When an employee leaves their job prior to retirement, their group RRSP can be cashed out (but the proceeds will be taxable), or transferred to another RRSP (tax-free). The RRSP will not be locked-in, as it would with transfers from a registered pension plan.
Okay, I understand employer contributions are reported as income on the T4, but can i still claim them as "RRSP contributions" since they are in fact contributions into RRSP and not as income.
This money is being deposited by the employer into a group RRSP account and therefore it is not income, just as the money i choose to deposit into an RRSP is not considered income?
My question is can I claim this amount, deposited by my employer as a deposit into my RRSPs?
Where do I mention these amounts while filing tax. Currently when I am just adding this in "RRSP contribution" its recalculating and showing extra tax refund which I assume I should not get as Employee contribution has already been tax deducted at source.