Archived - Backgrounder on Canada Pension Plan (CPP) Enhancement
Share and Number of Families Near Retirement Who May Not Be Saving Enough to Replace 60 per cent of Their After-Tax Income, by Income Quintiles
Share % | Number of families | |
Bottom 20% |
10 | Representing 90,000 families |
Second |
25 | Representing 233,000 families |
Third |
31 | Representing 283,000 families |
Fourth |
28 | Representing 261,000 families |
Top 20% | 25 | Representing 232,000 families |
All families | 24 | Representing 1.1 million families |
Share of Lower-Income Families (%) Near Retirement Who May Not Be Saving Enough, by Income Replacement Rate Target Scenario
Share of Lower-Income Families (%) | |
Baseline scenario: 60% income replacement | 10 |
---|---|
Scenario 2: 70% replacement | 24 |
Expected Age at Death for Those Aged 65, 1961 to 2071
Year | Males | Females |
---|---|---|
1961 | 78.9 | 82.8 |
1962 | 79.0 | 83.0 |
1963 | 79.1 | 83.1 |
1964 | 79.1 | 83.3 |
1965 | 78.8 | 83.2 |
1966 | 78.8 | 83.2 |
1967 | 79.2 | 83.6 |
1968 | 79.1 | 83.6 |
1969 | 79.3 | 83.7 |
1970 | 79.2 | 83.8 |
1971 | 79.4 | 83.8 |
1972 | 79.5 | 84.0 |
1973 | 79.4 | 84.0 |
1974 | 79.6 | 84.1 |
1975 | 79.6 | 84.2 |
1976 | 79.8 | 84.3 |
1977 | 79.9 | 84.4 |
1978 | 80.0 | 84.5 |
1979 | 80.1 | 84.6 |
1980 | 80.3 | 84.6 |
1981 | 80.5 | 84.9 |
1982 | 80.6 | 85.0 |
1983 | 80.8 | 85.2 |
1984 | 81.1 | 85.5 |
1985 | 81.0 | 85.2 |
1986 | 81.3 | 85.5 |
1987 | 81.4 | 85.6 |
1988 | 81.8 | 85.8 |
1989 | 81.9 | 85.9 |
1990 | 82.1 | 86.0 |
1991 | 82.2 | 86.1 |
1992 | 82.5 | 86.3 |
1993 | 82.6 | 86.3 |
1994 | 82.9 | 86.5 |
1995 | 83.0 | 86.6 |
1996 | 83.3 | 86.7 |
1997 | 83.4 | 86.9 |
1998 | 83.7 | 86.9 |
1999 | 83.9 | 87.1 |
2000 | 84.1 | 87.2 |
2001 | 84.2 | 87.3 |
2002 | 84.5 | 87.4 |
2003 | 84.6 | 87.5 |
2004 | 84.8 | 87.6 |
2005 | 84.9 | 87.7 |
2006 | 85.1 | 87.8 |
2007 | 85.2 | 87.9 |
2008 | 85.3 | 88.0 |
2009 | 85.5 | 88.1 |
2010 | 85.6 | 88.1 |
2011 | 85.7 | 88.2 |
2012 | 85.8 | 88.3 |
2013 | 85.9 | 88.3 |
2014 | 86.0 | 88.4 |
2015 | 86.0 | 88.5 |
2016 | 86.1 | 88.5 |
2017 | 86.2 | 88.6 |
2018 | 86.3 | 88.6 |
2019 | 86.3 | 88.7 |
2020 | 86.4 | 88.8 |
2021 | 86.5 | 88.8 |
2022 | 86.5 | 88.9 |
2023 | 86.6 | 88.9 |
2024 | 86.6 | 89.0 |
2025 | 86.7 | 89.0 |
2026 | 86.7 | 89.1 |
2027 | 86.8 | 89.1 |
2028 | 86.8 | 89.2 |
2029 | 86.9 | 89.2 |
2030 | 87.0 | 89.3 |
2031 | 87.0 | 89.3 |
2032 | 87.1 | 89.4 |
2033 | 87.1 | 89.4 |
2034 | 87.2 | 89.5 |
2035 | 87.2 | 89.5 |
2036 | 87.3 | 89.6 |
2037 | 87.3 | 89.6 |
2038 | 87.4 | 89.7 |
2039 | 87.4 | 89.7 |
2040 | 87.5 | 89.8 |
2041 | 87.6 | 89.8 |
2042 | 87.6 | 89.9 |
2043 | 87.7 | 89.9 |
2044 | 87.7 | 90.0 |
2045 | 87.8 | 90.0 |
2046 | 87.8 | 90.1 |
2047 | 87.9 | 90.1 |
2048 | 87.9 | 90.2 |
2049 | 88.0 | 90.2 |
2050 | 88.0 | 90.3 |
2051 | 88.1 | 90.3 |
2052 | 88.1 | 90.4 |
2053 | 88.2 | 90.4 |
2054 | 88.2 | 90.5 |
2055 | 88.3 | 90.5 |
2056 | 88.3 | 90.6 |
2057 | 88.4 | 90.6 |
2058 | 88.5 | 90.7 |
2059 | 88.5 | 90.7 |
2060 | 88.6 | 90.8 |
2061 | 88.6 | 90.8 |
2062 | 88.7 | 90.9 |
2063 | 88.7 | 90.9 |
2064 | 88.8 | 90.9 |
2065 | 88.8 | 91.0 |
2066 | 88.9 | 91.0 |
2067 | 88.9 | 91.1 |
2068 | 89.0 | 91.1 |
2069 | 89.0 | 91.2 |
2070 | 89.1 | 91.2 |
2071 | 89.1 | 91.3 |
Note: Projection reflects cohort life expectancies at age 65. Source: Office of the Chief Actuary. |
Share of Private Sector Employees Covered by an RPP, 1977 to 2013
per cent
Year |
Defined benefit RPP coverage |
Defined contribution RPP coverage |
Total RPP coverage |
---|---|---|---|
1977 | 31 | 3 | 35 |
1979 | 31 | 3 | 34 |
1981 | 31 | 3 | 34 |
1983 | 30 | 3 | 34 |
1985 | 29 | 4 | 33 |
1987 | 27 | 4 | 31 |
1989 | 26 | 4 | 31 |
1991 | 26 | 4 | 31 |
1992 | 26 | 4 | 31 |
1993 | 25 | 5 | 31 |
1994 | 24 | 5 | 30 |
1995 | 24 | 5 | 29 |
1996 | 23 | 5 | 29 |
1997 | 22 | 6 | 28 |
1998 | 21 | 6 | 28 |
1999 | 21 | 6 | 28 |
2000 | 21 | 6 | 28 |
2001 | 20 | 6 | 28 |
2002 | 20 | 6 | 27 |
2003 | 19 | 7 | 27 |
2004 | 19 | 6 | 26 |
2005 | 18 | 6 | 26 |
2006 | 17 | 7 | 26 |
2007 | 16 | 7 | 26 |
2008 | 14 | 7 | 25 |
2009 | 14 | 7 | 25 |
2010 | 13 | 7 | 24 |
2011 | 12 | 7 | 24 |
2012 | 11 | 7 | 24 |
2013 | 11 | 7 | 24 |
Source: Statistics Canada. |
Illustration of Annual Enhanced CPP Benefits for Different Age Cohorts and Income Levels ($2016)
$25,000 | $50,000 | $75,000 | |
---|---|---|---|
5 years of contributions (60 years old in 2025) |
200 | 500 | 900> |
15 years of contributions (50 years old in 2025) |
700 | 1,500 | 2,600 |
25 years of contributions (40 years old in 2025) |
1,200 | 2,500 | 4,300 |
35 years of contributions (30 years old in 2025) |
1,700 | 3,500 | 6,000 |
40 years of contributions (25 years old in 2025) |
2,000 | 4,000 | 6,800 |
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