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The RRSP dollar limit for 2027 is $35,390, up from $33,810 in 2026. That is the most new room one person can earn for 2027, and it is based on 2026 earned income: 18% of it, up to the cap, minus any pension adjustment, plus unused room from earlier years. Your own number is on your CRA notice of assessment and in your CRA account.
What is the RRSP dollar limit for 2027?
The Canada Revenue Agency: MP, RRSP, DPSP, TFSA limits and YMPE table (page dated 28 October 2026) lists $35,390 as the RRSP dollar limit for 2027. That is $1,580 more than 2026. The same table already shows $36,390 for 2028. Here are the last five years as the CRA prints them.
| Year | RRSP dollar limit | Change from the year before |
|---|---|---|
| 2023 | $30,780 | $1,570 |
| 2024 | $31,560 | $780 |
| 2025 | $32,490 | $930 |
| 2026 | $33,810 | $1,320 |
| 2027 | $35,390 | $1,580 |
The dollar limit is a ceiling on the new room created for one year. It does not cap how much you can hold in an RRSP, and it does not say how much you personally may put in.
How is my own RRSP room for 2027 worked out?
Your RRSP deduction limit is built from your own tax history. The CRA guide Canada Revenue Agency: T4040 RRSPs and Other Registered Plans for Retirement sets out the steps in a chart. For the 2025 limit it uses 2024 figures, so for 2027 the inputs are your 2026 figures:
- Take 18% of your 2026 earned income, but no more than $35,390.
- Subtract your 2026 pension adjustment, which reflects the pension benefits you earned through a workplace plan.
- Add any pension adjustment reversals.
- Add the unused RRSP room you had at the end of 2026.
- Subtract any net past service pension adjustment.
The CRA describes earned income as employment earnings, self-employment earnings and certain other income, less specific employment expenses and business or rental losses. With no pension adjustment, you would need about $196,611 of earned income in 2026 to earn the full $35,390. Unused room carries forward, so someone who skipped contributions for years can hold far more room than a single year’s cap.
Where do I find my RRSP deduction limit?
The CRA points to three places on its page Canada Revenue Agency: where to find your RRSP deduction limit. One is the RRSP Deduction Limit Statement on your latest notice of assessment or reassessment. Another is your CRA account. The third is the automated phone service, where you confirm your identity with your SIN, name, date of birth, address and a tax document or account access. The CRA may also mail form T1028 if your limit changed.
The same page warns that later assessments or reassessments can change the calculation. Keep your own record of what you contributed and compare it with the CRA’s figure. We cover the steps in our page on the RRSP contribution limit, deduction limit and deadline.
What is the RRSP deadline for the 2026 tax year?
Contributions for a tax year can be made during that year and in the first 60 days after it. The CRA page Canada Revenue Agency: how contributions affect your deduction limit says that for the 2025 return, contributions made from 4 March 2025 to 2 March 2026 qualify. Counting the same way for the 2026 return gives 3 March 2026 to 1 March 2027. That is our count. The CRA page we checked on 31 October 2026 still showed the 2025 dates.
Money you put in during January and February 2027 can go on your 2026 return or be saved for a later year, because the CRA lets you claim unused contributions from a previous year. You deduct it on line 20800 of the return and keep the receipts. You can contribute to your own RRSP until 31 December of the year you turn 71. Most people file by 30 April 2027, and our 2027 tax calendar lists the other dates.
How much tax does an RRSP contribution save?
Take someone with $90,000 of employment income in Ontario who puts $10,000 into an RRSP. This uses 2026 tax rules, because 2027 federal rates have not been published yet. We ran it through the site’s tax engine and counted federal plus Ontario income tax only.
| Item | No contribution | $10,000 contribution |
|---|---|---|
| Employment income | $90,000 | $90,000 |
| RRSP deduction | $0 | $10,000 |
| Federal plus Ontario income tax | $17,033.55 | $14,068.55 |
The contribution cuts tax by $2,965, which is 29.65% of the amount and matches the marginal rate at that income. After the saving, the $10,000 costs $7,035, though the money is taxed again when it comes out of the RRSP, and this example leaves that out. On room: 18% of $90,000 is $16,200 of new room before any pension adjustment, so $10,000 fits. You can test your own numbers in our RRSP tax savings calculator or the RRSP calculator.
What happens if I contribute more than my room?
The CRA gives a cushion. You have an excess contribution when your unused contributions go above your deduction limit by more than $2,000, and that cushion applies only if you were 18 or older at some point in the year. Above it, the tax is generally 1% per month on the unused contributions. The CRA page Canada Revenue Agency: excess contributions adds that you file form T1-OVP no later than 90 days after the end of the year of the excess.
Say your deduction limit is $20,000 and you hold $23,000 of unused contributions. The amount above the limit and the cushion is $1,000, so the tax is $10 for each month it stays. Filing late adds a penalty of 5% of the balance owing, plus 1% for each month late, up to 12 months. The CRA says withdrawing an excess amount can avoid the tax in some cases, so read that page before you move money. Our article on the RRSP over-contribution penalty goes through it in more detail.
What could change or is still missing for 2027?
The $35,390 is printed by the CRA, but your room is personal. It moves with your 2026 earned income, your pension adjustment and any reassessment of earlier years. Federal tax brackets for 2027 have not been published yet (checked 31 October 2026), so any estimate of what a 2027 contribution saves is a guess until they are. The same goes for the 2027 TFSA limit, covered in our TFSA limit for 2027 article. For a side-by-side of the figures that are out and the ones that are not, see 2026 versus 2027 tax numbers, and read the older RRSP limit article for earlier years.
Where does this information come from?
Rules and figures come from the Canada Revenue Agency table of MP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and the YAMPE (page dated 28 October 2026), the pages on where to find your RRSP deduction limit, how contributions affect it and excess contributions, and the guide T4040 RRSPs and Other Registered Plans for Retirement. The worked example uses 2026 rules and the site’s own tax engine. Checked on 31 October 2026. This is an independent information site: we provide no services, we do not represent the CRA or any organization, we collect information from open sources, and we do not guarantee that anything here is accurate or current. We accept no liability for decisions based on it. Check the official source before you rely on it. See the full disclaimer.
Frequently asked questions
What is the RRSP contribution limit for 2027?
The RRSP dollar limit for 2027 is $35,390, according to the Canada Revenue Agency table of limits dated 28 October 2026. It was $33,810 in 2026. Your own limit is 18% of your 2026 earned income, up to that cap, adjusted for pension adjustments and unused room from earlier years.
Can I contribute $35,390 to my RRSP in 2027?
Only if your own deduction limit is that high. The $35,390 is the most new room one person can earn for 2027, based on 2026 earned income. Your real ceiling is the deduction limit on your notice of assessment or CRA account, which includes unused room carried forward and any pension adjustment.
What is the deadline for 2026 RRSP contributions?
Contributions for the 2026 tax year can be made until the 60th day of 2027, which is 1 March 2027 by our count. The CRA page for the 2025 return gives 2 March 2026 for last year. Confirm the date on the CRA page for your own return.
How much can I over-contribute to my RRSP without a penalty?
The CRA allows a cushion of $2,000 above your deduction limit if you were 18 or older during the year. Above that, unused contributions are generally taxed at 1% per month until the excess is fixed. Form T1-OVP is due 90 days after the end of the year.
Where do I find my RRSP room?
Check the RRSP Deduction Limit Statement on your latest notice of assessment or reassessment, sign in to your CRA account, or use the CRA automated phone service. The CRA may also mail form T1028. Later reassessments can change the figure, so keep your own contribution records.