Question 1

What is the RRSP contribution limit in 2026?

Accepted Answer

The limit is $32,490 or 18% of your previous year's earned income, whichever is less.

Question 2

RRSP or TFSA, which should I choose?

Accepted Answer

An RRSP is advantageous if your tax rate at withdrawal will be lower than now. A TFSA is better if your income is lower or you want flexibility.

Question 3

How is the tax savings calculated?

Accepted Answer

The tax savings is the difference between tax paid without an RRSP contribution and tax paid with the contribution.

Question 4

Is the RRSP taxed on withdrawal?

Accepted Answer

Yes. RRSP withdrawals are added to your taxable income in the year of withdrawal.

RRSP Calculator 2026

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