant savings a beneficiary can accumulate through the Canada Disability Savings Grant (CDSG) and the Canada Disability Savings Bond (CDSB), as well as the impact of tax-deferred investment growth."
"When determining what investments to include in an RDSP, it's important for plan holders to understand their investing horizon and to balance risk appropriately," continued Mr. Armstrong. "It's equally important to opt for investment products that have highly competitive management fees such as BMO ETF Portfolios, which combine the advantages of mutual funds and exchange traded funds."
Mr. Armstrong concluded by noting that, as the first bank to introduce RDSPs, BMO feels it has a special responsibility to help educate Canadians about the advantages of the program.
About the RDSP
The RDSP encourages families and individuals to save for the long-term financial security of persons with severe and prolonged disabilities. It is available to Canadians who are eligible for the Disability Tax Credit, and can provide "peace of mind" to parents and other contributors who may put a plan in place for a beneficiary with a disability.
For more information on the RDSP, please visit: .
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Contacts:
Media Contacts:
Amanda Robinson, Toronto
416-867-3996
Valérie Doucet, Montreal
514-877-8224
Laurie Grant, Vancouver
604-665-7596
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Unternehmensinformation / Kurzprofil:
Datum: 24.10.2012 - 17:00 Uhr
Sprache: Deutsch
News-ID 195910
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TORONTO, ONTARIO
Kategorie:
Commercial & Investment Banking
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"The Registered Disability Savings Plan: What Canadians with Disabilities and Their Families Need to Know"
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