RRSP Calculator

RRSP Calculator (Registered Retirement Savings Plan)

Estimate your contribution room, tax refund, and projected RRSP value at retirement.

Estimated tax refund this year $0
Maximum contribution room this year (18% of income, capped at $33,810)$0
Current marginal tax rate0%
Projected RRSP value at retirement$0
2026 RRSP contribution room: 18% of last year's taxable income, up to a maximum of $33,810 (this does not include any unused contribution room carried forward from prior years). Estimated tax refund = contribution amount × current marginal tax rate (federal + provincial). The retirement projection assumes steady annual contributions at a constant expected rate of return — actual investment returns will vary with the market.
This tool provides estimates for general informational purposes only and does not constitute financial, insurance, tax, or legal advice. Actual figures may vary depending on your lender/insurer, individual circumstances, and current market conditions. InsureFiHub is not responsible for financial decisions made based on these results.

An RRSP contribution does double duty — it grows tax-deferred toward retirement, and it reduces your taxable income today, generating a tax refund at your marginal rate. This calculator estimates your available contribution room, your expected refund, and how your RRSP could grow by retirement.

How This Calculator Works

Your contribution room for 2026 is 18% of last year's taxable income, up to a maximum of $33,810 (not including any unused room carried forward from previous years). Your tax refund is estimated as your contribution amount multiplied by your current marginal tax rate (federal plus provincial combined) — so the same contribution is worth more to a higher-income earner in a higher tax bracket. The retirement projection assumes steady annual contributions compounding at a constant expected rate of return, which is a simplification — actual investment returns will vary year to year.

Frequently Asked Questions

How much can I contribute to my RRSP in 2026?

Your limit is 18% of your prior year's earned income, up to a hard maximum of $33,810 for 2026 — plus any unused contribution room carried forward from previous years, which this calculator doesn't include. Check your Notice of Assessment from the CRA for your exact, official contribution room.

Why does my RRSP refund depend on my tax bracket?

An RRSP contribution reduces your taxable income, so it's refunded at your marginal tax rate — the rate on your last dollar earned. That means the same $5,000 contribution generates a bigger refund for someone in a 40% marginal bracket than for someone in a 25% bracket.

RRSP or TFSA — which should I contribute to first?

It often depends on your current versus expected future tax bracket: RRSPs tend to make more sense when your marginal rate is high now and expected to be lower in retirement, while TFSAs are more flexible and often favoured by lower-income earners or those who expect a similar or higher tax rate later. Many people use both.

What happens to unused RRSP contribution room?

Unused room carries forward indefinitely — it doesn't expire — so if you don't contribute the maximum in a given year, that room adds to what you can contribute in future years, on top of the new room you earn from that year's income.