Transferring retiring allowances (severance pay)

This is an amount you receive on or after retirement from an office or employment in recognition of long service. It includes payment for unused sick leave and amounts you receive for loss of office or employment, whether as a payment of damages or a payment under an order or judgment of a tribunal.

Forms and publications

• Income Tax Folio S2-F1-C2, Retiring Allowances
• Guide T4040, RRSPs and Other Registered Plans for Retirement