A pension adjustment (PA) is a reduction made to an individual's registered pension plan (RPP) or registered retirement savings plan (RRSP) in order to reflect the value of the individual's pension benefits. The pension adjustment is used to determine an individual's maximum RRSP contribution room for the following year. Can I withdraw my RPP? Yes, you are able to withdraw your Registered Retirement Savings Plan (RRSP) at any time. However, you will be subject to taxes and penalties if you do so before you reach the age of 71. How do I enter my pension on Turbotax? Pensions are one of the many types of income you can enter into TurboTax. To enter a pension, simply click on the "Income" tab and then select the "Pensions and Annuities" option. From there, you will be able to enter your pension information. Is pension income earned income for RRSP? Pension income is not considered earned income for RRSP purposes. How does a pension adjustment affect your taxes? A pension adjustment (PA) is a negative amount that is used to calculate your taxes owing for the year. The PA is based on your pensionable earnings and is used to reduce your allowable RRSP contribution room. What is a T10 pension adjustment reversal? A T10 pension adjustment reversal is a type of pension adjustment that is used to correct an over-contribution to a pension plan. This type of adjustment is typically made by an employer who has made an error in their pension contributions.