RRSP
Last updated
A registered retirement savings plan lets you deduct contributions up to your deduction limit. Investments can grow inside the plan without annual tax on that growth. Withdrawals are generally included in income.
New room is tied to prior-year earned income, the annual dollar limit, and pension adjustments. The 2026 dollar limit is $33,810. Use the RRSP calculator only as an illustration. Your notice of assessment is the limit that already includes your history.
Methodology
The definition follows the CRA description of the deduction limit. The Home Buyers’ Plan and LLP are not explained here.