How do you split your pension income?
The transferring spouse or common-law partner and the receiving spouse or common-law partner must make a joint election on Form T1032, Joint Election to Split Pension Income.
This form must be completed, signed and attached to both spouse's or common-law partner's paper returns and filed by your respective filing due date. The information on the forms must be the same.
You can allocate up to half (50%) of your eligible pension income to your spouse or common-law partner.
Only one joint election can be made for a tax year. If both you and your spouse or common-law partner have eligible pension income, you need to decide who will act as the transferring spouse or common-law partner electing to allocate part of his or her eligible pension income to the receiving spouse or common-law partner.
If you and your spouse or common-law partner elected to split eligible pension income in 2015, you do not have to use the same percentage in 2016.
Under certain circumstances, we may allow you to make a late or amended election, or revoke an original election if the application is made on or before the day that is three calendar years after the filing-due date for the year that the election applies. You and your spouse or common-law partner must agree to any amendment or revocation of the election.
If you want to amend the amount elected previously, or make any changes to the previously-reported pension income, a new fully-completed and jointly-signed Form T1032 would be required.
If you want to revoke the election to split pension income, you need to send a letter requesting to revoke the election and the letter must be signed by you and your spouse or common-law partner.
For more information, contact us.
Forms and publications
- General Income Tax and Benefit Package – Guide, Return, and Schedules
- Form T1032, Joint Election to Split Pension Income
- Line 115 – Other pensions or superannuation
- Line 116 – Elected split-pension amount
- Line 129 – RRSP income
- Line 210 – Deduction for elected split-pension amount
- Line 314 – Pension income amount
- Date modified: