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If you have benefits from a foreign pension, rolling them into an RRSP can save tax. Talk to your tax advisor to see if your foreign pension benefits qualify for rollover.

Where should you enter your pension income deduction? If you are eligible, the program will calculate it automatically.

The Quebec Pension Plan (QPP) allows pensioners age 60 or older who are not legally separated to share their QPP pension in order to reduce tax. For more information, see Retirement pension sharing between spouses on the QPP's Web site.

Your contributions to the Canada and/or Quebec pension plans determine the amount of benefits you will receive under either plan. If there are no contributions in box 16 or 17 of your T4 slip, or if you have any questions about the amount of your contributions, you should contact your employer.

If you have to report the pension or annuity payments that appear on line 115 of your tax return, you may be able to claim the pension income amount (see line 314). Enter all pension amounts as they appear on your tax slips and the program will calculate the pension income amount for you.

The program automatically splits pension income with your spouse if this is beneficial. The split is only possible if you process your spouse's tax return together with your own.

You can claim a deduction on line 256 for the part of your foreign pension income that is free of tax in Canada by virtue of a tax treaty. If you do not know whether any part of your foreign pension is tax free, please contact the CRA.

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