RPP vs RRSP

[mlangill]

I was wondering if contributions through your employer pension plan (RPP) is considered part of your yearly RRSP contribution limit? I maxed out my RRSP before I noticed the RPP contributions on my T4 and I don't want to go over. I have put the numbers in Ufile and it doesn't give me any warnings so i am guessing it is ok.

[asdfvcx]

No, it's not considered part of your RRSP contribution. However, 2007's RPP contribution will reduce your contribution room for next year's RRSP. Pay close attention to the notice of assessment you'll get in a couple months, of how much RRSP room you now have.

[TopTaxGuy]

Your 2006 Notice of Assessment will show your 2007 RRSP deduction limit.

Your RPP will affect how much you can contribute to your RRSP.

For more infomration see How much can I contribute to my RRSP? (http://www.taxresource.ca/personaltax/rrsp_contributions.html)

And

Registered Retirement Savings Plans (http://www.taxresource.ca/personaltax/perstaxmain.html)

[mlangill]

Hmmm, i don't have a pension adjustment amount on my T4 (maybe because this is the first year I have contributed to the pension). Therefore, it looks like it won't affect my limit this year, but possible next year.

[dutchca]

If you had pension contributions I have no idea why you wouldn't have a pension adjustment on your T4.

Maybe your employer matched your RRSP contributions and it was not really a pension?

If you are sure it was pension contributions you should call your payroll department and ask why there isn't a PA reported on your T4.