Plan your Canadian retirement with our free RRSP and TFSA calculator. Enter your age, income, current savings, and monthly contributions to see how much you'll have at retirement. Includes 2026 RRSP contribution limits, TFSA room, and province-specific tax savings calculations for all 13 provinces and territories.
The RRSP contribution limit for 2026 is 18% of your 2025 earned income, up to a maximum of $32,490. Any unused contribution room from previous years carries forward indefinitely. You can find your exact limit on your CRA My Account or your latest Notice of Assessment.
The TFSA annual contribution limit for 2026 is $7,000. The cumulative TFSA room for someone who has been eligible since 2009 (when TFSAs were introduced) is $102,000 as of 2026. Unused room carries forward, and withdrawn amounts are re-added to your room the following January 1.
Generally: contribute to your RRSP first if you expect to be in a lower tax bracket in retirement than you are now (the tax deduction is worth more today). Contribute to your TFSA first if you expect to be in the same or higher tax bracket in retirement, or if your income is low. Many Canadians benefit from contributing to both.
You must convert your RRSP to a Registered Retirement Income Fund (RRIF) or annuity by December 31 of the year you turn 71. After conversion, you must withdraw a minimum amount each year based on your age, which is included in your taxable income.