Received a Lump Sum Pension on T4A showing amount on line 018, Income Tax Deducted on line 022. Does this still have to be reported as income and be taxed a second time?

I thought if the Pension Plan administrator already deducted the Income Tax of 30% because of amount. That would be all. Now I would have to pay again on the amount received after that tax as part of income for year ? Seems too much, is this correct?