Retirees Tax Information
Retiree Health and Dental Benefits
Please review the information below regarding the extended health and dental benefit premiums you pay as a retiree, and the tax implications.
- Private health plan premiums are NOT a taxable benefit; therefore, no T4A will be issued by SFU.
- The premiums paid by the retiree can be claimed as a medical expense for tax purposes.
A letter from SFU confirming the total premiums paid is also NOT required by Canada Revenue Agency (“CRA”) to claim the expense on your tax return. As such, letters confirming annual benefit premiums paid will NOT be provided to all retirees.
Premiums paid will be confirmed by the following sources:
| Premiums paid by: | Confirmation |
|---|---|
| Bank direct debit | Monthly bank statement |
| CIBC monthly pension (staff) | see Box 135 of T4A provided by CIBC |
| Sun Life monthly pension (faculty) | see Box 135 of T4A provided by Sun Life |
Members were sent a letter in December from Human Resources outlining the tax information, as well as the breakdown of premiums paid in the past year for filing your taxes.
If you did not receive this letter or you have misplaced this, then you can find a printable copy through the below links:
Annual Letter to Retirees - 50% Plan
Annual Letter to Retirees - 100% Plan
If you did not receive the above letter in the mail, please make sure that your address is currently up to date with the HR office.
If you receive a written request from CRA to submit receipts for your medical expenses, you should provide CRA with the annual letter from SFU and/or the premiums summary document, along with the applicable record of your premium payments made (ie. Copy of bank statement or T4A, as per the table above).
If CRA then requests further proof of the expenses, please email us at pensions@sfu.ca and provide a copy of CRA request and the documentation that you submitted. We will review your submission and, if necessary, a confirmation letter may be provided at that time.
Additional Information
T4A's are mailed out by our pension custodians each February.
If you are receiving a monthly pension and have not received your annual tax slip from CIBC/Sun Life/BCCPP, please contact the respective Customer Care Centre:
- (Staff) CIBC: 1-800-565-0479
- (Faculty) Sun Life: 1-866-733-8612
- (Faculty) BCCPP: 1-866-322-8277