Turbotax went through pension splitting optimization of my pension with my spouse. I have a pension through my work place. I just retired last year and am 54 years old. I saw in one place that you had to be 55 to pension split such income. I assume with my age in the turbotax program it would not have gone through this if I was not eligible.
I understand there is the break down from over or under 65 but can I split my pension plan income if I am 54?
You might want to review our TurboTax article: Pension income splitting: How it works, advantages and conditionsas this discusses being below 65. You may wish also to discuss this with someone at the Canada Revenue Agency (CRA) when it comes to being 54 years old. Call 1-800-959-8281
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