Toronto-based Bank of Montreal (BMO) is extending a partnership with Vancouver-based Planned Lifetime Advocacy Network (Plan Institute), a non-profit organization that provides assistance to those living with disabilities and their families, according to the bank’s announcement on Tuesday.
Under the partnership, BMO will distribute Plan Institute’s educational materials regarding RDSPs throughout its branches. In addition, the non-profit will assist eligible individuals with opening RDSP accounts at the bank. BMO now has more than $1 billion in assets under management in RDSPs.
“With the renewal of our partnership with the Plan Institute, we hope to continue to build awareness of the RDSP, and help support the needs of individuals with disabilities in communities across Canada,” says Trevor Philp, senior manager of registered products and managed solutions at BMO’s global asset management arm.
BMO provides some introductory information regarding the rules surrounding RDSPs in its announcement. The bank notes that the contribution deadline for the 2016 tax year is Dec. 31.
Photo copyright: crazymedia/123RF