Canada RRSP vs TFSA Retirement Decision Calculator
Compare whether contributing to an RRSP or TFSA yields higher retirement net income based on current vs future tax brackets.
Calculation Inputs
Calculation Results
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Enter inputs on the left and click Calculate to view results.
Formula & Methodology
RRSP FV = FV(Contrib / (1 - TaxNow)) × (1 - TaxFuture); TFSA FV = FV(Contrib) tax free
If your tax rate is higher today than in retirement, RRSP wins. If your tax rate is lower today, TFSA wins.
Frequently Asked Questions
What is the annual TFSA contribution limit?
The TFSA limit for 2024 is $7,000, with cumulative total contribution room exceeding $95,000 for eligible adults.