On October 28, 2026 the Canada Revenue Agency published the new limits for 2027 and 2028. The RRSP dollar limit is $35,390 for 2027 and $36,390 for 2028, and the CPP earnings ceiling (YMPE) rises to $76,700 in 2027. Together with the 2027 Employment Insurance figures released in September, they decide how much RRSP room you get and how much comes off each paycheque next year. The 2027 TFSA limit has not been published yet.
What the CRA announced on October 28, 2026
The CRA’s “What’s new” page for savings and pension plan administration lists the new figures (CRA, What’s new, 2026-10-28), and the limits table carries them by year (CRA limits table):
| Limit | 2026 | 2027 |
|---|---|---|
| RRSP dollar limit | $33,810 | $35,390 |
| Money purchase (MP) limit | $35,390 | $36,390 |
| CPP earnings ceiling (YMPE) | $74,600 | $76,700 |
| CPP second ceiling (YAMPE) | $85,000 | $87,400 |
| TFSA dollar limit | $7,000 | not yet published |
The 2028 RRSP dollar limit is $36,390, equal to the 2027 MP limit. The CRA table was checked on November 3, 2026; its TFSA rows end at 2026.
What the 2027 RRSP limit means for your room
Your new RRSP room each year is 18% of the previous year’s earned income, up to the annual limit, reduced by any pension adjustment from a workplace plan, plus room you did not use before (CRA, RRSP deduction limit). So the 2027 limit applies to what you earn in 2026: reaching the full $35,390 takes about $196,611 of 2026 earned income ($35,390 ÷ 18%). Below that, 18% of your income sets the room.
The exact figure arrives on the RRSP Deduction Limit Statement of your notice of assessment after you file your 2026 return; it is also shown in your CRA account (CRA). Contributions more than $2,000 above your deduction limit are taxed at 1% per month.
CPP and EI: what comes off your paycheque in 2027
- CPP: the employee contribution rate was 5.95% in 2025 and 2026, on earnings between the $3,500 basic exemption and the ceiling; the 2026 maximum is $4,230.45 (CRA CPP table). The CRA had not posted the 2027 maximum on November 3. At the same rate and exemption, the $76,700 ceiling works out to $4,355.40, which is $124.95 more; the CRA table will confirm the official figure.
- CPP2: second additional contributions apply to earnings between the YMPE and the YAMPE, now $76,700 to $87,400.
- EI: the 2027 rate is $1.64 per $100 of insurable earnings for employees outside Quebec ($1.29 in Quebec). Maximum insurable earnings rise to $70,800 from $68,900, and the maximum annual premium to $1,161.12, up $38.05 (Quebec: $913.32, up $17.62) (ESDC, September 14, 2026).
For an employee outside Quebec who earns above both ceilings, CPP and EI together take about $163 more over 2027 ($124.95 + $38.05, before CPP2), spread across the year’s pay periods. Workers in Quebec pay into the Quebec Pension Plan, which has its own figures.
A 10-minute update for your 2027 plan
- Check your first January pay stub against your budget; if take-home pay moved, update the income line so the difference does not look like overspending. How to make a budget covers the income line.
- Estimate 2027 RRSP room as 18% of your 2026 earned income, capped at $35,390, minus any pension adjustment, plus unused room from your last notice of assessment.
- Write down TFSA room on January 1: unused room plus 2026 withdrawals plus the 2027 limit once the CRA publishes it. The ledger in how to track your TFSA, RRSP and FHSA keeps all three accounts on one page.
- Turn the contribution into a monthly amount: a yearly RRSP target divided by 12 is easier to keep than a lump sum in February.
This article is general information. Your notice of assessment, pay stubs and plan documents set the figures that apply to you.
Frequently Asked Questions
What is the RRSP limit for 2027?
$35,390, up from $33,810 in 2026. Your own 2027 room is 18% of your 2026 earned income up to that amount, minus any pension adjustment, plus unused room carried forward. The CRA has also set the 2028 limit at $36,390.
What is the TFSA limit for 2027?
The CRA had not published it as of November 3, 2026; its limits table lists TFSA dollar limits through 2026, when the limit is $7,000. The figure will appear in the CRA limits table once announced.
What is the CPP maximum pensionable earnings for 2027?
The year’s maximum pensionable earnings (YMPE) is $76,700 in 2027, up from $74,600, and the year’s additional maximum pensionable earnings (YAMPE) is $87,400, up from $85,000, per the CRA’s October 28, 2026 announcement.
How much is the maximum EI premium in 2027?
$1,161.12 for a worker outside Quebec, at $1.64 per $100 of insurable earnings up to $70,800, and $913.32 for a worker in Quebec, per the Canada Employment Insurance Commission’s September 14, 2026 announcement.
Put the new limits into your 2027 plan
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