Q. Do I have to claim my pension as income?
A. Yes and no.
All income is taxable, no matter how small the amount. So, yes, if you filing a tax return, you must declare that pension income.
But, there is a minimum income before you even have to file a tax return. If that pension and your social security are your only income, you do not need to file a tax return. That filing threshold is $14,250 single and $27,800 married (age 65+).
That threshold does not include your social security. Social security only becomes taxable when added to sufficient other income.
