Language selection

Government of Canada / Gouvernement du Canada

Page details

Date modified:

Finding Details The most common reasons given for not opening an RDSP were: 1) not having enough money to save (46%); 2) lacking information about the RDSP program (29%); and 3) feeling it was too complicated (15%).

Sample size

  • 2,005

Initiative

Collection dates

  • October 19, 2021 to November 30, 2021

Adopter

Related priorities

This finding relates to the following National Financial Literacy Strategy priorities and target outcomes: 

Priority 2

Build and provide for diverse needs

  • Target outcome 2.1
Related headlines
Headline

Many Canadians with a disability experience difficulty with banking.

An effective financial ecosystem should be accessible to all Canadians. Understanding and improving banking accessibility for Canadians with disabilities will promote financial inclusion and equity.

The analysis is based on research and the findings supplied by the adopters of the National Financial Literacy Strategy Measurement Plan. The related findings can be found at the bottom of this page.

Source: Survey of Consumers' Awareness of their Financial Rights and Responsibilities, Survey on Savings for Persons with Disabilities
Related measures

The measure(s) below make up the Strategy-Aligned Measure (SAM) used to generate this finding. Please note that some SAMs require the use of multiple measures, while others work as a standalone measure. Refer to the Measures Library for more details.

Related

For those who have, or live with someone who has, a disability and have NOT opened an RDSP: Why have you not opened an Registered Disability Savings Plan (RDSP) for [yourself/the person with the disability]?

  • I do not have enough money to save
  • Don't want or don't need to save
  • For other reasons related to savings
  • Too complicated
  • Lack of information about the RDSP
  • I believe it may affect social assistance (e.g., income supplement, rent subsidy, eligibility for subsidized care)
  • Do not have a Social Insurance Number (SIN)
  • Temporary Disability Tax Credit (DTC) status
  • Other (Specify)
Opens in new tabContribute findings and Strategy-Aligned Measures

The Financial Consumer Agency of Canada does not endorse, directly or indirectly, any adopters of the Measurement Plan, nor does it make any representations or warranties, express or implied, concerning the adopters' products or services or their fitness for a particular purpose.

As an early user, your feedback is important to help us make the RDX and its features better for everyone. If you have any problems using the site or find any accessibility issues, please send us your feedback.