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Does making a lump-sum withdrawal from an RDSP trigger the LDAP?



Our response:

A Registered Disability Savings Plan (RDSP) allows people with disabilities and their families to save for their future. Government grants add to your savings and your investments grow tax-free. There are two types of RDSP payments:

  1. Disability assistance payments (DAPs) – Discretionary payments that can be made at any time.
  2. Lifetime disability assistance payments (LDAPs) – Regular payments that once started, are payable at least annually, and must be started by the end of the year that the beneficiary turns 60.

Whether DAPs are allowed depends on the financial institution. Speak to your RDSP provider to learn more about making withdrawals from your plan. Learn more about RDSPs from Employment and Social Development Canada.

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