In accordance with the Income Tax Act and Regulations, since 1990, the amount that you can contribute for a given year to your personal RRSP and the Concordia Group RSP combined is reduced by the deemed value of the benefit you earned under the Concordia Pension Plan in the previous year. This reduction is called a Pension Adjustment and is reported on your T-4 slip each year.
The Pension Adjustment is calculated as follows:
9 x the pension benefit you earned for the year
This calculation is subject to a maximum of $14,900.
The Pension Adjustment will need to be increased by:
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