RRSP Contribution Limits History — Annual Maximums and the 18% Formula
RRSP Contribution Limits Table 2008-2027
Source: Canada Revenue Agency (CRA). The figures show the absolute annual maximum a taxpayer can contribute to their RRSP — for any taxpayer whose previous-year earned income exceeds the corresponding threshold. For lower incomes, see the formula below.
| Tax year | RRSP maximum limit | Earned income to hit the cap * |
|---|---|---|
| 2008 | $20,000 | ~$111,111 (2007) |
| 2009 | $21,000 | ~$116,667 (2008) |
| 2010 | $22,000 | ~$122,222 (2009) |
| 2011 | $22,450 | ~$124,722 (2010) |
| 2012 | $22,970 | ~$127,611 (2011) |
| 2013 | $23,820 | ~$132,333 (2012) |
| 2014 | $24,270 | ~$134,833 (2013) |
| 2015 | $24,930 | ~$138,500 (2014) |
| 2016 | $25,370 | ~$140,944 (2015) |
| 2017 | $26,010 | ~$144,500 (2016) |
| 2018 | $26,230 | ~$145,722 (2017) |
| 2019 | $26,500 | ~$147,222 (2018) |
| 2020 | $27,230 | ~$151,278 (2019) |
| 2021 | $27,830 | ~$154,611 (2020) |
| 2022 | $29,210 | ~$162,278 (2021) |
| 2023 | $30,780 | ~$171,000 (2022) |
| 2024 | $31,560 | ~$175,333 (2023) |
| 2025 | $32,490 | ~$180,500 (2024) |
| 2026 | $33,810 | ~$187,833 (2025) est. |
| 2027 | $34,990 | ~$194,389 (2026) est. |
* Previous-year earned income required to generate enough room (18%) to hit the current-year maximum.
How to calculate your personal RRSP contribution
The official CRA formula:
Detailed example for 2026
- 2025 earned income: $80,000
- 18% × $80,000 = $14,400
- 2026 annual maximum: $33,810
- Gross room = MIN($14,400, $33,810) = $14,400
- Pension Adjustment (employer plan): $3,000
- Carry-forward from previous years: $8,000
- Personal RRSP limit 2026 = $14,400 − $3,000 + $8,000 = $19,400
What counts as "earned income"?
For RRSP purposes, earned income includes:
- Salary and employment income (T4)
- Net self-employment / business income
- Alimony received (depending on agreement)
- Net rental income (property in your name)
- Disability benefits (depending on source)
Does NOT count: dividends, interest, capital gains, government pension benefits (OAS, CPP), employment insurance benefits.
RRSP deadlines — 2025-2027 calendar
You have 60 days after the calendar year-end to contribute and claim the deduction against the previous tax year.
- 2025 tax year: contribution deadline = Monday March 2, 2026 (March 1, 2026 falls on a Sunday)
- 2026 tax year: contribution deadline = Monday March 2, 2027
- 2027 tax year: contribution deadline = Monday March 1, 2028
Contributing after this date applies the contribution to the current year, not the previous one. CRA grants no extensions, even by a few hours.
Unused contribution room — indefinite carry-forward
Unlike many other countries' retirement accounts, the RRSP allows indefinite carry-forward of unused room:
- No expiry date on accumulated room
- Carried forward automatically by CRA on each Notice of Assessment
- Cumulative until your 71st birthday (RRSP age limit)
- Visible in CRA My Account under the "RRSP" tab ("Contribution room" section)
Strategy: Defer contributions when your marginal rate is low (student, parental leave, career transition) and contribute when the marginal rate is high (peak career years at 45-55). A deduction is worth more at a higher marginal rate.
RRSP over-contribution penalty
Unlike the TFSA, CRA tolerates a $2,000 lifetime over-contribution buffer without penalty — but the buffer generates no tax deduction. Beyond that:
- 1% per month on the excess above $2,000
- Form T1-OVP required for any excess beyond the buffer
- You can request a tax-free withdrawal (T3012A) if the mistake is recent and honest
Frequently asked questions
How do I calculate my personal RRSP contribution room?
Multiply your earned income from the previous year by 18%, then apply the annual maximum published by CRA. Example: 2025 earned income $80,000 → 18% = $14,400 (below the 2025 maximum of $32,490, so the lesser amount of $14,400 applies).
What is the 2026 RRSP contribution deadline?
The deadline to contribute to your RRSP for the 2026 tax year falls 60 days after the calendar year end: Monday March 2, 2027. CRA generally moves the deadline to the next business day when March 1 falls on a weekend.
Does unused RRSP room carry forward?
Yes, indefinitely. Unused room accumulates and carries forward until your 71st birthday. At 71, you must convert the RRSP to a RRIF or annuity, and personal RRSP contributions stop (spousal RRSP still possible if your spouse is under 71).
How much can I over-contribute to my RRSP?
CRA tolerates a $2,000 lifetime over-contribution buffer without penalty. Beyond that: 1% per month on the excess. The $2,000 buffer does not generate a tax deduction.
Does investment income count as earned income?
No. Dividends, interest, capital gains and passive rental income do NOT generate RRSP room. Only employment income, self-employment income, and certain pension income qualify.
Is the 2027 RRSP limit confirmed?
No. The 2027 limit (estimated at $34,990) is a projection based on CRA's official indexation. The final figure is released in fall 2026. Check canada.ca for the official number.
Can I contribute to a spousal RRSP?
Yes. Contributions to a spousal RRSP use YOUR room but deduct from YOUR income. Useful income-splitting strategy if your spouse will have lower retirement income.
What happens at age 71?
By December 31 of the year you turn 71, you MUST convert your RRSP to a RRIF (Registered Retirement Income Fund) or annuity. Otherwise CRA taxes the full balance as a withdrawal. One final contribution is allowed in the year you turn 71.
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