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New Member
posted Mar 5, 2024 8:46:31 AM

Can I deduct RRSP contributions made to a matching pension plan provided by an employer? I have never received a contribution receipt nor is anything sent to the CRA.

I'm with a new company that also has a matching RRSP plan but it's not pension. I received a contribution receipt and now am confused if I could have been deducting RRSP contributions I made with a previous company?

0 5 6520
5 Replies
Intuit Alumni
Mar 5, 2024 9:46:14 AM

You can only get an RRSP deduction from the amount you yourself have contributed as per the RRSP information slip you have received. 

 

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New Member
Apr 28, 2024 8:12:53 PM

I work for the City of Toronto and have a pension plan with Omers where both the City and I as an employee make contributions. During the turbo tax RRSP contribution section, should I be deducting my contribution for the pension plan as RRSP contribution or does Turbo-tax pick this deduction directly from my T4? 

Intuit Alumni
Apr 29, 2024 11:23:14 AM

If the amount of your part of the contribution is already on the T4, it should be entered as a contribution on your return by the software. You will need to enter it as a deduction if you wish or need to use it this year. Otherwise you can choose to use it another year when it might be more beneficial for you.

 

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New Member
Apr 29, 2024 4:17:44 PM

Thanks for your response. However, I am still unclear. Let me put this in layman's (my) terms. For my total taxable income to be reduced by my contribution in the Omer's plan, do I have to manually enter what I contributed through the year or does turbo-tax pick this from my T4 automatically?  I see that my yeary contribution is captured in my T4.

Moderator
Apr 30, 2024 8:46:49 AM

Whatever you entered on your T4 TurboTax will enter it accordingly. There are no other entries to make regarding your pension plan as it is on your T4 Slip.

 

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