The Account Buckets
Different accounts have different rules. Know the game to win it.
Tax-Free Savings Account (TFSA)1
The golden child of Canadian personal finance.
Registered Retirement Savings Plan (RRSP)2
The tax-deferral machine.
First Home Savings Account (FHSA)3
The best of both worlds.
Non-Registered (Investment) Account
The overflow bucket.
Registered Education Savings Plan (RESP)4
Free money for school.
Registered Disability Savings Plan (RDSP)5
Long-term security for disabilities.
1 TFSA limit is for the 2026 tax year. Contribution room accumulates if unused.
2 RRSP limit is for the 2026 tax year, up to $33,810 (lesser of 18% of earned income or the maximum). Pension adjustments may reduce this.
3 FHSA annual limit. Lifetime maximum of $40,000. Carry-forward rules apply.
4 RESP contributions have a $50,000 lifetime limit per beneficiary. Government grants apply on the first $2,500 annually.
5 RDSP has a $200,000 lifetime contribution limit. Grants and bonds are income-tested and can be substantial.
* Contribution room for the year depends on any carry over or other factors for these accounts. Always check your CRA My Account.
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