Project RRSP growth and estimate your annual tax refund by province. 2025 limit: $33,810.
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RRSP Details
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Results
Projected RRSP Value
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Total Contributed
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Tax-Deferred Growth
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Est. Annual Tax Refund
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Your 2026 RRSP Limit
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Combined Marginal Rate
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RRSP 2026 Key Facts
2026 RRSP limit: $33,810 (18% of 2024 earned income, whichever is less). Deadline: March 3, 2026. Must convert to RRIF by December 31 of the year you turn 71.
Home Buyers' Plan (HBP)
First-time buyers can withdraw up to $60,000 tax-free from RRSP for a home purchase (updated 2024). Repay over 15 years. Funds must have been in the RRSP for at least 90 days.
Frequently Asked Questions
Contribute as early in the year as possible — not at the last-minute March deadline — to maximize compounding time. Setting up automatic monthly contributions is even better: it dollar-cost averages and removes the annual challenge of finding a lump sum.
You get a $2,000 lifetime over-contribution buffer before penalties apply. Beyond that, the CRA charges 1% per month. Unlike TFSA over-contributions, this $2,000 buffer is helpful — some people deliberately carry a small over-contribution to get a head start on next year.
Draw down your RRSP/RRIF in lower-income years (e.g., before CPP and OAS begin) to minimize the marginal rate paid. Withdrawing $20,000/year at a 20% rate is far better than being forced into $40,000/year withdrawals at 33% after RRIF conversion.
⚠️ Marginal rates are simplified estimates. Actual RRSP room: check your CRA Notice of Assessment.
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