you can apply to receive equal shares of the CPP
retirement pensions that you both earned during the years
you were living together. See Pension
Sharing on the Service Canada website.
This could be beneficial if one spouse is in a higher tax
bracket, but clawback of OAS, spousal tax
credit, and senior's tax credits must be considered.
See the tables of
non-refundable personal tax credits for levels at which the tax credits
are reduced or eliminated.
Other pension income may also be split with a spouse
beginning in 2007. See the article on pension
income splitting on the Personal Tax page.
Tax Tip: You may save tax by
splitting CPP retirement pension with a lower-income spouse.
Revised: September 25, 2013