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Splitting Pension Income

Can I split my pension income with my spouse?

You can allocate up to one-half of your pension income to your spouse for tax purposes. For more information, see Is Pension Income Splitting Right For You?.

My spouse and I are splitting our pension income. Should we split it 50-50?

The optimal split in pension requires tax software or some old-fashioned trial and error, and a 50% split is not always the best solution. Visit the Canada Revenue Agency's website to see if you qualify. If you do, consult a tax professional to find the optimal split for you and your spouse.

Can Ontario Teachers' reduce my ongoing tax deduction if I'm income splitting with my spouse?

No. We're often asked to reduce the amount of tax withheld at source. Unfortunately, government legislation does not allow us to do this. We're required to deduct tax based on 100% of your monthly pension payment.