Use your unused contribution room

Did you know that if you did not make your maximum RRSP contribution this year, you will have unused contribution room that you can use next year?

In fact, you are allowed to contribute 18% of your income into an RRSP. If you can't, you can use your unused contribution room in subsequent years.

For example, if your maximum contribution for a year is $12,000 but you only contribute $2,000 to your RRSP, you may use the unused $10,000 portion to increase your contribution the following year for a total of $22,000. This way, your unused contribution room lets you exceed your maximum annual limit.

If you should come into some money unexpectedly (inheritance, lottery winnings, etc.), it may be wise to use your unused contribution room. In some cases, you can even borrow to use your unused contribution room.

Find out more about unused contribution room.

	At the caisse (Members and non-members)	Contact an advisor at a caisse.