What is the maximum amount I can redeem?

Under the Income Tax Act , limits on the amount available for redemption apply, which may vary depending on the type of redemption. Your redemption amount is limited to the following limits:

• a percentage of your T4 earnings for the period you are buying back, or
• the amount of funds in your registered retirement savings plans, if the latter is lower.

If your registered account balance is equal to or greater than the calculated annuity amount, you can pay the full redemption amount.

Funds for redemption can come from multiple accounts, but if the total across all your accounts remains less than the calculated amount, you can only contribute the amount available in your registered accounts.