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Quick RRSP Facts

  • Contribution deadline for 2011 is February 29, 2012.
  • Maximum contribution amount for the 2011 taxation year is 18% of 2010 earned income to a maximum of $22,450
  • Contribution limits may be adjusted to reflect contributions to a pension, contribution carried forward from previous years and/or registered retirement savings plan (RRSP) contributions carried forward from a previous tax year.
  • Your personal contribution limit is calculated by Canada Revenue Agency (CRA) and reported annually on your notice of assessment.
  • Contributing to an RRSP for your spouse may deliver tax benefits if you are in a higher tax bracket than your spouse.
  • The maximum age to contribute to an RRSP is 71.

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