RRSP Contributions

An RRSP is a savings plan that is "registered" with Canada Revenue Agency (CRA). It allows you to save money for your retirement on a tax-advantaged basis. That means you don’t pay tax on the income your investments earn until you withdraw the money from your RRSP.

You may deduct any allowable contributions you make to your RRSP from your annual income. This will reduce the amount of income tax you pay. Any income earned in your RRSP is tax deferred until the funds are withdrawn. As long as your investments stay in your RRSP, any income earned compounds; your income will earn income. This can significantly increase the amount of money you will accumulate for retirement.

This table outlines the annual money purchase (MP), defined benefit (DB), registered retirement savings plan (RRSP) and deferred profit sharing plan (DPSP), as well as the year's maximum pensionable earnings (YMPE).

MP, DB, RRSP and DPSP limits, and the YMPE.
Year MP limit DB limit RRSP dollar limit DPSP limit
(1/2 MP limit)
YMPE
2018   1/9 tde money purchase limit $26,230    
2017 $26,230 $2,914.44 $26,010 $13,115 $55,300
2016 $26,010 $2,890.00 $25,370 $13,005 $54,900
2015 $25,370 $2,818.89 $24,930 $12,685 $53,600
2014 $24,930 $2,770.00 $24,270 $12,465 $52,500
2013 $24,270 $2,696.67 $23,820 $12,135 $51,100
2012 $23,820 $2,646.67 $22,970 $11,910 $50,100
2011 $22,970 $2,552.22 $22,450 $11,485 $48,300
2010 $22,450 $2,494.44 $22,000 $11,225 $47,200
2009 $22,000 $2,444.44 $21,000 $11,000 $46,300
2008 $21,000 $2,333.33 $20,000 $10,500 $44,900
2007 $20,000 $2,222.22 $19,000 $10,000 $43,700
2006 $19,000 $2,111.11 $18,000 $9,500 $42,100
2005 $18,000 $2,000.00 $16,500 $9,000 $41,100
2004 $16,500 $1,833.33 $15,500 $8,250 $40,500
2003 $15,500 $1,722.22 $14,500 $7,750 $39,900
2002 $13,500 $1,722.22 $13,500 $6,750 $39,100
2001 $13,500 $1,722.22 $13,500 $6,750 $38,300
2000 $13,500 $1,722.22 $13,500 $6,750 $37,600
1999 $13,500 $1,722.22 $13,500 $6,750 $37,400
1998 $13,500 $1,722.22 $13,500 $6,750 $36,900
1997 $13,500 $1,722.22 $13,500 $6,750 $35,800
1996 $13,500 $1,722.22 $13,500 $6,750 $35,400
1995 $15,500 $1,722.22 $14,500 $7,750 $34,900
1994 $14,500 $1,722.22 $13,500 $7,250 $34,400
1993 $13,500 $1,722.22 $12,500 $6,750 $33,400
1992 $12,500 $1,722.22 $12,500 $6,250 $32,200
1991 $12,500 $1,722.22 $11,500 $6,250 $30,500
1990 $11,500 $1,722.22 (Old limits) $5,750 $28,900