The federal budget tabled on November 5, 2026 left workplace savings plans as they were. Your Group RRSP, TFSA, DC pension and DPSP work exactly as they did before the budget. There are no new contribution limits and no change to how employer contributions are taxed.
Three things are still worth knowing.
A smaller CPP deduction
The base CPP rate drops from 9.9% to 9.5% on January 1, 2027. On a $70,000 salary, that's about $133 a year back to you, and the same to your employer. Small. But point it at your plan and it's a contribution increase you won't feel.
An RRSP for life: no forced switch at 71
Ottawa intends to merge the RRSP and RRIF rules into one account. Minimum withdrawals after 71 would stay. A surviving spouse could take over the RRSP directly. It's an intention, not law. Details are still to follow.
One tax deadline: May 15
Filing and paying both move to May 15, including for the self-employed. The change starts with 2027 tax returns, filed in spring 2028. The RRSP contribution deadline is not affected.
The 2027 limits to plan around
RRSP dollar limit: $35,390 DC pension (money purchase) limit: $36,390 DPSP limit: $18,195 TFSA annual limit (expected*): $7,500, up $500
These limits are set by CRA indexation, not the budget. Your own RRSP room depends on your income and pension adjustment.
*Expected, based on inflation indexing, up from $7,000 in 2026. CRA usually confirms the TFSA limit in late November. Lifetime TFSA room would then reach $116,500 for anyone who has been 18 or older since 2009.
The takeaway
The budget didn't change your plan. The biggest lever is still the one you control: your contribution rate.
What would you do with an extra $133 a year?
Brian Prokop, P.Eng., CFA, is CEO, Ultimate Designated Person, Chief Compliance Officer and an Advising Representative of LINK Plan Management Inc., a registered portfolio manager and a wholly owned subsidiary of LINK Investment Management Inc., which provides workplace savings solutions to companies and distribution partners.
This is general information and education only: not investment, tax or legal advice, and not tailored to any individual's circumstances. Plan features, contribution limits and tax treatment vary by plan and province; confirm your own details with your plan administrator. Figures are current as at the date of publication and may change. Examples are illustrative and are not forecasts or guarantees.
Budget measures are proposals until enacted. The CPP example is approximate and applies to base CPP contributions on employment income.
Sources: Federal Budget 2026 (November 5, 2026); Spring Economic Update 2026; Canada Revenue Agency.