| Contribution deadline for 2026 | March 1, 2027 |
| 2026 RRSP dollar limit | $33,810 |
| Your room | 18% of 2025 earned income, plus unused room |
| Over-contribution buffer | $2,000, then 1% a month |
| FHSA | $8,000 a year, $40,000 lifetime |
How much an RRSP contribution saves
Your contribution is deducted from income, so it saves roughly your marginal rate. In Ontario for 2026, a $5,000 contribution saves about $1,217 on a $60,000 salary, $1,508 on $100,000 and $2,248 on $160,000. Run your own numbers with the RRSP refund calculator.
Finding your room
Your exact RRSP deduction limit for 2026 is on your 2025 Notice of Assessment and in CRA My Account. It is 18% of your 2025 earned income up to $33,810, plus room you didn’t use in earlier years, minus any pension adjustment from a workplace plan.
Contributions in January and February
Contributions made from January 1 to March 1, 2027 can be deducted on your 2026 return or a later one. You don’t have to deduct a contribution in the year you make it; carrying the deduction to a higher-income year can save more.
RRSP or FHSA first?
If you are a first-time home buyer, the FHSA usually comes first. Contributions are deductible like an RRSP, and withdrawals for a qualifying first home are tax-free and never repaid. Room starts only when you open the account: $8,000 a year, with up to $8,000 of unused room carried forward.
Frequently asked questions
Is the RRSP deadline March 1 or March 2, 2027?
March 1, 2027, the 60th day after the end of 2026. It falls on a Monday.
What is the 2027 RRSP limit?
The CRA publishes it in the fall. Your 2027 room will be 18% of your 2026 earned income up to that limit.