What is the Canada Disability Savings Bond?

The Canada Disability Savings Bond is a kind of disability benefit offered by the Canadian government. For those unaware, the Canada Disability Savings Bond is designed to help low-income families save for the long term welfare and security of a loved one who has a disability (either mental or physical). Unlike the Canada Disability Savings Grant, there is no need for the disabled person (or his/her family) to make contributions to the RDSP in order to receive the Canada Disability Savings Bond from the government.

So who is eligible for this disability benefit? To answer this question, note that after you open your RDSP, you need to be under the age of 49 and be a Canadian resident to avail the Canada Disability Savings Bond. You also need to have a Social Insurance Number and be eligible for the Disability Tax Credit. Moreover, your family’s income needs to be less than $39, 065 (although it should be noted that this figure changes each year with the changes in the rate of inflation).

If you meet all of these above criteria, you can then think about getting the Canada Disability Savings Bond for yourself or a loved one. It is imperative that you remember that this disability benefit is your right and therefore you should avail it if you make the cut. Along with the other disability benefits offered by the Canadian government, the Canada Disability Savings Bond will help ensure that you maintain a standard of living that is at par with other people who do not face a disability like you.

However, given that you may need to go over a lot of paperwork before you can actually avail the Canada Disability Savings Bond, you may find yourself deciding not to make a claim since the work involved is too cumbersome or too time consuming. Whatever you do, do not fall victim to this mindset.

Instead, make things easier for yourself by coming to us. We at the National Benefit Authority (NBA) are expert and fluent in all matters pertaining to disability benefits. Therefore, not only will we be able to tell you which disability benefits you are eligible for, but we will also be able to provide you key insights into the whole disability benefit claim process so that you face no difficulty when making a claim. Note that our team has a success rate that stands at a stunning 99 percent, therefore you can be rest assured that we will be able to effectively handle you case.