Facts on income tax

Don't forget that your pension is taxable income. This means tax will be deducted from your monthly pension. How much tax is deducted will depend on government tax tables, as well as other information.

The NSAHO Pension Plan is required, by law, to deduct tax from your pension if it exceeds prescribed levels. However, you may be able to arrange for less tax to be deducted if you are eligible for federal or provincial tax credits. To tell us about any tax credits you may be eligible for, simply send us a completed TD1 form (the current Personal Tax Credits Return).

You can also use the TD1 form if you want to have more tax deducted from your pension (perhaps because you have income from other sources). Alternatively, you may write to us explaining the specifics. Please ensure that you specify the exact dollar amount of the extra tax that you want taken from your pension over and above any tax that will be normally deducted as required by government tax tables.