Your 2026 RRSP room is 18% of your 2025 income (max $32,490)
Find this on your latest CRA Notice of Assessment
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Open RRSP — Get $25 Free →What is an RRSP?
The Registered Retirement Savings Plan (RRSP) is Canada's primary retirement savings vehicle. Contributions reduce your taxable income dollar-for-dollar — if you contribute $10,000 and you're in a 40% combined tax bracket, you get roughly $4,000 back as a tax refund.
All growth inside an RRSP is tax-deferred — you don't pay tax on dividends, capital gains, or interest until you withdraw. The idea is to invest at a high tax rate now and withdraw at a lower rate in retirement. You must convert your RRSP to a RRIF (Registered Retirement Income Fund) by December 31 of the year you turn 71.
Your 2026 RRSP room is 18% of your 2025 earned income, up to a maximum of $32,490. Any unused room from prior years carries forward indefinitely — check your Notice of Assessment from CRA for your exact limit.