Registered Retirement Savings Plan

2022 - 2023 Reference Guide

As each New Year begins, many investors have the opportunity to start making ongoing contributions to their Registered Retirement Savings Plan (RRSP), . To assist, we have developed this Reference Guide with important information including key dates, contribution limits and strategies.

The 2022 RRSP deadline is March 1st, 2023.

This is a great opportunity for us to review your retirement investment strategy.

Together, we can:

  • Calculate your contribution limit. The maximum for 2022 is $29,210. For reference, your current allowable contribution limit can be found on your latest notice of assessment from the Canada Revenue Agency. The contribution limits for 2020 and 2021 were $27,330 and $27,830 respectively.
  • Unused contribution room for the years 1991 to 2021 is carried forward to 2022. For more information on your RRSP contributions and other registered retirement plans please follow these links:
    • My account
    • RRSPs and other registered retirement plans                                                                                                                                                                                         
  • Decide how much to contribute and how to set up regular, automatic payments to an RRSP if you haven’t already done so.
  • Contribute to other tax-efficient plans such as a Tax-Free Savings Account (TFSA) or Registered Education Savings Plan (RESP). The contribution limit for TFSAs in 2023 is $6,500.
  • Consider whether a US dollar registered account would benefit your circumstances. All registered plans are now available in USD with the exception of RESP accounts.

To make a tax deductible contribution, the contribution must be made within 60 days after December 31st. Contributions to be deducted against 2022 income will have to be made by March 1st, 2023.