The RDSP, an unknown but powerful Canadian financial plan

The fintech TERRY helps people with disabilities to achieve financial independence

A few months after it was founded, the young Quebec fintech TERRY, whose mission is to help people with disabilities achieve financial independence, continues to grow at an accelerated pace. Since September 2021, the TERRY team has already helped more than 600 families to benefit from the Registered Disability Savings Plan (RDSP), This allows Canadians with disabilities to receive up to $90,000 in federal grants. By focusing its activities fully on the RDSP and basing its model on accessibility and cutting-edge technology, TERRY is able to provide tangible support to a population sadly forgotten by Canada’s financial industry.

“A person with a disability often faces challenges such as access to employment, long-term savings, and the additional costs associated with specialized care and equipment. Unfortunately, very few people sign up for an RDSP, either out of lack of awareness or discouragement, as the sign-up process at traditional institutions is very difficult.

I sincerely believe that it is imperative to make this plan much more accessible, to simplify its opening and to offer advice and personal support to all those who are eligible, since they can get $10,000 just by opening an account. There really is no reason to go without it,” says Michel-Alexandre Riendeau, President of TERRY.

The RDSP, a beneficial plan not known to the public

Created by the federal government in 2008, the Registered Disability Savings Plan (RDSP) is a tool that allows individuals up to age 49 with the Disability Tax Credit (DTC) to benefit from grants and bonds to achieve long-term financial security. It’s actually a registered savings account, similar to the Registered Retirement Savings Plan (RRSP) or the Registered Education Savings Plan (RESP).

The RDSP or REEI, is subsidized by the federal government, which pays a subsidy of up to 300% in addition to the savings amounts. This powerful financial plan can help people with disabilities* and their families achieve financial independence. Depending on family income, the government pays up to $1,000/year without making a contribution. This plan is retroactive for a 10-year period, allowing a new member who was eligible for 10 years to receive $10,000 immediately upon account opening.

* A severe and persistent impairment in physical or mental functioning, such as autism, type 1 diabetes, significant visual or hearing impairment, etc.

TERRY’s simplified platform

The platform developed by TERRY makes the plan more accessible by facilitating the opening process, firstly because the person with a disability can do it from the comfort of their own home. Through the TERRY platform, the person registers and is quickly contacted to receive all the necessary support. Registration forms are also filled out automatically and signed electronically, reducing the opening process to a few minutes compared to 90 to 120 minutes at a traditional facility.

The extraordinary contribution of the partners

The president, Michel Alexandre Riendeauand the first investors Jacob and Felix Dechatelets – who have mentored people with disabilities – who have surrounded themselves with partners and investors who share the same values ​​of support and mutual aid and want to change the lives of people with disabilities: Gino Sebastien and Martin Savard, Stéphane Rochon and Louis Morissette.

“My experiences with the Véro and Louis Foundation and with my sister who has cerebral palsy have taught me that too many families living with a disability are not maximizing their RDSP opportunities. Improving access to these sources of financial support is imperative and TERRY will fill a tremendous need.” explains Louis Morissette.

Some stats

In Quebec more than a million people have a disability 16% of the population 15 years and older, according to the 2017 Canadian Disability Survey. In Canada, according to the Survey of Savings for People with Disabilities, 2020, only 31.5% of eligible residents have opened an RDSP.

According to Statistics Canada (2021), there is clearly no awareness of this program, with nearly 75% of respondents (DTC-eligible individuals) either never having heard of it or not being very well informed.

About Terry

Through the use of technology, TERRY offers a simple and accessible solution to opening a Registered Disability Savings Plan (RDSP), which provides eligible Canadians with up to $90,000 in government grants. The mission is to provide personalized advice and guidance needed to get the most out of the plan. Learn more at


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