Registered Disability Savings Plan (RDSP) now offered by National Bank Direct Brokerage
National Bank Direct Brokerage (NBDB) now offers clients the possibility of contributing to a Registered Disability Savings Plan (RDSP). This plan helps people with severe and prolonged disabilities achieve greater financial security over the long term.
Anyone who qualifies for the disability tax credit (DTC) is eligible for an RDSP. The overall lifetime contribution limit is $200,000 per beneficiary and contributions can be made until the end of the year in which the beneficiary turns 59. RDSPs offer peace of mind to parents and other contributors who want to open an account in the name of a beneficiary with a disability.
In addition to providing tax-deferred growth until payments are made from the plan, an RDSP also gives eligible individuals access to the Canada Disability Savings Grant and Canada Disability Savings Bond.
Investors can choose from a wide range of investment products offered by NBDB for registered accounts. Contributors will not be charged additional costs for RDSPs and the plans will be subject to the NBDB's preferential annual administration fees which are calculated based on all the accounts held by the client .
 The accounts must have the same root, i.e., the first six digits of the account number must be identical.
National Bank Direct Brokerage Inc. is a wholly owned subsidiary of National Bank of Canada. National Bank Direct Brokerage offers no advice and gives no investment recommendations. The client alone is responsible for the financial and tax consequences of his or her investment decisions. National Bank Direct Brokerage is a member of the Canadian Investor Protection Fund.
About National Bank of Canada
With $214 billion in assets as at January 31, 2015, National Bank of Canada (www.nbc.ca), together with its subsidiaries, forms one of Canada’s leading integrated financial groups. The Bank has more than 20,000 employees and is widely recognized as a top employer. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities via social media and learn more about its extensive community involvement at clearfacts.ca and commitment.nationalbank.ca.
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