IFIC Welcomes Federal Changes to Protect RDSP Beneficiaries
March 21, 2019 (Toronto) – The Investment Funds Institute of Canada (IFIC) welcomes the changes announced in the Government of Canada’s 2019 budget related to Registered Disability Savings Plans (RDSP).
“We are pleased that the Government recognized that people with disabilities should be protected from financial hardship arising from the bankruptcy of contributors to their RDSPs,” said Paul Bourque, President and CEO, IFIC. “Disabled beneficiaries deserve similar creditor protections as beneficiaries of registered retirement savings plans and registered retirement income funds.”
In January 2018, IFIC made a submission to the Government of Canada, seeking an amendment to the Bankruptcy and Insolvency Act that would provide beneficiaries of RDSPs with creditor protection for all contributions made to their plans.
The Investment Funds Institute of Canada is the voice of Canada’s investment funds industry. IFIC brings together 150 organizations, including fund managers, distributors and industry service organizations, to foster a strong, stable investment sector where investors can realize their financial goals. By connecting Canada’s savers to Canada’s economy, our industry contributes significantly to Canadian economic growth and job creation.
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