*Mutual funds are offered through Credential Asset Management Inc. Unless otherwise stated, mutual fund securities and cash balances are not insured or guaranteed, and are not covered by the Canada Deposit Insurance Corporation or by any other government deposit insurer that insures deposits in credit unions.
Our Retirement Planner Calculator determines the amount of savings that you'll need to retire comfortably. By flagging any shortfalls or surpluses, the Calculator outlines the savings required to reach your financial goals for retirement.
The Government of Canada lists your registered retirement savings plan (RRSP) or pooled registered savings plan (PRPP) deduction limit, often called your "contribution room" in several places.
They both have their advantages but depending on your situation, one might be better than the other.