The Canada Revenue Agency has set the 2028 RRSP limit at $36,390, giving Canadians and employers an early figure to use in long-term retirement and payroll planning.
The CRA published the new limits on October 28, 2026, including several figures that will apply to registered pension plans and deferred profit-sharing plans in 2027.
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2028 RRSP limit rises to $36,390
The 2028 RRSP dollar limit will be $36,390, up from the 2027 limit of $35,390.
That represents a $1,000 increase in the annual federal dollar ceiling used in the RRSP deduction-limit calculation.
The announced amount is the annual RRSP dollar limit, not necessarily the exact amount every taxpayer can contribute or deduct.
An individual’s actual RRSP deduction limit can also include unused room carried forward from previous years and is affected by earned income, pension adjustments and other factors.
The CRA generally calculates new room using 18 per cent of the previous year’s earned income, up to the annual limit.
New 2027 registered-plan and payroll figures
The CRA also announced the following limits for 2027:
| Limit | 2027 amount | Change from 2026 |
|---|---|---|
| Money purchase limit | $36,390 | Up $1,000 |
| Defined benefit limit | $4,043.33 | Up $111.11 |
| Deferred profit sharing plan limit | $18,195 | Up $500 |
| Year’s maximum pensionable earnings | $76,700 | Up $2,100 |
| Year’s additional maximum pensionable earnings | $87,400 | Up $2,400 |
The CRA’s announcement identifies the money purchase, defined benefit and DPSP amounts as registered-plan limits, while the YMPE and YAMPE figures set earnings thresholds used in Canada Pension Plan contribution calculations.
What the announcement means for Canadians
For employees who receive workplace pension benefits or participate in a DPSP, the updated figures may affect the amount of new RRSP room created for a later year.
That is because a pension adjustment generally reduces the RRSP deduction limit available for the following year.
People with higher earned income may also see the higher annual ceiling become relevant when they review their future contributions, although the actual room shown by the CRA remains the controlling figure for tax purposes.
Canadians should check their latest notice of assessment or CRA My Account before making a contribution based only on the new annual limit.
How to check your personal RRSP room
The newly announced $36,390 figure should not be treated as a universal contribution amount.
Taxpayers can find their personal RRSP deduction limit through their CRA account, on the RRSP Deduction Limit Statement included with a notice of assessment, or on Form T1028 when the CRA issues one.
- Review the RRSP deduction limit shown by the CRA.
- Account for unused contribution room from previous years.
- Consider any pension adjustment from an employer plan.
- Keep contribution receipts and avoid exceeding available room.
Excess contributions can create tax consequences, so anyone making a large contribution should confirm their available room rather than relying solely on the published annual maximum.
Why the figures matter for employers and plan administrators
The 2027 money purchase, defined benefit and DPSP limits are also relevant to employers, pension administrators and payroll professionals.
The updated YMPE and YAMPE figures may be used when calculating CPP contributions for earnings in the applicable year.
Employers with registered pension or profit-sharing arrangements may need to update payroll systems, employee communications and plan calculations to reflect the new figures.
The CRA’s announcement does not change the basic rule that each taxpayer’s RRSP deduction room depends on their individual circumstances and CRA assessment information.
What happens next
The CRA’s October 28 announcement provides the published dollar limits for 2027 and 2028.
Canadians planning future contributions should continue to use their current CRA deduction-limit statement until the agency updates their personal records for the relevant tax year.
The complete CRA tables for registered-plan limits, including historical figures and related pension amounts, are available through the agency’s registered-plan administration pages.
Frequently Asked Questions
What is the 2028 RRSP limit?
The CRA has set the 2028 RRSP dollar limit at $36,390.
Is $36,390 the amount every Canadian can contribute to an RRSP?
No. A taxpayer’s personal RRSP deduction limit may be lower or higher because of earned income, unused room, pension adjustments and other factors.
What are the 2027 money purchase and DPSP limits?
The 2027 money purchase limit is $36,390 and the deferred profit sharing plan limit is $18,195.
What are the 2027 YMPE and YAMPE amounts?
The 2027 YMPE is $76,700 and the YAMPE is $87,400.
Where can I find my personal RRSP deduction limit?
You can check your CRA My Account, your latest notice of assessment or reassessment, or Form T1028 if the CRA has issued one.
Fact-Checked: The announced limits, publication date and related RRSP calculation guidance were checked against current Canada Revenue Agency information.
Disclaimer: This article provides general information and is not a substitute for personalized tax or financial advice.