RRSP

[UGPUUWO]

Is it normal for me to have a 20,000 RRSP deduction limit when Iam 78 and doing RIFS?

[_krups_2938]

Yes. The Canada Revenue Agency (CRA) still calculates a deduction limit for you even if you are past the age when you can no longer contribute to your own RRSP. This is because you can still contribute to your spouse’s RRSP if they are under 71 years old. 

You can read more about spousal or common-law partner RRSPs on this Canada Revenue Agency (CRA) page: Contributing to your spouse's or common-law partner's RRSPs

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