Line 31400 – Pension income amount:
Which pension or annuity income qualifies for the pension income amount?

Note: Line 31400 was line 314 before tax year 2019.

Questions and answers

Answer the following questions to find out if you can claim the pension income amount.

You may be able to claim up to $2,000 if you reported:

  • eligible annuity and/or pension income on line 11500 of your return
  • eligible pension income on line 11600 of your return
  • annuity payments on line 12900 of your return (box 16 of your T4RSP slips) only if you were 65 years of age or older on December 31, 2021, or you received payments because of the death of your spouse or common-law partner

For a more detailed list of eligible pension and annuity income, see the charts for Eligible Pension and Annuity Income (less than 65 years of age) or Eligible Pension and Annuity Income (65 years of age or older).

Eligible pension income does not include the following income amounts:

  • any foreign source pension income that is tax-free in Canada because of a tax treaty that entitles you to claim a deduction on line 25600
  • income from a United States individual retirement arrangement (IRA) account
  • amounts from a RRIF included on line 11500 and transferred to an RRSP, another RRIF or an annuity

If you and your spouse or common-law partner elected to split pension income, follow the instructions at Step 4 on Form T1032, Joint Election to Split Pension Income, to calculate the amount to enter on line 31400 of your and your spouse's or common-law partner's return.

Note

Amounts such as old age security benefits, Canada Pension Plan benefits, Quebec Pension Plan benefits, death benefits, retiring allowances, excess amounts from a RRIF transferred to an RRSP, another RRIF or an annuity, amounts shown in boxes 18, 20, 26, 28, and 34 of your T4RSP slips, and amounts distributed from a retirement compensation arrangement shown on your T4A-RCA slips do not qualify for the pension income amount.

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