Canada's three main registered savings accounts each have their own annual limit. Here are the official figures for 2026.
2026 limits at a glance
| Account | 2026 limit |
|---|---|
| TFSA annual limit | $7,000 |
| TFSA total room since 2009 (eligible every year) | $109,000 |
| RRSP dollar limit | $33,810 (or 18% of the previous year's earned income) |
| RRSP dollar limit for 2027 | $35,390 |
| FHSA annual limit | $8,000 |
| FHSA lifetime limit | $40,000 |
TFSA limit by year
| Year | Annual limit | Cumulative room |
|---|---|---|
| 2009 | $5,000 | $5,000 |
| 2010 | $5,000 | $10,000 |
| 2011 | $5,000 | $15,000 |
| 2012 | $5,000 | $20,000 |
| 2013 | $5,500 | $25,500 |
| 2014 | $5,500 | $31,000 |
| 2015 | $10,000 | $41,000 |
| 2016 | $5,500 | $46,500 |
| 2017 | $5,500 | $52,000 |
| 2018 | $5,500 | $57,500 |
| 2019 | $6,000 | $63,500 |
| 2020 | $6,000 | $69,500 |
| 2021 | $6,000 | $75,500 |
| 2022 | $6,000 | $81,500 |
| 2023 | $6,500 | $88,000 |
| 2024 | $7,000 | $95,000 |
| 2025 | $7,000 | $102,000 |
| 2026 | $7,000 | $109,000 |
You accumulate TFSA room from the year you turn 18 (or 2009, whichever is later) for every year you are a Canadian resident. Withdrawals are added back to your room on January 1 of the following year.
RRSP rules
New RRSP room is 18% of your previous year's earned income up to the annual dollar limit, minus any pension adjustment. Unused room carries forward, and contributions made in the first 60 days of a year can be deducted on the previous year's return. Over-contributions beyond a $2,000 buffer are taxed at 1% per month.
FHSA rules
The First Home Savings Account allows $8,000 a year up to $40,000 in total, with up to $8,000 of unused room carried forward to the next year once the account is open. Contributions are deductible and withdrawals for a qualifying first home are tax-free. The account can stay open for up to 15 years.
Which account should you use first? A common order is: FHSA if you're saving for a first home, RRSP if your tax rate today is higher than you expect in retirement, and TFSA for flexible savings and everything else.
Where to find your exact room
Your personal TFSA room, RRSP deduction limit and FHSA participation room are shown in CRA My Account and, for the RRSP, on your latest Notice of Assessment. The CRA's figures are updated after your tax return is processed and may not include contributions or withdrawals made earlier in the current year, so keep your own records of every transaction. Over-contributing to any of these accounts triggers a penalty tax of 1% per month on the excess until it is removed, so check your room before making a large deposit — especially if you hold accounts at more than one financial institution.