A Registered Retirement Savings Plan (RRSP) is a Canadian retirement savings account with tax benefits. Contributions are tax-deductible and growth is tax-deferred.

What is my RRSP contribution limit?

Your RRSP contribution limit is 18% of your previous year's earned income, up to the annual maximum, plus any unused contribution room from previous years.

When should I contribute to my RRSP?

Contributing early in the year maximizes tax-deferred growth. You have until the first 60 days of the new year to make contributions for the previous tax year.

RRSP Contribution Limit Calculator

Overview

Calculate your RRSP contribution limit based on your annual income and government-set maximums for each year.

The RRSP Contribution Limit Calculator helps you determine your maximum Registered Retirement Savings Plan (RRSP) contribution limit. The calculator takes into account both the government-set annual maximum and the 18% of earned income rule to show you your actual contribution limit. For part-year employment, enter your employment start and end dates to calculate your prorated contribution limit.

How to use

Calculate your RRSP contribution and tax benefits in a few steps.

Enter your income: Input your annual income before taxes.
Enter contribution amount: Specify how much you plan to contribute to your RRSP.
Add tax information: Enter your marginal tax rate or province for accurate calculations.
Review tax savings: Check your tax refund, net contribution cost, and retirement savings projection.

FAQs

What is an RRSP?: A Registered Retirement Savings Plan (RRSP) is a Canadian retirement savings account with tax benefits. Contributions are tax-deductible and growth is tax-deferred.
What is my RRSP contribution limit?: Your RRSP contribution limit is 18% of your previous year's earned income, up to the annual maximum, plus any unused contribution room from previous years.
When should I contribute to my RRSP?: Contributing early in the year maximizes tax-deferred growth. You have until the first 60 days of the new year to make contributions for the previous tax year.