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Old 19th Nov 2010, 20:49
  #669 (permalink)  
ACAV8R
 
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"One cannot contribute to a pension plan at the same time one receives benefit payments from a pension plan. In other words, their pension plan contributions are recommenced. The payments that they are receiving as salary come 100% from pilot payroll; none of it comes from the pension plan."

OverUnder, that is correct and is a CRA rule. I am sure that the CRA will be taking a very close look at this remedy ruling, and will be wringing their hands in glee at the prospect of taxing the settlement amount.
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