Registered Retirement Savings Plan (RRSP)
Contributions are tax-deductible, reducing your current taxable income while allowing investments to grow tax-deferred until withdrawal.
Wealth management products and services offered by:
Registered Retirement Savings Plan (RRSP)
Contributions are tax-deductible, reducing your current taxable income while allowing investments to grow tax-deferred until withdrawal.
Wealth management products and services offered by:
Registered Retirement Savings Plan (RRSP)
Contributions are tax-deductible, reducing your current taxable income while allowing investments to grow tax-deferred until withdrawal.
Wealth management products and services offered by:
RRSPs provide tax-deferred growth for long-term retirement security.
Annual Deduction Limit
For 2026, the maximum is $33,810. Your limit is the lesser of this cap or 18% of your 2025 earned income, minus pension adjustments.
Room Calculation & Carry-Forward
The CRA calculates your personalized room based on prior income and pension plans. Unused room never expires; it carries forward indefinitely to maximize future tax benefits.
Eligibility & Deadlines
Accumulation begins once you earn income and file taxes. You can contribute until December 31 of the year you turn 71, before converting to a RRIF.
RRSPs provide tax-deferred growth for long-term retirement security.
Annual Deduction Limit
For 2026, the maximum is $33,810. Your limit is the lesser of this cap or 18% of your 2025 earned income, minus pension adjustments.
Room Calculation & Carry-Forward
The CRA calculates your personalized room based on prior income and pension plans. Unused room never expires; it carries forward indefinitely to maximize future tax benefits.
Eligibility & Deadlines
Accumulation begins once you earn income and file taxes. You can contribute until December 31 of the year you turn 71, before converting to a RRIF.
RRSPs provide tax-deferred growth for long-term retirement security.
Annual Deduction Limit
For 2026, the maximum is $33,810. Your limit is the lesser of this cap or 18% of your 2025 earned income, minus pension adjustments.
Room Calculation & Carry-Forward
The CRA calculates your personalized room based on prior income and pension plans. Unused room never expires; it carries forward indefinitely to maximize future tax benefits.
Eligibility & Deadlines
Accumulation begins once you earn income and file taxes. You can contribute until December 31 of the year you turn 71, before converting to a RRIF.
Understanding the RRSP Account
Who could open an RRSP?
The RRSP is ideal for Canadian residents with earned income who are looking to reduce their current tax bill while building a long-term retirement nest egg. It is particularly effective for those currently in a high tax bracket who expect to be in a lower bracket during retirement.
Maximum Annual Deduction Limit
For the 2026 tax year, the maximum RRSP contribution is $32,490. Your individual limit is the lesser of this cap or 18% of your previous year's earned income, adjusted for any pension benefits.
Annual Room Calculation
The CRA calculates your personalized room annually based on prior income. This total is adjusted if you participate in employer-sponsored plans like an RPP or DPSP.
Indefinite Carry-Forward
Unused contribution room never expires. It carries forward indefinitely, allowing for larger future contributions when your income and potential tax benefits may be higher.
Age Eligibility and Deadlines
18-71 is the age of eligibility to open and invest in an RRSP. Once you turn 71, your RRSP will need to be converted to a RRIF.
Understanding the RRSP Account
Who could open an RRSP?
The RRSP is ideal for Canadian residents with earned income who are looking to reduce their current tax bill while building a long-term retirement nest egg. It is particularly effective for those currently in a high tax bracket who expect to be in a lower bracket during retirement.
Maximum Annual Deduction Limit
For the 2026 tax year, the maximum RRSP contribution is $32,490. Your individual limit is the lesser of this cap or 18% of your previous year's earned income, adjusted for any pension benefits.
Annual Room Calculation
The CRA calculates your personalized room annually based on prior income. This total is adjusted if you participate in employer-sponsored plans like an RPP or DPSP.
Indefinite Carry-Forward
Unused contribution room never expires. It carries forward indefinitely, allowing for larger future contributions when your income and potential tax benefits may be higher.
Age Eligibility and Deadlines
18-71 is the age of eligibility to open and invest in an RRSP. Once you turn 71, your RRSP will need to be converted to a RRIF.
Understanding the RRSP Account
Who could open an RRSP?
The RRSP is ideal for Canadian residents with earned income who are looking to reduce their current tax bill while building a long-term retirement nest egg. It is particularly effective for those currently in a high tax bracket who expect to be in a lower bracket during retirement.
Maximum Annual Deduction Limit
For the 2026 tax year, the maximum RRSP contribution is $32,490. Your individual limit is the lesser of this cap or 18% of your previous year's earned income, adjusted for any pension benefits.
Annual Room Calculation
The CRA calculates your personalized room annually based on prior income. This total is adjusted if you participate in employer-sponsored plans like an RPP or DPSP.
Indefinite Carry-Forward
Unused contribution room never expires. It carries forward indefinitely, allowing for larger future contributions when your income and potential tax benefits may be higher.
Age Eligibility and Deadlines
18-71 is the age of eligibility to open and invest in an RRSP. Once you turn 71, your RRSP will need to be converted to a RRIF.
Comparing the difference between a RRSP and an TFSA
Feature
RRSP
TFSA
Feature
RRSP
TFSA
Main Purpose
Long-term retirement savings.
Any goal (short, medium, or long-term).
Main Purpose
Long-term retirement savings.
Any goal (short, medium, or long-term).
Tax on Deposits
Tax-deductible. Contributions reduce your taxable income now.
None. Contributions are made with after-tax dollars.
Tax on Deposits
Tax-deductible. Contributions reduce your taxable income now.
None. Contributions are made with after-tax dollars.
Tax on Growth
Tax-deferred. You don't pay tax on earnings while they stay in the plan.
Tax-free. You never pay tax on investment growth or earnings.
Tax on Growth
Tax-deferred. You don't pay tax on earnings while they stay in the plan.
Tax-free. You never pay tax on investment growth or earnings.
Tax on Withdrawals
Taxed. Withdrawals are added to your income and taxed at your current rate.
Tax-free. Withdrawals are not considered taxable income.
Tax on Withdrawals
Taxed. Withdrawals are added to your income and taxed at your current rate.
Tax-free. Withdrawals are not considered taxable income.
Withdrawal Rule
Room is generally lost. Once you withdraw, you don't get that contribution room back.*
Room is added back. The amount you withdraw is added to your room the following year.
Withdrawal Rule
Room is generally lost. Once you withdraw, you don't get that contribution room back.*
Room is added back. The amount you withdraw is added to your room the following year.
2026 Contribution Limit
$33,810 (or 18% of earned income, whichever is lower).
$7,000 (plus any unused room from previous years).
2026 Contribution Limit
$33,810 (or 18% of earned income, whichever is lower).
$7,000 (plus any unused room from previous years).
Age Limit
Must close or convert to a RRIF by Dec 31 of the year you turn 71.
No age limit. You can contribute and hold the account for life.
Age Limit
Must close or convert to a RRIF by Dec 31 of the year you turn 71.
No age limit. You can contribute and hold the account for life.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Align your savings with your values
Start investing the halal way—anytime, anywhere. Access your portfolio, track performance, and build your wealth with confidence.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Align your savings with your values
Start investing the halal way—anytime, anywhere. Access your portfolio, track performance, and build your wealth with confidence.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Align your savings with your values
Start investing the halal way—anytime, anywhere. Access your portfolio, track performance, and build your wealth with confidence.
Investment fund and portfolio management services are provided through Corex Financial Inc.
Even more ways to grow your wealth
Disclaimer
Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
This information is for educational purposes. Should any conflict arise between the information presented here and the official CRA website, the CRA website is considered the correct source. Please consult with a licensed representative for further assistance.
Investment fund and portfolio management services are provided through Corex Financial Inc.*
Disclaimer
Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
This information is for educational purposes. Should any conflict arise between the information presented here and the official CRA website, the CRA website is considered the correct source. Please consult with a licensed representative for further assistance.
Investment fund and portfolio management services are provided through Corex Financial Inc.*
Disclaimer
Corex Financial Inc. ("Corex") offers wealth management products and services to Manzil customers. Corex Financial Inc. is a registered Portfolio Manager in each of the provinces and territories of Canada and as an Investment Fund Manager in the provinces of Ontario, British Columbia, Alberta, Newfoundland and Labrador, and Quebec. Assets in your Corex accounts are held with various custodians, each registered as an investment dealer with the applicable securities regulators. All custodians are members of the Canadian Investment Regulatory Organization (“CIRO”) and the Canadian Investor Protection Fund (CIPF). All trademarks are the property of their respective owners. Corex will determine what investments are suitable for you.
This website is to be used for information purposes only and is not intended to provide any financial, legal, accounting, or tax advice. No securities regulatory authority has assessed the merits of these securities or the information contained on this website.
Your capital is at risk with any type of investment. The value of your portfolio can increase or decrease. Past performance is no guarantee of future results. An investment may be risky and may not be suitable for an investor's goals, objectives, and risk tolerance. The value of investments and the income derived from investments will fluctuate and can go down as well as up. A loss of principal may occur.
This information is for educational purposes. Should any conflict arise between the information presented here and the official CRA website, the CRA website is considered the correct source. Please consult with a licensed representative for further assistance.
Investment fund and portfolio management services are provided through Corex Financial Inc.*