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I am getting my pension and have room left in my RRSP, can I still contribute and get a refund?



Our response:

A Registered Retirement Savings Plan (RRSP) is an account, registered with the federal government, that you use to save for retirement. Anyone who files an income tax return with earned income and available contribution room can contribute to an RRSP (refunds depend on your current financial and tax situation). However, you must stop contributing to and close your RRSP by the end of the year you turn 71 by either withdrawing your RRSP savings in cash, converting your RRSP to a RRIF or buying an annuity. All RRSP withdrawals are subject to tax, as contributions are made with pre-tax dollars.

We are not able to provide advice but try to provide general information to help take the next step. Visit to learn about investing and other financial topics. Speak with a registered financial representative or tax professional for advice that fits your personal situation.

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