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RRSP Calculator Canada 2025

Calculate your RRSP tax refund, contribution room and projected retirement savings.

Annual Income ($)

Province

RRSP Contribution ($)Max $18,000 (18% of income or $32,490)

Current Age

Retirement Age

Tax Refund This Year

$4,448

@ 29.7% marginal rate

Net Cost of Contribution

$10,553

$15,000 − $4,448

RRSP at Retirement

$872,346

25 yrs at 6% growth

Every $1 in RRSP costs you only $0.70 after the tax refund — and grows tax-deferred.

RRSP vs TFSA — Annual $15,000 contribution over 25 years

Contribution amount$15,000/yr$15,000/yr

Tax refund on contribution$4,448/yrNone

Net cost per year$10,553/yr$15,000/yr

Balance at retirement (6% growth)$872,346$872,346

Tax on withdrawalsTaxed as incomeTax-free

Monthly income (25yr drawdown)$2,908$2,908

RRSPTFSA

⚠️ 2025 RRSP limit: $32,490 or 18% of prior year earned income. RRSP deadline: March 3, 2025 (for 2024 tax year). Growth projection at 6% is illustrative — actual returns vary. Withdrawals are taxed as income. Consult a financial advisor.