Should I get both RDSP and RRSP

If I were to eligible for the RDSP and earn employment income to be also eligiblefor RRSP,should I just open RDSP to save money or get both RDSP and RRSP to save my money?

689

Intuit Alumni

Apr 23, 2020 4:04:04 PM

It is a question of preference. The contributions to your RDSP are not deductible and can be made until you turn 59. while the RRSP contributions are deductible and you can contribute until you turn 71. Since you are still working, you can utilize both plans.

Here is more information on the RDSP:

https://www.canada.ca/en/revenue-agency/services/forms-publications/publications/rc4460/registered-disability-savings-plan.html#P44_1110

I hope this was helpful

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Should I get both RDSP and RRSP