BMO Partners with PLAN to Help Individuals with Disabilities

– Three-year sponsorship and partnership will focus on educating individuals about the benefits of the Registered Disability Savings Plan (RDSP)

– BMO Bank of Montreal will be offering a $4 discount on monthly Everyday Banking Plans to BMO RDSP beneficiaries


TORONTO, ONTARIO–(Marketwired – April 23, 2014) 

BMO Investments Inc. has announced that it is partnering with Planned Lifetime Advocacy Network (PLAN), a not-for-profit organization committed to ensuring the safety, security and well-being of those living with disabilities.

The three-year sponsorship and partnership will focus on educating individuals and their families about the Registered Disability Savings Plan (RDSP). The partnership will also help those with disabilities set up RDSPs in order to help with their financial future.

“With this partnership, we hope to continue to bring awareness to the RDSP, and help support the needs of individuals with disabilities in communities across Canada,” said Robert Armstrong, Vice President and Head of Managed Solutions, BMO Global Asset Management.

In December 2008, BMO became the first Canadian bank to offer RDSPs to the public. Today, BMO is Canada’s RDSP market leader with more than 32,000 customer accounts, over $620 million in assets under management and approximately 46 per cent share of the market.

Mr. Armstrong continued, “When Jim Flaherty introduced the RDSP in 2008, Canada showed the world how a smart, innovative policy can help provide financial security and independence for people with disabilities.”

In a recent Globe and Mail article, public health reporter André Picard noted: “Outside of financial circles, Jim Flaherty is best remembered as a relentless champion of Canadians with disabilities. The former finance minister created, most notably, the registered disability savings plan, a program designed to meet the needs of people with physical, developmental and psychiatric disabilities, that is unique in the world.”

“We’re thrilled to be partnering with BMO, a leader in the RDSP space, to promote the adoption of the RDSP and help individuals and their families through the process of setting one up,” said Tim Ames, Executive Director, PLAN. “We’re dedicated to working with governments and organizations like BMO to improve and integrate the RDSP with other disability benefits and programs.”

As of June 1, 2014, BMO Bank of Montreal will be offering a $4 discount on all monthly Practical, Plus, Performance, Premium and AIR MILES®† Everyday Banking Plans to BMO RDSP beneficiaries. To receive this discount against your plan, please visit your nearest BMO branch.

About the RDSP

The RDSP encourages families and individuals to save for the long-term financial security of persons with severe and prolonged disabilities. It is available to Canadians who are eligible for the Disability Tax Credit, and can provide “peace of mind” to parents and other contributors who may put a plan in place for a beneficiary with a disability. Benefits include:

  • Contributions grow on a tax-deferred basis.
  • Government incentives could add up to an additional $90,000 per individual.
  • Virtually no effect on most other disability-related benefits.
  • Payments can provide regular or lump sum income with no restriction for what the funds are used.

For more information on the RDSP, please visit:

®† Trade-mark of AIR MILES International Trading B.V., used under licence by Loyalty Management Group Canada Inc.

About BMO Investments Inc.

BMO Investments Inc. is a member of BMO Financial Group and part of the organization’s Private Client Group (PCG). PCG, BMO Financial Group’s wealth management businesses, serves a full range of client segments from mainstream to ultra-high net worth individuals and institutions, with a broad offering of wealth management products and solutions including insurance products. PCG operates in both Canada and the United States, as well as in Asia and Europe and had total assets under management and administration of $597 billion as at January 31, 2014.

About Planned Lifetime Advocacy Network (PLAN)

PLAN is a Canadian based organization with a mission to help individuals secure the future for those with disabilities. PLAN focuses on all aspects of a disabled individual’s life including family and friends, financial security, participation in the decision making process, and ability to make a contribution to society. PLAN regularly presents on various topics, including the RDSP, throughout Canada through their partnership networks. These presentations are often done with other disability specific support networks which helps broaden their reach in communities across Canada. PLAN is also the owner a dedicated website that focuses on providing individuals with information on the RDSP, recent changes, and how to get signed up for an account. For more information about PLAN, please visit

To view the photo associated with this press release, please visit the following link:

Media contacts:
Amanda Robinson, Toronto
amanda.robinson@bmo.comValerie Doucet, Montreal
Bronwyn Kent, Vancouver