Pension Payments

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Source deductions of income tax

You do not have to withhold income tax on a single payment from a registered pension plan (RPP) or a deferred profit-sharing plan (DPSP) that is transferred directly, without being paid to the beneficiary, to another plan, such as:

  • an RPP;
  • a DPSP;
  • a registered retirement savings plan (RRSP)
  • a voluntary retirement savings plan (VRSP);
  • a pooled registered pension plan (PRPP);
  • a registered retirement income fund (RRIF).

If only a portion of the payment is transferred directly to another plan, you must withhold income tax from the portion that is not transferred directly.

You are also not required to withhold income tax on a single payment from an RPP or other pension plan that is made to a person who resides outside Québec.

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