Pension Contribution Limits Set for 2017

Pension Contribution Limits Set for 2017

The CRA has announced its 2017 contribution limits for RPPs, RRSPs, and DPSPs.

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The contribution limits for 2016 and 2017 are as follows:

¹ The total of all employer and employee contributions to an RPP are limited to the lesser of the current year’s contribution limit and 18% of the employee’s pensionable earnings for the year. The amount of pensionable earnings that generates the contribution limit each year is indicated in the table.
² The total of all contributions to an RRSP are limited to the lesser of the current year’s contribution limit and 18% of an individual’s earned income for the preceding year, plus any carry-forward contribution room. The amount of earned income that generates the contribution limit each year is indicated in the table.
³ The total of all employer contributions to a DPSP are limited to the lesser of the current year’s contribution limit and 18% of an employee’s pensionable earnings for the year. The amount of pensionable earnings that generates the contribution limit each year is indicated in the table.

For more information, contact your KPMG adviser.

Information is current to November 22, 2016. The information contained in this publication is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavour to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act upon such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's National Tax Centre at 416.777.8500

© 2017 KPMG LLP, a Canada limited liability partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

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