Jerry Mason and Janice Sparks are both 66-year-old Canadian residents. In 2022, they receive $7,700 each in Old Age Security (OAS) payments. Jerry also receives $88,000 from a registered pension plan (RPP), while Janice has no other income besides her OAS payments. They have not applied for Canada Pension Plan (CPP) benefits. To determine the federal income tax savings from pension income splitting for Jerry, we need to first calculate his taxable income. Jerry's income from the RPP.