PlainRRSP Tools
According to the Canada Revenue Agency's 2026 registered-account contribution-limit publication, more than 27 million Canadians hold an active RRSP, TFSA, FHSA, or RESP account combined. PlainRRSP's tools help you calculate your contribution room, estimate over-contribution penalties, and decide between the RRSP and TFSA — all running in your browser with zero data transmission.
Contribution-room calculator
Calculate your remaining 2026 RRSP and TFSA contribution room from your prior-year earned income, age, and prior contribution history. The calculation follows the CRA T1 Schedule 7 formula for RRSP room (18% of earned income up to the annual ceiling, minus pension adjustment) and the TFSA cumulative-room formula (annual ceilings + carry-forward of unused + re-addition of withdrawals).
Use the decision tool → for a side-by-side RRSP-vs-TFSA recommendation based on your marginal-rate now vs expected marginal-rate in retirement.
Over-contribution penalty estimator
If you've contributed beyond your CRA-confirmed RRSP room (above the $2,000 lifetime over-contribution allowance), the CRA assesses a 1% per-month penalty under section 204.1 of the Income Tax Act until either the excess is withdrawn or new room becomes available. The penalty estimator computes the cumulative monthly penalty for any given over-contribution amount and time-to-resolution.
RRSP-vs-TFSA decision engine
The classic Canadian household-finance decision: contribute to RRSP (deduct now, pay tax later at withdrawal) or TFSA (no deduction, but withdrawals tax-free)? The answer hinges on your marginal tax rate today vs your expected marginal rate in retirement. PlainRRSP's decision engine computes the after-tax retirement value of each route given your current marginal rate, expected retirement income, and contribution horizon.