Taxes are deducted from your monthly pension payment, similar to taxes deducted from a paycheque.
Income tax deductions are based on the personal tax information you reported to SFPP when you began collecting your pension. This includes information such as where you live, whether you collect an additional pension, or have additional income. (There is nothing to prevent you from getting paid for a job while you also receive pension payments. The amount of pension you receive will not change.)
When calculating your tax deductions, we assume your SFPP pension is your only source of income. Unless you inform us, we cannot know what your other sources of income might be, and the tax withheld is based only on that pension income. Other income could push you into a new level of taxation.
You can review the amount of tax deducted from your pension by logging in to this website and reviewing your personal information.
The amount of tax deducted from your SFPP pension can be adjusted if:
- you become eligible for tax credits such as disability credit, dependent support credit or tuition credit; and/or
- you receive multiple sources of income and would like more tax to be deducted.
You will need to complete a provincial or territorial TD1 form and/or a federal TD1 form, depending on the type of change you are requesting.
If information such as your home address changes, you can update that information online by logging in to this website or contact us. If you leave Alberta, your provincial or out-of-country tax rate will be adjusted. If you would like to claim tax credits in your new province, you can complete a new provincial or territorial TD1 form.
We recommend you speak to an accountant, tax preparer or the CRA if you have questions about tax deductions.
Accessing Your Annual Tax Slips
Your T4A or NR4 tax slip is a summary of income from your SFPP pension, and it is used when you file your tax return. A tax slip is provided annually for your SFPP pension that is administered by Alberta Pensions Services Corporation.
Your tax slip is loaded into your online account as soon as it is ready, which is typically early February. Logging in to your secure online account is the quickest way to receive your tax slip. Once logged in, the Tax Slip page is where you can find copies of all tax slips from SFPP.
Printed copies of the tax slips are not mailed if you have selected “Go Green” or email as your communications preference in your online account.
If you do not have an online account, or have not selected “Go Green”, a printed copy of your tax slip will be mailed by the end of February.
Please note that if you live outside Canada, you may receive an NR4 slip instead of the T4A.