New online financial planning tool
The Government of Canada issued the following News Release today:
Harper Government invests in new online financial planning initiative for Canadians with disabilities
November 4, 2014 – Vancouver, British Columbia – Employment and Social Development Canada
Today, the Honourable Candice Bergen, Minister of State (Social Development) announced an investment through the Social Development Partnerships Program – Disability Component (SDPP-D) of $427,626 to the Plan Institute for Citizenship and Disability and Prosper Canada for their project, “Future Planning Tool for Persons with Disabilities.”
Minister Bergen made the announcement with the Plan Institute for Citizenship and Disability and Prosper Canada at a Bank of Montreal branch in Vancouver, British Columbia as part of Financial Literacy Month.
The online project will provide financial information to Canadians with disabilities, their families and caregivers. It will also encourage expanded relationships with financial institutions and financial planners.
- The Disability Component of the Social Development Partnerships Program (SDPP-D) supports projects intended to improve the participation and integration of people with disabilities in all aspects of Canadian society.
- The RDSP was launched in 2008 as a long-term savings plan designed to help people with disabilities and their families save for the future. Since then, over 90,000 plans have been opened across Canada.
- So far, the Government has contributed over $1 billion in bonds and grants into the RDSPs of people with disabilities, helping to ensure long-term financial security for all Canadians.
“Our Government introduced the Registered Disability Savings Plan, the first plan of its kind in the world, because we recognized how important saving for the future is, particularly to Canadians with disabilities and their families. We’re proud to partner with organizations such as the Plan Institute and Prosper Canada to give Canadians with disabilities a useful resource when it comes to their financial planning decisions. In addition, this project will play a key role in expanding the relationship between financial institutions and the disability community.”
– The Honourable Candice Bergen, Minister of State (Social Development)“At PLAN and Plan Institute, we understand first-hand the complexity of disability-related future planning. We are excited to share 25 years of planning knowledge and to partner with Prosper Canada and the federal government to develop a future planning tool that will create safe and secure futures for people with disabilities and give parents peace of mind.”
– Ted Kuntz, Board Chair, PLAN and Board member, Plan Institute for Citizenship and Disability“We’re very excited to be partnering with Plan Institute and Employment and Social Development Canada to develop further financial planning tools for people with disabilities and their families. With the online tools we develop, we can harness technology to make financial planning and decision-making easier for families, and help them provide a better financial future for their children.”
– Elizabeth Mulholland, Chief Executive Officer, Prosper Canada“When Finance Minister Jim Flaherty introduced the RDSP in the 2007 budget, Canada showed the world how a smart, innovative policy can help provide financial security and independence for people with disabilities. We are proud to work closely alongside PLAN to help families secure their future. ”
– Robert Armstrong, Vice President, Head of Managed Solutions, BMO Asset Management Inc.
- Funding: Social Development for Disability Programs
- Registered Disability Savings Plan
- Financial Literacy Month
- Canada’s Economic Action Plan
Media Relations Office
Employment and Social Development Canada