Disability savings plan poor long-term deal for those on pensions

Federal program not as good as advertised, pensioner writes

The Registered Disability Savings Plan is a scheme cooked up by the Tories that looks good at first.

It promises to triple your “investment.” After 10 years, the government will give you a three-to-one match.

Catch No. 1: you have to wait 10 years to see any money again.

Catch No. 2: you will have to pay tax when your RDSP matures, reducing your return by 20 to 30 per cent.

Catch No. 3: when the RDSP matures and you cash it in, you are no longer allowed to collect disability benefits.

The federal government does not tell you about this.

In the long run, if you are foolish enough to invest in this plan, you come out behind, you have sacrificed grocery money in the here and now to get a kick in the pants later.

Trust Stephen Harper to exploit Canada’s most vulnerable people.

Sean Murray

Saanich

Just Posted

Autism support dog helps Langford boy hold his head high

Family shares story for Autism Awareness Month

Give your immunity a boost for National Immunization Awareness Week

Immunize Canada calls on Canadians to stay up to date with their immunizations

Bear sightings historically rare in Langford: City staff

51 bear complaints or sightings in last year

Families hop over to Easter celebrations at Millstream Village

Annual Easter Eggstravaganza had lineups before 11 a.m.

Parishioners bear the weight of a large wooden cross on Good Friday

Good Friday Passion Procession winds through streets of Victoria

WATCH: Movie star and PACE alum Calum Worthy talks musical theatre and his career

“American Vandal” and “Austin and Ally” actor has been returning to the program for over 20 years

POLL: How often does your family use BC Ferries?

Navigating the lineups for BC Ferries is a way of life for… Continue reading

Crime Stoppers most wanted for Greater Victoria for the week of April 16

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

B.C. RCMP receive application for Police Cat Services

RCMP announced the launch of the Police Cat Services unit as an April fools joke

Kirkland Signature veggie burgers recalled due to possible metal fragments

Recalled products came in 1.7 kg packages with a best before date of Apr. 23, 2019

Parents of 13 who tortured children get life after hearing victims

One of their daughters fled their home and pleaded for help to a 911 operator

Flooding, climate change force Quebecers to rethink relationship with water

Compensation for victims of recurring floods limit to 50% of a home’s value, or a maximum of $100,000

Storms blast South, where tornadoes threaten several states

9.7 million people in the Carolinas and Virginia at a moderate risk of severe weather

Private cargo ship brings Easter feast to the space station

There are three Americans two Russians and one Canadian living on the space station

Most Read