Pension Payroll Deductions Calculator
Estimate how much income tax to withhold from each pension payment when you also receive other taxable retirement income.
Pension payment details
Suggested net payment
$2,35112 payments per year
Suggested tax withholding
$649$7,790 annually
Gross payment
$3,00022.0% estimated tax
Frequently asked questions
Are CPP and EI deducted from pension payments?
Registered pension payments are generally taxable income but are not employment earnings, so they normally do not attract CPP or EI premiums.
Why might pension tax withholding be too low?
A pension payer may not know about CPP, OAS, RRIF withdrawals, employment income or another pension. Those other sources can push the combined income into a higher tax bracket.
Can I request extra tax withheld from a pension?
Yes. Contact the pension administrator and submit its federal and provincial withholding forms or TD1 instructions.
Model the whole household with the retirement income calculator, then test eligible splitting with the pension splitting calculator.
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