What this assumes

Each row covers a full calendar year, starting with the year you entered. Enter your balance and contribution room as of January 1, before that year's contributions. Contribution room means the amount you can still contribute. Do not combine today's balance with a full year of future contributions. Future contribution limits and tax rates are assumptions, not confirmed future rules.

New contribution room starts with 18% of the previous year's earned income, up to the 2026 limit of $33,810, then subtracts the pension adjustment. New room cannot be below zero. Unused room from earlier years is added to this amount; the annual limit does not cap your total accumulated room. Check the result against your CRA statement before contributing.

For future years, new room uses the employment income you entered, the same pension adjustment and a fixed $33,810 annual limit. Pension adjustment reversals (PAR), net past service pension adjustments (PSPA) and other special adjustments are excluded. Do not include room already used by contributions you have not yet deducted; those earlier contributions are not deducted again in this example.

This savings plan must end by the year you turn 71. Use Account Drawdown for converting an RRSP to a Registered Retirement Income Fund (RRIF) and taking retirement withdrawals. The estimated balance after withdrawal tax uses one tax rate for the whole balance; it is not a withdrawal schedule.

Estimated tax savings are the difference in federal and provincial income tax before and after eligible deductions, using your employment income and province. These deductions do not reduce Canada Pension Plan (CPP) or Employment Insurance (EI) deductions. Tax savings are not a guaranteed refund and are not added to the projected account balance or reinvested.

This example includes employment income only. It excludes other income, other deductions, many personal and family tax credits, and complex tax returns. It assumes the same income and province each year and uses 2026 tax rules throughout. It is not a forecast of future tax savings. Québec is not supported.

The calculator claims new cash contributions as tax deductions each year, up to that year's estimated taxable income. Any amount left over is carried into later years. This is a calculation assumption, not a recommendation about when to claim deductions. Contributions made before the starting year but not yet deducted are excluded from estimated tax savings.

This example assumes you meet the account's eligibility and residency requirements; it does not confirm that you qualify. Check your eligibility, contribution room and account records before contributing. Your account balance does not tell you how much you can still contribute.

The calculator uses fixed yearly investment returns after fees. This is an example, not a forecast. Actual returns vary; losses, especially early in retirement, can greatly change the result. Amounts are in Canadian dollars and rounded for display.

Sources

• CRA: RRSP limits and room — https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/contributing-a-rrsp-prpp/contributions-affect-your-rrsp-prpp-deduction-limit.html
• CRA: annual RRSP ceilings — https://www.canada.ca/en/revenue-agency/services/tax/registered-plans-administrators/pspa/mp-rrsp-dpsp-tfsa-limits-ympe.html
• CRA: 2026 tax brackets — https://www.canada.ca/en/revenue-agency/services/tax/individuals/tax-rates-brackets/current-year.html
• CRA: 2026 provincial tax formulas — https://www.canada.ca/en/revenue-agency/services/forms-publications/payroll/t4127-payroll-deductions-formulas/t4127-jul/t4127-jul-payroll-deductions-formulas.html

These estimates are for learning and planning, not investment, insurance or tax advice. All amounts are in Canadian dollars. Results are rounded and are not guaranteed.