Program helps Canadians with disabilities and their families build
long-term financial security
TORONTO, Nov. 4, 2011 /CNW/ - Mackenzie Financial Corporation (Mackenzie
Investments) today announced that it now offers Registered Disability
Savings Plans (RDSPs) to eligible clients. A Federal Government
program, the RDSP is designed to help families and individuals save for
the long-term financial security of Canadians with disabilities.
"This Government-assisted savings vehicle provides a new way to save for
the future for individuals or families who are affected by disability,"
said Mary Taylor, Senior Vice-President, Product and Marketing of
Mackenzie Investments. "According to Statistics Canada, more than 1.7
million Canadians are impacted. The RDSP can play a critical role in
helping create financial security for eligible Canadians with
disabilities. Contributions can be invested and grow tax deferred, and
the Federal Government offers generous grants and bonds to help
beneficiaries accumulate long-term savings."
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on a tax-deferred basis until money is withdrawn.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.
"We are pleased to be increasing accessibility to RDSPs by making the
product available through independent financial advisors," said Carol
Bezaire, Vice President, Tax and Estate Planning at Mackenzie
Investments. To help meet beneficiaries' needs and goals, Mackenzie
RDSP clients have access to a selection of Mackenzie mutual funds
covering a variety of asset classes, geographical areas and investment
styles. "We look forward to helping advisors and their clients maximize
the benefits of their Mackenzie RDSPs," said Bezaire.
More information on Mackenzie RDSPs can be found at www.mackenziefinancial.com/rdsp.
Mackenzie Investments: Mackenzie Investments was founded in 1967, and is a leading investment
management firm providing investment advisory and related services.
With $63.5 billion in assets under management as of October 31, 2011,
Mackenzie Investments distributes its services through a diversified
network of third-party financial advisors. Mackenzie Investments 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 in total assets under management as of October 31,
2011. For more information, visit www.mackenziefinancial.com.
SOURCE Mackenzie Financial Corporation
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