Tax · Line 31400
Pension income amount calculator.
A non-refundable credit on your first $2,000 of eligible pension income — but CPP, OAS and QPP don't count, and under 65 the rules narrow further.
For 2025 (the current CRA-published figure): claim whichever is less — $2,000 or your eligible pension income — for a federal credit worth up to $280. Ontario runs its own version worth up to $1,762, an additional $88.98.
Verify current-year amounts at canada.ca before filing — CRA had not yet posted its 2026 line-31400 page at the time this was built.
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Result
Fill the form and press Calculate.
What counts as qualifying pension income
Generally: lifetime retirement benefits from a Registered Pension Plan (RPP) qualify at any age. RRIF income, a regular (non-RPP) annuity, or DPSP income qualify only if you're 65 or older at the end of the year, or you received the amount because of the death of your spouse or common-law partner. Elected split-pension income (Form T1032) carries over whatever qualification the transferring spouse's own income had. CPP, OAS and QPP benefits never qualify for this credit, at any age.
How much it's worth
For the 2025 tax year (the most recent figure CRA has published at the time of writing): the federal credit is your qualifying pension income, up to a maximum of $2,000, credited at the lowest federal rate of 14% for 2026 — up to $280. Ontario runs its own separate pension income amount on the same qualifying income, capped at $1,762 and credited at Ontario's lowest rate of 5.05% — up to an additional $88.98. Other provinces and territories run their own versions too (figures vary by jurisdiction); this tool models federal and Ontario only.
These federal and Ontario dollar caps are the 2025 CRA-published figures (this pension credit's dollar amounts have historically been static, not CPI-indexed, so they're a reasonable planning figure for 2026) — CRA had not yet published its own 2026 line-31400 page when this tool was built. Verify current-year amounts at canada.ca before filing.
Sources, verified 29 September 2026: CRA — Line 31400: Pension income amount (federal $2,000 cap and Ontario $1,762 provincial amount, read directly from the same page).
Frequently asked questions
Why doesn't my CPP or OAS count?
The Income Tax Act specifically excludes CPP, OAS and QPP from this credit's definition of "pension income" — it's designed for private/employer pension, RRIF, annuity and DPSP income instead.
I'm 62 and started a RRIF. Do I qualify?
Not from the RRIF income alone at that age — RRIF income only qualifies before 65 if it was received because of your spouse's or common-law partner's death. A genuine RPP lifetime annuity would still qualify regardless of your age.
Can my spouse and I both claim it?
Yes, if you each have your own qualifying pension income — the $2,000 federal cap (and $1,762 Ontario cap) applies per person, not per couple. Pension income splitting via Form T1032 can also let one spouse's income create a second qualifying claim for the other.
Is this credit refundable?
No. It's non-refundable — it reduces tax payable but can't create a refund by itself.
Estimate only
Uses the most recently CRA-confirmed federal and Ontario caps and rates. Does not model every province's own version of this credit, or the pension income splitting rules under Form T1032 in detail. Confirm your exact entitlement with CRA or a tax professional.