What is a Specified RDSP? (SDSP)

A SDSP is a new measure to provide beneficiaries who have shortened life expectancy with greater flexibility to access their savings from an RDSP. Withdrawals from an SDSP will not trigger a repayment of the assistance holdback amount as long as the sum of the taxable parts of all withdrawals made in the year does not exceed $10,000. However, once the election is made, no more contributions can be made to the plan and the plan will not be entitled to any new grants or bonds. Furthermore, you will not be entitled to carry forward any grant or bond for those years under this plan.

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