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RDSP!

Concentra launches Registered Disability Savings Plans!

 

 

 

 February 22, 2021

As part of Concentra's commitment to support the financial well-being of all Canadians, we're excited to announce
the launch of our Registered Disability Savings Plan (RDSP).

RDSP are designed to help people with disabilities and their families save for long-term financial needs. Not only do RDSPs provide tax-sheltered growth, but also an RDSP is the only savings option that gives a disabled beneficiary potential access to $90,000 in government grants. This product offers meaningful support and we encourage you to share information about the RDSP with your members and colleagues so they can take advantage of its significant benefits.

RDSP benefits for your members

  • Provides access to up to $90,000 in grants and bonds
  • Encourages long-term savings with contributions up to $200,000
  • Is easily accessible for contributions/withdrawals
  • Is a safe and secure variable or term investment vehicle
  • Offers tax-sheltered interest earnings
  • Allows your members to access this product through you

Benefits to your credit union

  • Supports your community by assisting members with disabilities
  • Completes your suite of registered plan products
  • Provides an opportunity to reach out to affected members
  • Is a stable savings vehicle with a minimum investment horizon of ~10 years
  • Supports member retention strategies
  • Demonstrates potential for new accounts since this product is underutilized nationwide
  • Offers ability to transfer-in RDSPs established elsewhere
  • Is available as either an on- or off-balance sheet asset

Your credit union can participate in the RDSP program through two options: Credit Union Deposit Program (CUDP) and Deposit Referral Program (DRP). If your credit union would like to offer RDSPs under the DRP program, no further action is required, and for the CUDP program, please contact us.

Your credit union can open RDSPs commencing February 22, 2021. All RDSP forms and the updated manual are available on the secure web page for credit unions at concentra.ca, and an updated Schedule A will be provided by March 31, 2021. If you are not a credit union and you are interested in this product, please contact us.

Contact us
Selena Gusikoski
306-956-1822

Concentra Trust, a national trust company, has been serving clients, corporations and communities for more than 65 years with tailored estate and trust solutions designed to preserve and transition wealth to future generations. We are well versed in navigating the intricacies of estate planning and administration and our experts have the skill to support all aspects of the process. Given our passion for trust governance, our unbiased advice and guidance, and our inclusive leadership culture and co-operative values, we provide exceptional client service.

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