RRSP Calculator Canada 2026 — Contribution Room + Tax Refund

2025 Employment Income

Province

RRSP Contribution (This Year)

Existing RRSP Balance

Expected Annual Return

Years Until Retirement

2026 RRSP Room

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18% of 2025 income, max $32,490

Estimated Tax Refund

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on your contribution

RRSP at Retirement

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projected balance

Year	Cumulative Contributions	Investment Growth	Total Balance

RRSP Annual Limits

Unused RRSP room carries forward indefinitely. Check CRA MyAccount for your exact available room including all carryforward amounts.

2026 limit: 18% of 2025 earned income, max $32,490
Deadline: March 3, 2026 for 2025 tax year deduction
Carryforward: Unused room accumulates indefinitely since 1991
Spousal RRSP: Contribute to spouse's RRSP for income-splitting in retirement
Over-contribution: $2,000 lifetime buffer; 1%/month penalty beyond

Conversion deadline: Must convert to RRIF by Dec 31 of year you turn 71
Home Buyers' Plan: Withdraw up to $35,000 tax-free for first home (repay within 15 years)
Lifelong Learning Plan: Up to $20,000 ($10K/year) for full-time education
Early withdrawal tax: 10% withheld on ≤$5K; 20% on $5K–$15K; 30% above $15K
All withdrawals: Added to taxable income in the year of withdrawal

RRSP wins if: You earn more now than you will in retirement (typical for most Canadians)
TFSA wins if: You expect same or higher income in retirement
Income <$50K: TFSA usually better — marginal rate too low for RRSP to matter much
Income $50K–$100K: Split between both
Income >$100K: Max RRSP first for immediate tax savings

Open FHSA: $8,000/year, $40,000 lifetime, fully tax-deductible and tax-free at withdrawal
RRSP HBP: $35,000 per person, tax-free withdrawal for first home (repay over 15 years)
Combined per couple: Up to $150,000 toward a down payment
FHSA stacks on top of RRSP room — both deductible in the same year