How do I enter an employer defined benefit pension?

Open INCOMES, select Add Income and choose Defined benefit pension. Enter the plan member as owner, the payment start date and the gross annual pension before tax. Complete the pension-specific form and save.

Use the pension statement to distinguish a payment quoted in today’s dollars from one quoted for its future start date. Enter the first in the ordinary amount field or the second in the FUTURE currency field, not both. Set indexing to match the plan. For a level pension, uncheck indexing and leave the additional annual adjustment at zero.

Enter the guarantee period and survivor percentage from the selected pension option. A temporary bridge belongs in a separate Defined benefit bridge pension income; MRA sets it to end the month before age 65.

If you still contribute, first enter the salary, then link it on the pension form and enter your annual employee contribution and benefit-accrual percentage. For a pension from a previous job with no current contributions, leave Contributing unchecked. A defined contribution plan with an investment balance is entered as an account instead.