Human Resources

RRSP Limits

The Income Tax Act sets an overall limit on how much you may tax shelter for retirement each year. This limit is 18% of your earned income from the previous year up to $23,820 (in 2012). This amount is scheduled to increase as follows:

To find out how much you may contribute to your RRSP, you must first subtract the value of your previous year's membership in the UNB pension plan from your overall limit. The amount you subtract is called a pension adjustment (PA). Your PA is calculated by UNB using a Canada Revenue Agency (CRA) formula. It is then reported on your T4. CRA uses the PA amount shown on your T4 to prepare your personal RRSP contribution limit statement for the upcoming year.

You can find your current RRSP contribution limit on your most recent CRA Notice of Assessment.

About UNB

Did you know?

UNB’s Fredericton campus, located in New Brunswick’s capital, was established in 1785; its Saint John campus, located in New Brunswick’s largest city, was established in 1964.

UNB is among the oldest public universities in North America and the oldest English-language university in Canada.

UNB’s international students originate from more than 100 countries, contributing to the cultural fabric of our host communities and the entire province.