Program helps Canadians with disabilities and their families build
long-term financial security
WINNIPEG, Nov. 7, 2011 /CNW/ - Investors Group today announced that it
now offers Registered Disability Savings Plans (RDSPs) to eligible
clients. RDSPs are long-term savings plans that help individuals,
family and friends accumulate funds in an account for an individual
(beneficiary) who is eligible for the federal Disability Tax Credit.
RDSPs grow on a tax-deferred basis and may be eligible to receive the
Canada Disability Savings Grant and the Canada Disability Savings Bond.
"We are pleased to support this very useful program for persons with
disabilities and those who care about them," said John Wiltshire,
Senior Vice-President, Product and Financial Planning of Investors
Canadian residents under age 60 who are qualified for the Disability Tax
Credit may open an RDSP. Contributions are not tax deductible, but grow
on a tax-deferred basis until money is withdrawn. The lifetime
contribution is $200,000 per beneficiary, with no annual contribution
To encourage savings, the Government provides a matching Canada
Disability Savings Grant of up to $3,500 a year on contributions,
depending on the net income of the beneficiary or beneficiary's family.
The Government also pays a Canada Disability Bond of up to $1,000 a
year for 20 years into the RDSPs of low and modest income Canadian
beneficiaries. To date, the Government has contributed more than $290
million to Canadian RDSPs.
Investors Group, founded in 1926, is a national leader in delivering
personalized financial solutions to Canadians through a network of
approximately 4,600 Consultants located throughout Canada. In addition to an exclusive family of
mutual funds and other investment vehicles, Investors Group offers a
wide range of insurance, securities, mortgage and other financial
services. Investors Group is a member of the IGM Financial Inc. (TSX:
IGM) group of companies. IGM Financial is one of Canada's premier
financial services companies with over $121 billion as of October 31,
2011, in total assets under management.
The Canada Disability Savings Grant and the Canada Disability Savings
Bond are provided by the Government of Canada.
SOURCE Investors Group Inc.
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