My daughter is eligable for the RDSP grant and I applied in Feb 2009 through RBC. We still have not recieved the grant or bond and it is Dec 2009. This looked good in the press but no money has been forthcoming.
Jun 12, 2009 Rating
Gov't delay by: Anonymous
Our plan was opened with RBC in time to qualify for 2008. We are now told that approval of the grants will not be forthcoming until late summer of 2009. That means that the possible growth on this grant will be lost for over 6 months. At a time when the market is improving this could be a substantial loss.A gain for the Gov't is another loss for the disabled.
A great plan if they would now get their act together and get it on track.
Mar 02, 2009 Rating
My comments as an RBC Advisor by: Anonymous
I am an RBC advisor and spent the last two weeks working six days per week and sometimes 10-12 hours per day to get as many people into this as possible. I contacted the local organizations for special needs people, doctors, public health nurses and anyone else I could think of. The rest of the staff in the branch did the same. I was able to open 20 RDSP's It would have been nice to have the deadline extend a little longer, with RRSP's TFSAs and RDSPs needless to say I am exhausted. Overall the applicaton went smoothly, and every one was happy. The benefit to special needs people who are opening a RDSP is that over the phone with no personal contact is would be hard for some of these people to understand what they were getting into. My own grandchild has special needs so I am quite excited about this account. I plan to continue to champion this in my area and continue to reach out to families who can benefit from this plan. I do encourage any one with special needs to open a plan, it is fairly simple, esp when you have someone to talk to.
Mar 02, 2009 Rating
Bank of Montrel RDSP by: Anonymous
I filled out/faxed my form with BMO for the RDSP beginning of Feb because RBC hadn't made the announcement yet. They said it would contact me in 2 weeks, still haven't heard from them and it's Mar 2!! I've been calling their call centre today and the call just gets dropped and no more mention of RDSP in the menus. Complete joke. I think the fed dropped the ball on this one and the banks are doing their best. Should have waited a few more days and signed up with RBC who I'm an account holder with.
