# T215 - Past Service pension adjustment



## potato69 (Mar 21, 2018)

Hello,

Last week I received a T215 - Past Service pension adjustment.

This was a new form for me - never knew it existed. 

Anyway, a letter came with it that said it will impact my future RRSP contribution room (which is fine).

The PSPA amount was in the range of around $5000. Will this result in a tax refund when I submit my 2019 taxes?

Thank you


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## Eclectic12 (Oct 20, 2010)

The T215 PSPA Exempt from Certification seems to mean this won't use up your RRSP contribution room.



> A PSPA is required to ensure that the overall limit on tax-assisted retirement savings of 18% of income is maintained. It achieves this goal by reducing an individual's RRSP contribution room by the amount of the PSPA.


https://www.canada.ca/en/revenue-ag...spa/past-service-pension-adjustment-pspa.html


The aim of the PSPA is to *reduce* the RRSP contribution room being earned, for the amount of the future pension is being increased. It won't increase or decrease what RRSP deductions from income are taken on the 2019 tax return (i.e. no change in tax refund or owing amount). The RRSP contribution room earned on your 2019 tax return for use in 2020 and beyond will be reduced by the PSPA.


Cheers


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## potato69 (Mar 21, 2018)

Thanks for the response.

Bummer, I was hoping I had a $1500 tax refund coming!


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