How do DPSP contributions affect my RRSP contribution room? – Common Wealth

Reduction of RRSP Contribution Room: DPSP contributions reduce your RRSP contribution room for the following tax year.
- Example: If your employer contributes $1,000 to your DPSP in 2023, your RRSP contribution room for 2024 will decrease by $1,000.
Impact of Leaving the Company: If you leave the company before the vesting period ends:
- The DPSP account value will return to your employer.
- Your RRSP contribution room will be restored for the following year.
Checking DPSP Contributions:
- To see your DPSP contributions for the previous year, go to the "Accounts" tab and select the "DPSP" box.
Checking RRSP Contribution Room:
- You can check your RRSP contribution room online through the CRA’s My Account service.
- If you don't have an account, contact the Canada Revenue Agency at 1-800-267-6999.