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Email this8:39 am
April 6, 2013
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Also, the employee's pension plan contributions usually are not additional compensation.
Those contributions are actually carved out of one's agreed salary like the income tax withholdings and employee contributions for CPP and EI.
9:01 am
April 6, 2013
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tosbourne88 said
… I contacted the company and they said everything on the T4 is correct, but I received a RRSP Contribution Receipt from the bank that we are dealing with. Plus, the amount that is on the T4 has nothing to do with the Jan-Mar RRSP contributions, but there are 2 RRSP Contribution Receipts that on the website, for Mar-Dec and for Jan-Mar.
You'd receive two RRSP contribution receipts from your plan at work too if it was a group RRSP.
But, it doesn't sound like your plan at work is a group RRSP. It sounds like your plan at work is a defined contribution registered pension plan.
As Bill wrote, you need to determine what your plan at work is before you can correctly determine whether or not a mistake was made in your T4 slip.
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