Moving?

If you're thinking about moving to a new city, province or country after retirement, there are a few important details to consider regarding your monthly pension.

How You Receive Your PSPP Pension

If you have a Canadian bank account, you can receive your pension through direct deposit, no matter where you live. Using direct deposit is convenient for you and means that postal disruptions will not affect when you receive your monthly pension payment. There is also no risk of mail theft.

If you do not have a Canadian bank account, you will receive your monthly pension via cheque mailed to your home address. This cheque will be in Canadian dollars.

You can review and update your banking information at any time on mypensionplan.ca.

Updating Your Contact Information

Any time you change your mailing address, phone number, or email, you need to update that information on mypensionplan.ca or by contacting us. This ensures you continue to receive up-to-date information regarding your PSPP pension.

Income Tax Considerations

The income tax deducted from your pension varies based on government requirements and what information you have provided, especially the Canadian province, territory, or country in which you reside.

If you move out of province or country, please update your information via mypensionplan.ca or contact us. Your provincial or out-of-country tax rate will be adjusted as needed.

If You Live or Intend to Live outside of Canada

Many countries have tax agreements with the Government of Canada, which means your income may be taxed at a different rate. You can find a listing of these agreements and tax rates on the Government of Canada's Benefits for Canadians Living Abroad page.

If the country you are moving to or live in does not have a tax treaty with Canada, your PSPP pension will be taxed at a standard 25% rate.

You will receive an NR4 instead of a T4A for tax purposes.

More on Income Taxes