Retirement Guides
RRSPs, RRIFs, TFSAs and government pensions — the rules that decide what you keep.
RRSP vs TFSA: which is better?
The deciding question is your tax rate now versus in retirement — with the 2026 numbers and the trade nobody mentions.
Read →No retirement plan at 40? Read this
An honest look at what the government safety net actually pays, and what it does not.
Read →Retirement guides
Saving for retirement is mostly a matter of choice. Spending it is not. Canadian registered accounts come with rules attached — contribution room that does or does not return, withdrawals that become compulsory at a certain age, and government benefits that shrink as your income rises. These guides cover the decisions those rules force on you.
The choice while you are saving
RRSP or TFSA is the question most people start with, and the honest answer is that it turns on one thing: whether your tax rate is higher now or will be higher when you withdraw. The deduction is worth your marginal rate, so it is worth most in your best-paid years.
What happens after 71
An RRSP must be wound up by the end of the year you turn 71. Most people convert to a RRIF, at which point withdrawals stop being optional — a minimum is set by your age and your balance, and it rises every year whether you need the money or not. A large enough balance can push you into the Old Age Security clawback on its own. The RRIF minimum withdrawal calculator works out that amount and sets out what CPP and OAS actually pay.
Taking money out early
Withdrawing from an RRSP before retirement costs more than the withholding rate suggests, and the contribution room never comes back. The RRSP withdrawal tax calculator shows the real cost once your other income for the year is counted.
General information only, not financial or tax advice. Figures are 2026 and cite the CRA and Employment and Social Development Canada.