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wishkev
New Member

If my employer and I contribute to a pension plan, can I deduct my portion?

 
1 Reply

If my employer and I contribute to a pension plan, can I deduct my portion?

A registered pension plan (RPP) is a pension plan that has been set up by your employer, and registered by the CRA, to provide you with a pension when you retire.

RPP amounts can include contributions for:

  • current service
  • past service for 1990 or later years
  • past service for 1989 or earlier years while a contributor
  • past service for 1989 or earlier years while not a contributor

You can deduct the total of your RPP contributions for current service, or for past service for 1990 and later years, on your 2022 Income Tax and Benefit Return. However, you cannot carry forward the amount not deducted to 2023 or later years.

For 2022, you may be able to deduct only part of the past service contributions that you made for 1989 or earlier years. If so, you can carry forward the amount not deducted to 2023 or later years.

 

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