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RRSP Calculator 2026: free simulation and projection
Use our free RRSP projection calculator to simulate your RRSP growth, calculate tax savings, and plan your retirement. Up-to-date 2026limits and calculations adapted to Quebec's tax system.
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Open the RRSP CalculatorRRSP Limits 2026
The RRSP contribution limit for 2026is set at 18% of the previous year's earned income, up to an annual maximum of approximately $32,490. This limit is indexed annually for inflation. Unused contribution room accumulates indefinitely and can be used in future years.
Key figures 2026
- • Annual limit: approximately $32,490
- • Contribution rate: 18% of earned income
- • Maximum age for contributions: 71 (mandatory conversion to RRIF by December 31)
- • Unused room: cumulative, no time limit
How the RRSP Works
The Registered Retirement Savings Plan (RRSP) is a tax-deferred account. Contributions are deductible from taxable income, reducing the tax payable in the year of the contribution. Investments grow tax-sheltered inside the RRSP, and tax is paid only upon withdrawal.
The fundamental principle of the RRSP is tax deferral: if your marginal rate is higher today than it will be in retirement, you save the difference. For example, a $10,000 contribution at a 45% marginal rate generates a tax saving of $4,500. If the withdrawal is made at a 30% rate, the tax paid will be $3,000, for a net gain of $1,500.
Eligible investments in an RRSP include GICs, mutual funds, segregated funds, bonds, publicly listed shares, and ETFs. Our RRSP projection calculator lets you simulate growth at different rates of return.
RRSP Tax Advantages in Quebec
In Quebec, the RRSP tax advantage is amplified by the two-level tax system. An RRSP contribution generates a deduction at both the federal and provincial levels. With a combined marginal rate that can reach 53.31%, the immediate tax saving is substantial.
Use our tax rate calculator to determine your exact marginal rate and quantify the tax saving from an RRSP contribution. For a complete overview of Quebec taxation, see our dedicated guide.
The Spousal RRSP
The spousal RRSP is an income-splitting tool that allows the higher-earning spouse to contribute to the lower-earning spouse's RRSP. The deduction is granted to the contributor, but the funds belong to the plan beneficiary.
The 3-year attribution rule applies: if the beneficiary withdraws funds within 3 calendar years of the contributor's last contribution, the withdrawal is taxed in the contributor's hands rather than the beneficiary's. After this period, withdrawals are taxed at the beneficiary's (generally lower) marginal rate.
The spousal RRSP is particularly useful before age 65, since pension income splitting is only available from age 65 for RRIF income. It allows couples to optimize withdrawals between ages 60 and 65.
Frequently Asked Questions
What is the RRSP contribution limit for 2026?
The RRSP contribution limit for 2026 is 18% of the previous year's earned income, up to a maximum of approximately $32,490. Unused contribution room from previous years accumulates and can be used at any time. Check your CRA Notice of Assessment for your exact limit.
What is the RRSP contribution deadline?
The deadline to contribute to an RRSP and claim a deduction for the previous tax year is generally March 1 of the current year (or March 2 if March 1 falls on a Sunday). Contributions made after this date apply to the current tax year.
Is the spousal RRSP still advantageous alongside the TFSA?
Yes, the spousal RRSP remains a relevant income-splitting tool, particularly for couples with a significant income gap and whose retirement is more than 3 years away (the 3-year attribution rule). It allows the couple to reduce their total tax at retirement by equalizing incomes. The TFSA does not replace this function because it does not provide income splitting.
Is it better to contribute to an RRSP or a TFSA?
The answer depends on your current marginal tax rate compared to your expected rate at retirement. If your current marginal rate is higher than it will be at retirement, the RRSP is generally more advantageous. If the rates are similar, the TFSA is often preferable because it offers more flexibility. Use our RRSP projection calculator to compare scenarios.
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Résumé en français : Cette page présente un guide sur le REER au Québec pour 2026, incluant les plafonds de cotisation, les avantages fiscaux dans le cadre du régime fiscal à deux niveaux du Québec, les règles du REER de conjoint et une calculatrice de projection REER gratuite. L'outil aide les conseillers financiers et les particuliers à simuler la croissance du REER et les économies d'impôt.