If Box 28 on your 2022 T4A statement from CSSB indicates an amount, it likely means you received part of the group life insurance fund surplus. This money was shared among eligible employees and pensioners. The funds were distributed along with your monthly pension in May 2022.

The Canada Revenue Agency (CRA) advised that the surplus is taxable because it was the result of good investments. CSSB must report the money paid and you are required to pay taxes on it.

If you have questions about the taxable surplus, please contact CRA or discuss it with your accountant.