Classification of income sources

• 1 - Market income

1.3 - Private retirement income

This category refers to all regular income received during the reference period associated with employer or personal retirement pensions, benefits or savings plans. It includes payments received from all annuities, including payments from employer's registered retirement plans (RPP), pooled registered pension plans (PRPP) and matured registered retirement savings plans (RRSP) in the form of a life annuity, a fixed-term annuity, a registered retirement income fund (RRIF) or an income-averaging annuity contract; pensions paid to widow(er)s or other relatives of deceased pensioners; pensions of retired civil servants, Canadian Forces personnel and Royal Canadian Mounted Police (RCMP) officers; annuity payments received from the Canadian Government Annuities Fund, an insurance company, etc. It does not include lump-sum death benefits, lump-sum benefits or withdrawals from a pension plan or RRSP or refunds of over-contributions. Income from a tax-free savings account (TFSA) is not considered retirement income but rather investment income.