Registered Plans Directorate Adjusts Limits for 2023

The Registered Plans Directorate announced updated limits for the 2023 annual money purchase (MP), defined benefit (DB), registered retirement savings plan (RRSP), deferred profit sharing plan (DPSP), the year's maximum pensionable earnings (YMPE), as well as the 2024 RRSP limit.

The 2023 money purchase (MP) limit will be $31,560

The 2023 defined benefit (DB) limit will be $3,506.67

The 2023 deferred profit sharing plan (DPSP) limit will be $15,780

The 2023 year’s maximum pensionable earnings (YMPE) will be $66,600

The 2023 registered retirement savings plan (RRSP) limit of $30,780

The 2024 registered retirement savings plan (RRSP) limit will be $31,560

The 2023 Tax-free Savings Account (TFSA) limit will be $6,500.