RRSP Calculator 2026 — Tax Savings + Retirement Projection

Q: When to convert RRSP to RRIF?

Mandatorily before age 71. RRIF (Registered Retirement Income Fund) requires minimum annual withdrawals.

Q: Is the HBP withdrawal taxed?

No, if repaid per rules (15 years to repay, minimum 1/15 per year). Otherwise unrepaid amount becomes taxable.

RRSP allows you to deduct contributions from taxable income. At a 30% marginal rate, every $1,000 contributed saves ~$300 in tax. This calculator estimates your tax savings and projected RRSP value at retirement.

RRSP Calculator 2026

Gross annual income ($) Planned RRSP contribution this year ($) Marginal tax rate (%) Current RRSP value ($) Expected annual return (%) Years until retirement

RRSP vs TFSA: which to choose?

RRSP is better if your marginal tax rate is high now and you expect a lower rate in retirement. TFSA is better if your rate is currently low (student, first job). Many use both complementarily.

2026 RRSP Limit

The 2026 RRSP limit is the lesser of 18% of your previous year's earned income OR $32,490. Unused room carries forward indefinitely, so you can catch up later if needed.

Frequently Asked Questions

What is the 2026 RRSP limit?

18% of your 2025 earned income, max $32,490 for 2026. Check your CRA Notice of Assessment for exact amount.

RRSP or TFSA first?

If income >$55,000, RRSP first for tax deduction. If <$40,000, TFSA first. In between, depends on retirement plan.

When to convert RRSP to RRIF?

Mandatorily before age 71. RRIF (Registered Retirement Income Fund) requires minimum annual withdrawals.

Is the HBP withdrawal taxed?

No, if repaid per rules (15 years to repay, minimum 1/15 per year). Otherwise unrepaid amount becomes taxable.

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