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RRSP Deduction Limits

Your RRSP deduction limit can be found on your Notice of Assessment or Notice of Reassessment that you receive from the Canada Revenue Agency. The deduction limit is calculated as:

• 18% of "earned income" for the preceding year, to an annual maximum (see the following table)
• less the "pension adjustment" amount, for participants in a Registered Pension Plan (RPP) or Deferred Profit Sharing Plan (DPSP)
• less any "past service pension adjustment", for participants in a RPP or DPSP
• plus any "past service pension adjustment" reversals
• plus unused deduction room carried forward from the previous year

Year RRSP limit 1990 (Old limits) 1991 $11,500 1992 $12,500 1993 $12,500 1994 $13,500 1995 $14,500 1996 $13,500 1997 $13,500 1998 $13,500 1999 $13,500 2000 $13,500 2001 $13,500 2002 $13,500 2003 $14,500 2004 $15,500 2005 $16,500 2006 $18,000 2007 $19,000 2008 $20,000 2009 $21,000 2010 $22,000 2011 $22,450 2012 $22,970 For each year after 2010, the limits are indexed for inflation using the Industrial Aggregate average wages and salaries in Canada.