RRSP contribution limit

How much can I contribute to my RRSP?

Contribution Room

The RRSP deadline to contribute to your plan is coming up, and you may be wondering how much you can contribute to your Common Wealth plan.

2021 RRSP deadline to contribute to your plan is Monday, February 28th, at 11:59 pm EST.

Contact the CRA

You can get your contribution room online through the CRA’s My Account service. If you have not yet created an account, you can contact the Canada Revenue Agency at 1-800-267-6999.

Log in to your CRA Account

Paper Notice of Assessment

You can also check your last notice of assessment or reassessment notice from the CRA to find your RRSP deduction limit.

RRSP limit NOA

 

Don’t forget the TFSA

Your Common Wealth plan also comes with a TFSA. That means you can contribute another $6,000 to your retirement plan. Many people don’t think to use TFSAs for retirement, but every dollar of retirement income you withdraw from a TFSA is 100% tax-free.

Tax Refunds

If it looks like you might be getting a tax refund in the spring, you can consider putting it to work in your Common Wealth plan.

Need Help?

Have questions about contributing to your Common Wealth plan? Contact one of our retirement specialists.

Common Wealth

Common Wealth

Common Wealth is on a mission to make it possible for every Canadian to have a financially secure retirement. We provide a quick and easy retirement planning and saving experience, powered by a turnkey digital platform.

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