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Reference · 2027 tax year

RRSP & TFSA Limits 2027

The 2027 RRSP dollar limit is announced and follows from the Income Tax Act. The 2027 TFSA dollar limit is not yet published: CRA is expected to publish it late November to 1 December 2026; the 2026 limit stands beside it for comparison.

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What is the RRSP limit for 2027?

$35,390

The limits are ceilings, not your room. Your RRSP room is on your notice of assessment, and your TFSA room is the year’s limit plus unused room plus last year’s withdrawals, less this year’s contributions[2, 5]. An RRSP deduction defers tax and does not remove it.

RRSP limit
Announced by CRA on October 30, 2025, up $1,580 from $33,810[1, 2, 3]
TFSA limit
Pending expected late November to 1 December 2026[1]; $7,000 in 2026[1, 2]
Your own RRSP limit
The lesser of that dollar limit and 18% of last year’s earned income[3, 4]
Checked
October 14, 2026
The TFSA dollar limit, every year since it began, and 2027 still to come$5,000 in 2009, indexed since, with 2015 alone at $10,000. The 2009 to 2026 limits add up to $109,000 of room.
  1. 2009 to 2012[2]$5,000
  2. 2013 to 2014[2]$5,500
  3. 2015[2]$10,000
  4. 2016 to 2018[2]$5,500
  5. 2019 to 2022[2]$6,000
  6. 2023[2]$6,500
  7. 2024 to 2026[2]$7,000
  8. 2027Pending, expected about 29 Nov to 1 Dec 2026 [2, 5]Pending
CRA’s table of annual TFSA limits[2]; the total is our sum.

Canada Revenue Agency

2027 limits at a glance

The RRSP dollar limit, 2027 beside 2026$35,390 for 2027, up $1,580 from $33,810.
  1. RRSP dollar limit, 2027[1, 2, 3]$35,390
  2. RRSP dollar limit, 2026[1, 2]$33,810
Each bar carries the marker of its document.

Pending The 2027 TFSA dollar limit is not yet announced. Expected to be announced late November to 1 December 2026; this page updates the day it's published.

CRA's What's new page dates the TFSA announcement 2023-11-29 (for 2024), 2024-11-29 (for 2025) and 2025-12-01 (for 2026).[1]

2027 RRSP and TFSA limits compared with 2026
Item20272026 for comparison
RRSP dollar limitThe most a year can add to anyone’s deduction limit$35,390[1, 2, 3]Announced$33,810[1, 2]
TFSA dollar limitThe new room every adult gets for the yearPendingexpected about 29 Nov to 1 Dec 2026$7,000[1, 2]
Total TFSA room since 2009Our sum of CRA’s annual limits, for someone eligible every yearPendingexpected about 29 Nov to 1 Dec 2026$109,000[2]
The two plans side by side, 2027 beside 2026The RRSP limit is $35,390 and the TFSA limit was $7,000 in 2026. They are different kinds of room: the RRSP limit is capped by your income, the TFSA limit is not.
  1. RRSP dollar limit, 2027[1, 2, 3]$35,390
  2. RRSP dollar limit, 2026[1, 2]$33,810
  3. TFSA dollar limit, 2027Pending, expected about 29 Nov to 1 Dec 2026Pending
  4. TFSA dollar limit, 2026[1, 2]$7,000
Each bar carries the marker of its document.
2027 RRSP rules and room compared with 2026
Item20272026 for comparison
Share of last year’s earned incomeThe other cap on the RRSP deduction limit18%[3, 4]Set in law18%[3]
Earned income that reaches the full RRSP limitEarned in 2026; our arithmetic on CRA’s two numbers$196,611[1, 2, 3, 4]Announced$187,833[1, 2, 3]
Money purchase limitSets the RRSP dollar limit for the year after; the 2026 limit set 2027’sPendingexpected around Nov 1, 2026$35,390[2]
RRSP over-contribution bufferAbove it, a monthly tax applies$2,000[4]Set in law$2,000[4]

Where your tax goes first. The deduction comes off your top bracket, so see the 2027 tax brackets. Contributions to CPP and EI are separate: see the 2027 CPP rates and the 2027 EI rates, or run your own numbers in the Alberta tax calculator.

The rule

How each limit is set

Earned income that reaches the full RRSP limit$196,611 of 2026 earnings reaches the 2027 limit, against $187,833 a year earlier. Our arithmetic.
  1. For the 2027 limit (income earned in 2026)[1, 2, 3, 4]$196,611
  2. For the 2026 limit (income earned in 2025)[1, 2, 3, 4]$187,833
CRA’s limit and the 18% rule[3, 4].

RRSP. The Income Tax Act sets a year’s RRSP dollar limit equal to the money purchase limit of the year before. The 2026 money purchase limit is $35,390[1, 2, 6], which is why the 2027 RRSP limit is $35,390[1, 2, 3]. The 2027 money purchase limit is pending; it sets the 2028 RRSP limit, and CRA is expected to publish it around 1 November 2026[1].

Your limit. Your deduction limit is the lesser of the RRSP dollar limit and 18% of your earned income for the year before, less any pension adjustment, plus unused room[3, 4]. Go over your limit by more than $2,000 and CRA charges 1% a month on the excess[4].

Your 2027 RRSP room, as CRA works it outThe lower of the two caps, then the pension adjustment off and unused room back on.
The lower ofthe dollar limit, $35,390or18% of 2026 earned income
Pension adjustmentthe value your workplace pension plan built up for you last year
Unused roomcarried forward from earlier years
CRA’s deduction limit rule[1, 2, 3, 4].

TFSA. The TFSA dollar limit is $5,000 adjusted for inflation since 2009 and rounded to the nearest $500[2, 5]. Room starts to build at 18[7]. The inflation measure is the Consumer Price Index for the 12 months to September 30, so the figure cannot be known before Statistics Canada reports September.

drained.ca does not publish an estimate of the 2027 TFSA limit. The only 2027 TFSA figure this page will show is CRA’s.

Questions people ask

What is the RRSP contribution limit for 2027?

The RRSP dollar limit for 2027 is $35,390, up $1,580 from $33,810 in 2026. CRA announced it on October 30, 2025. It is the most anyone can add to their deduction limit in a year. Your own limit is the lesser of that dollar limit and 18% of your earned income from the year before, plus any room you have not used.

What is the TFSA limit for 2027?

CRA has not published it yet. CRA is expected to publish it late November to 1 December 2026. CRA's What's new page dates the TFSA announcement 2023-11-29 (for 2024), 2024-11-29 (for 2025) and 2025-12-01 (for 2026). The 2026 limit is $7,000. By law the limit is $5,000 adjusted for inflation since 2009 and rounded to the nearest $500.

TFSA room piling up for someone eligible since 2009The annual limits add up to $109,000 by 2026; the 2027 limit adds to it once CRA publishes it. The earlier totals are our arithmetic on CRA’s table.
  1. By the end of 2012[2]$20,000
  2. By the end of 2015[2]$41,000
  3. By the end of 2018[2]$57,500
  4. By the end of 2022[2]$81,500
  5. By the end of 2026[2]$109,000
Running total of CRA’s annual limits[2]. CRA states no total.

Where a 2027 rate is not announced yet, the figure is a projection; your return may differ.

More questions

When is the 2027 TFSA limit announced?

CRA usually announces the next year's TFSA limit in late November or on December 1. CRA's What's new page dates the TFSA announcement 2023-11-29 (for 2024), 2024-11-29 (for 2025) and 2025-12-01 (for 2026). The 2027 limit has not been announced.

Can I trust a 2027 TFSA limit I saw on a blog or calculator?

Only CRA sets it, and where it has not published one, any figure online is a guess. None is in a CRA or Department of Finance source, so this page does not use one. The rule is in the Income Tax Act: $5,000 indexed to the Consumer Price Index for the 12 months to September 30, rounded to the nearest $500. Statistics Canada's September inflation figure is the last input.

The second look

What the plans cost Ottawa

Ottawa’s own estimate of the tax each plan forgoesFinance Canada projects $18.5 billion for the RRSP family and $5.5 billion for the TFSA in 2027. These are Ottawa’s numbers.
  1. RRSP, PRPP and SPP, 2027 (projected)[8]$18.5 billion
  2. RRSP, PRPP and SPP, 2026 (projected)[8]$17.4 billion
  3. TFSA, 2027 (projected)[8]$5.5 billion
  4. TFSA, 2026 (projected)[8]$4.7 billion
Department of Finance Canada, tax expenditures[8].

Ottawa’s figure, as Ottawa gives it. Finance Canada’s report projects the RRSP, PRPP and SPP tax expenditure at $18.5 billion in 2027, from $17.4 billion in 2026, and the TFSA at $5.5 billion, from $4.7 billion[8]. That is the government’s estimate of tax it does not collect, and its best case for the plans is that they encourage saving. Finance’s RRSP estimate is a net figure: the tax deferred on contributions and on investment income inside the plans, minus the tax collected on withdrawals. The TFSA estimate is the tax forgone on investment income earned in the accounts, since contributions are made from income that was already taxed.

An RRSP deduction defers tax and does not remove it. Finance Canada describes it as a deferral: contributions are deductible from income, the investment income is not taxed as it accrues, and withdrawals are included in income[8]. Our read: the deduction saves money only if your tax rate in retirement is lower than the rate it came off. At the same rate it is a delay.

The TFSA works the other way. Contributions are not deductible, and investment income and withdrawals are not included in income for tax purposes[8]. The tax is not delayed, it is never collected on the growth.

The RRSP delays the tax. The TFSA takes it first and never again.Red is where the tax is paid.

RRSP

  1. Money inDeducted from income
  2. GrowthNot taxed while inside
  3. Money outTaxed as income

TFSA

  1. Money inFrom income already taxed
  2. GrowthNever taxed
  3. Money outNot taxed
Department of Finance Canada, tax expenditures[8].

Last questions

How much do I need to earn to reach the full RRSP limit?

The $35,390 limit is reached with $196,611 of earned income in 2026, because the deduction limit is 18% of the previous year's earned income. This is our arithmetic on CRA's two numbers. Employer pension plan contributions reduce your room, so your notice of assessment has the number that counts.

How much total TFSA room has there been since 2009?

Adding CRA's annual limits from 2009 to 2026 gives $109,000 for someone who was 18 and a Canadian resident the whole time. CRA does not state this total; it is our sum of CRA's table. The 2027 total waits for the 2027 limit.

Do RRSP contributions save tax or only delay it?

They delay it. Finance Canada describes the RRSP as a deferral: contributions are deductible, income inside the plan is not taxed as it builds, and withdrawals are included in income. The TFSA is the reverse: contributions are not deductible and withdrawals are not taxed. Finance projects the RRSP, PRPP and SPP tax expenditure at $18.5 billion in 2027 and the TFSA at $5.5 billion.

Sources

What this page rests on8 documents from 3 publishers, each one linked in the list below.
  1. Canada Revenue Agency4 documents
  2. Department of Justice Canada (Justice Laws Website)3 documents
  3. Department of Finance Canada1 document
Checked against these documents on October 14, 2026. Read between October 14, 2026 and October 14, 2026.
Show the 8 documents

Each bracketed number on this page links to the document below that contains the figure, with the table, row or section. Checked against these documents on October 14, 2026.

  1. [1]Canada Revenue Agency, What's new - Savings and pension plan administration, last modified September 1, 2026. Where: Section "General", entries dated 2023-11-29, 2024-11-29 and 2025-12-01 (TFSA); Section "General", entries dated 2023-11-01, 2024-11-01 and 2025-10-30; Entry dated 2025-10-30: "2027 registered retirement savings plan (RRSP) limit will be $35,390"; Entry dated 2024-11-01: "2026 registered retirement savings plan (RRSP) limit will be $33,810"; Entry dated 2025-12-01: "2026 TFSA dollar limit will be $7,000"; Entry dated 2025-10-30: "2026 money purchase (MP) limit will be $35,390".
  2. [2]Canada Revenue Agency, MP, DB, RRSP, DPSP, ALDA, TFSA limits, YMPE and the YAMPE, last modified December 1, 2025. Where: Table 1, row 2027, column "RRSP dollar limit" ($35,390); Table 1, row 2026, column "RRSP dollar limit" ($33,810); Table 2 "TFSA and ALDA dollar limits": no 2027 row; Table 2, row 2026 ($7,000); Table 1, row 2026, column "MP limit" ($35,390); Table 2 "TFSA and ALDA dollar limits", row 2009 ($5,000); Table 2 "TFSA and ALDA dollar limits", row 2010 ($5,000); Table 2 "TFSA and ALDA dollar limits", row 2011 ($5,000); Table 2 "TFSA and ALDA dollar limits", row 2012 ($5,000); Table 2 "TFSA and ALDA dollar limits", row 2013 ($5,500); Table 2 "TFSA and ALDA dollar limits", row 2014 ($5,500); Table 2 "TFSA and ALDA dollar limits", row 2015 ($10,000); Table 2 "TFSA and ALDA dollar limits", row 2016 ($5,500); Table 2 "TFSA and ALDA dollar limits", row 2017 ($5,500); Table 2 "TFSA and ALDA dollar limits", row 2018 ($5,500); Table 2 "TFSA and ALDA dollar limits", row 2019 ($6,000); Table 2 "TFSA and ALDA dollar limits", row 2020 ($6,000); Table 2 "TFSA and ALDA dollar limits", row 2021 ($6,000); Table 2 "TFSA and ALDA dollar limits", row 2022 ($6,000); Table 2 "TFSA and ALDA dollar limits", row 2023 ($6,500); Table 2 "TFSA and ALDA dollar limits", row 2024 ($7,000); Table 2 "TFSA and ALDA dollar limits", row 2025 ($7,000); Table 2 "TFSA and ALDA dollar limits", row 2026 ($7,000).Note: Table 1 has a 2027 row with RRSP dollar limit $35,390 and dashes for MP, DPSP, YMPE, YAMPE. Table 2 (TFSA and ALDA dollar limits) lists every year 2009 to 2026 and has no 2027 row.
  3. [3]Department of Justice Canada (Justice Laws Website), Income Tax Act, s. 146 (Registered retirement savings plans), current to 2026-09-21. Where: s. 146(1) "RRSP dollar limit" para (a): the money purchase limit for the preceding year; s. 146(1) "RRSP deduction limit", clause B(a): "the lesser of the RRSP dollar limit for the year and 18% of the taxpayer's earned income for the preceding taxation year"; s. 146(1) "RRSP deduction limit", clause B(a).
  4. [4]Canada Revenue Agency, How contributions affect your RRSP deduction limit, last modified January 29, 2026. Where: List of the two components of the limit: "18% of your earned income in the previous year"; Over-contributions: tax applies to contributions that exceed your limit "by more than $2,000"; Over-contributions: "a tax of 1 percent per month on your contributions that exceed your RRSP deduction limit by more than $2,000"; Same sentence.Note: States the 18% rule, the $2,000 buffer and the tax of 1 percent per month on contributions above it.
  5. [5]Department of Justice Canada (Justice Laws Website), Income Tax Act, s. 207.01 (Interpretation, Part XI.01), current to 2026-09-21. Where: s. 207.01(1) "TFSA dollar limit" para (d): "for each year after 2015, the amount (rounded to the nearest multiple of $500 ...) that is equal to $5,000 adjusted for each year after 2009 in the manner set out in section 117.1"; s. 207.01(1) "TFSA dollar limit" paras (a) and (d): $5,000.
  6. [6]Department of Justice Canada (Justice Laws Website), Income Tax Act, s. 147.1 (Registered pension plans), current to 2026-09-21. Where: s. 147.1(1) "money purchase limit" para (o): for each year after 2009, the greater of the 2009 limit scaled by average wage (rounded to nearest $10) and the preceding year's limit.
  7. [7]Canada Revenue Agency, Before you contribute to a TFSA, last modified February 20, 2026. Where: "your contribution room starts to accumulate when you turn 18 years of age".
  8. [8]Department of Finance Canada, Report on Federal Tax Expenditures - Concepts, Estimates and Evaluations 2026: part 7, last modified May 22, 2026. Where: RRSP measure description: "Contributions to these plans are deductible from income"; "withdrawals are included in income for tax purposes"; RRSP table, column 2027 (P) = 18,510; TFSA measure description: "TFSA contributions are not deductible"; "amounts withdrawn are not included in income for tax purposes"; TFSA table, column 2027 (P) = 5,505; estimation method: tax forgone on investment income earned in TFSAs; RRSP table, column 2026 (P) = 17,355; TFSA table, column 2026 (P) = 4,695.Note: Cost estimates for 2024 to 2027 are marked (P), projected. The RRSP estimate is for RRSPs, PRPPs and the SPP together.

What changed

  • UpdateA line under the page says a 2027 rate not yet announced is a projection.

  • PublishedPublished the 2027 RRSP and TFSA limits page.