Lifelong Learning Plan (LLP)

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Definition: Lifelong Learning Plan (LLP)

The Lifelong Learning Plan (LLP) is a plan that allows the user of Registered Retirement Savings Plan (RRSP) to finance full time training or education for themselves or for their spouse or partner. However, this plan does not allow for the financing of the education or training of the children or relatives.


This plan is available only for RRSP users. In case this plan is to be availed for non- users, immediate withdrawal is not possible. 90 days after the registration in RRSP, this plan becomes available.

The total withdrawal can be up to a maximum of $20,000 from RRSP in total. In a calendar year, the maximum that can be withdrawn is $10, 000. In case excess amount has been withdrawn, then that amount would be deducted from the income for the year of withdrawal.

After the LLP Withdrawal, contributions are to be made to the RRSP and deducted from the income on income tax and benefit from the return.

The amount that cannot be deducted as a part of LLP is calculated as follows:

Contribution to RRSP that cannot be deducted= (Total contributions to RRSP in 8 days before the LLP withdrawal) – (Value of RRSP just after the LLP withdrawal)


X has an RRSP with $ 10, 000. He contributes $ 5, 000 on May 20, 2015. He then makes an LLP withdrawal of $ 12, 000 on July 1, 2015. Therefore, the value of RRSP after withdrawal is $ 3, 000. Hence, the amount of RRSP that cannot be deducted is calculated as follows:

Value of RRSP just before LLP withdrawal= $ 15, 000 (10, 000 + 5, 000)

Value of RRSP after withdrawal= 15, 000 – 12, 000= $3, 000

Amount of RRSP that cannot be deducted= 5, 000 – 3, 000 (i.e. Contribution in 89 days before LLP withdrawal – value of RRSP after the withdrawal) = $ 2, 000

Therefore, X cannot deduct $ 2, 000 of the $ 5, 000 that he contributed on May 20, 2015.



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