It's important to correctly report your pension plan contributions. Here's how to handle different types of contributions:
Regular Pension Plan (RPP) Contributions:
- Do not enter these in the RRSP Contributions & Deduction section
- Your RPP contributions are reported on line 20700 of your tax return
- This information comes from:
- Your T4 or T4A slip, or
- The RPP Contributions Not Showing on a T4 or T4A section in your Wealthsimple Tax profile
RRSP and Pooled Registered Pension Plan (PRPP) Contributions:
- Enter these in the RRSP Contributions & Deduction section
- PRPP contributions are reported alongside RRSP contributions
Important Distinctions:
- An RPP (Regular Pension Plan) is different from a PRPP (Pooled Registered Pension Plan)
- Learn more about RPP contributions
- Learn more about PRPP contributions
Remember:
- Employer contributions to your RPP are typically not reported on your tax return
- Keep all pension-related documents for your records
If you're unsure about how to report your specific pension contributions, review your pension plan documents or consult with your plan administrator.
For assistance entering this information in Wealthsimple Tax, please contact Wealthsimple support.
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