Used to calculate your marginal rate and RRSP room
Projected RRSP at Retirement
Your 2026 RRSP Room
Contribute by March 3, 2025 to claim on your 2026 return.
Growth Milestones
RRSP Calculator — FAQ
Common questions about RRSP contributions, limits, and tax savings for 2026.
What is the 2026 RRSP contribution limit?
The 2026 RRSP contribution limit is $31,560, or 18% of your 2023 earned income — whichever is lower — plus any unused RRSP room carried forward from prior years. You can find your exact limit on your 2023 Notice of Assessment from CRA.
When is the RRSP deadline for 2026?
To claim an RRSP deduction on your 2026 tax return, contributions must be made by March 3, 2025 (60 days after December 31, 2026). Contributions made between January 1 and March 3, 2025 can be applied to either 2026 or 2025.
How much tax does an RRSP contribution save?
Your RRSP tax refund equals your contribution multiplied by your combined federal + provincial marginal tax rate. At a 40% combined marginal rate, a $10,000 contribution saves $4,000 in taxes. The higher your income, the more you save — which is why RRSP contributions are most powerful for higher earners.
RRSP vs TFSA — which is better?
Generally: RRSP is better when your income now is higher than it will be in retirement (the typical scenario). The deduction today at a high rate offsets the tax you'll pay on withdrawal at a lower rate. TFSA is better for low-income years, first-time home buyers, or when you expect higher income in retirement than now.
What does "compound growth" mean in an RRSP?
Inside an RRSP, all investment returns grow tax-free until withdrawal. There's no annual tax on dividends, interest, or capital gains earned inside the plan. This tax-sheltered compounding dramatically accelerates growth over long time horizons — the difference between a 6% RRSP return and a 6% non-registered return is meaningful over 25+ years.