How RRSP Contribution Room Works
RRSP contribution room is based on 18% of your earned income from the previous year.
There is also a maximum limit set each year by the federal government.
Unused contribution room carries forward indefinitely.
Example
Income: $70,000
Contribution room:
18% × 70,000 = $12,600
If you do not contribute this year, the room carries forward.
How to Check Your RRSP Room
You can find your RRSP contribution room:
- CRA My Account
- Notice of Assessment
- CRA mobile app