Finance minister Jim Flaherty Friday announced the launch of the federal government’s review of the Registered Disability Savings Plan.
The government is inviting stakeholders to comment on RDSPs to ensure that the plans are meeting the needs of Canadians with severe disabilities and their families.
“It is important for those who benefit from these plans to give their input, so that RDSPs continue to accurately reflect and address their true needs,” said Flaherty in a release.
The goal of the RDSP program is to help ensure the long-term financial security of children with severe disabilities. The RDSP was introduced in the 2007 federal budget and became available in 2008. The 2008 federal budget announced that the program would be reviewed three years after plans became operational.
The review will seek input on a number of important topics that are crucial to the success of the RDSP. These include issues related to establishing plans, accessing plan savings, plan termination, and the administration of the RDSP program.
Individuals, families, groups representing Canadians with disabilities, financial institutions and experts in the field are encouraged to share their views on these and other relevant issues.
Comments can be sent to the Department of Finance at RDSP-REEI@fin.gc.ca. The closing date for comments is December 16.