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Returning Member
posted Feb 23, 2021 5:04:30 PM

RRSP and RPP Contribution Limits

How do my current year's RPP contribution affect my RRSP contribution for the same year? For example, let's assume that my 2021 Notice of Assessment (issued in Spring 2020) RRSP amount is $20,000. Again assuming both my employer and I contributed $5000 each to my RPP (from March 1, 2020 to Dec 31, 2020), is my remaining allowed RRSP contribution limit for the 2020 tax year $10,000 or $20,000?  

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Level 3
Apr 13, 2021 10:37:56 AM

Thank you for choosing TurboTax Community!

Registered Pension Plans (RPPs) affect your RRSP contribution limit. 

In your T4 slip, it includes a pension adjustment (PA) amount. The PA reduces your RRSP contribution room, allowing you to contribute less for the current tax year. 

Based on the information u shared, your contribution limit for the tax 2020 will be $10,000. 

You can find more detailed information about RRSP and RPPs in a link  How do contributions to a pension plan affect RRSP