RBC to offer Registered Disability Savings Plans

    RBC teams up with Planned Lifetime Advocacy Network (PLAN) to educate
    Canadians about RDSPs

    TORONTO, Feb. 9 /CNW/ - Starting February 16, 2009, RBC will offer
Registered Disability Savings Plans (RDSPs), allowing eligible Canadians to
take advantage of 2008 Canada Disability Savings Grants (CDSGs) and Canada
Disability Savings Bonds (CDSBs).
    "RDSPs are designed to help Canadians with disabilities and their
families ensure long-term financial security," said David Birkbeck, head,
registered products strategy, RBC. "Our role at RBC is to help Canadians
understand how they can benefit from the RDSP and we are encouraging clients
to take advantage of these new plans prior to the March 2 deadline for 2008
federal government contributions."
    RBC has joined forces with Planned Lifetime Advocacy Network (PLAN), a
non-profit organization which led the advocacy for the creation of the
Registered Disability Savings Plan, to help educate and offer advice to
Canadians. As PLAN's preferred national RDSP provider, RBC will work closely
with PLAN to assist Canadians with disabilities and their families.
    "RBC has a longstanding commitment to helping Canadians with disabilities
and we are proud to have selected them for their expertise and leadership,"
said Al Etmanski, president & co-founder. "Over time, RDSPs will provide
billions of dollars to supplement income, enable home ownership and enhance
quality of life for as many as 500,000 Canadians with disabilities. Our goal
is to work together to reach as many Canadians as possible."
    The RDSP allows eligible Canadians to save and invest for themselves or
for a family member while deferring tax. Contributions may be eligible for
federal government matching grants (CDSG) up to $3,500 annually and the plan
may be eligible for government bond amounts (CDSB) up to $1,000 annually. The
money in an RDSP can be used for any purpose, as long as it is for the benefit
of the plan's beneficiary. Beneficiaries must be a resident of Canada, under
age 60, have a Social Insurance Number (SIN) and be eligible for the
Disability Tax Credit (DTC) as defined in the Income Tax Act (Canada).
    In order to open an RDSP, Canadians must be:
    -   A person with a disability who is of the age of majority and has the
        legal capacity to manage their finances
    -   The parent of a person with a disability who has not attained the age
        of majority
    -   A guardian or other representative who is legally authorized to act
        of behalf of a person with a disability.

    Within Registered Disability Savings Plans, RBC clients will have access
to a wide variety of investment options including RBC Funds, RBC GICs and RBC
Savings Deposits. There will be no annual administration or withdrawal fees.
Clients will also have the opportunity to make regular, pre-authorized
contributions through RDSP-Matic(TM).
    Canadians can call 1-800-463-3863 to book an appointment with an RBC
Advisor to learn more, get advice or open a Registered Disability Savings
    For more information on Planned Lifetime Advocacy Network (PLAN) please
visit: www.plan.ca/homepage.php.

    RBC is a recognized leader in supporting people with disabilities. RBC
believes that full inclusion is in the best interests for our communities. We
support programs that help create employability, remove barriers to education
and provide services for people with disabilities. RBC has also supported the
Special Olympics Canada since 1968.

For further information:

For further information: Media contacts: Sarah Pendrith, RBC Wealth
Management, (416) 974-8820; Jackie Braden, Media Relations, (416) 974-2124

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