Your RRSP contribution limit caps the amount of money you can invest in your registered retirement savings plan; usually the limit is 18% of your reported income from the previous year.
Retirement planning.A TFSA can complement your personal RRSP by providing additional tax-advantaged savings when you have no more RRSP contribution room or you are over age 71 and not allowed to hold an RRSP anymore. By contributing to a TFSA, any income earned in the account is tax-free,...