Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures - April to June 2014
New benefits maximum amount 2014 | Number of benefits January 2014 |
Amounts paid January 2014 |
||||
---|---|---|---|---|---|---|
CPP | QPP | CPP | QPP | CPP (in millions) | QPP (in millions) | |
Retirement (at age 65) | $1,038.33 | $1,038.33 | 4,451,971 | 1,598,216 | $2,402.8 | $774.4 |
Post–Retirement Benefit (CPP) (at age 65) Footnote 1 | $25.96 | 470,476 | $5.2 | |||
Retirement Pension Supplement (QPP) Footnote 2 | $19.83 | 336,889 | $6.3 | |||
Disability | $1,236.35 | $1,236.32 | 329,656 | 68,347 | $284.1 | $63.1 |
Survivor – younger than 65 | $567.91 | (see Note 1) | 230,673 | 72,209 | $88.4 | $48.0 |
Survivor – 65 and older | $623.00 | $623.00 | 839,120 | 287,949 | $260.9 | $89.7 |
Total - Survivor benefits | 1,069,793 | 360,158 | $349.2 | $137.7 | ||
Children of disabled contributor | $230.72 | $73.25 | 79,732 | 7,221 | $18.4 | $0.7 |
Children of deceased contributor | $230.72 | $230.72 | 64,108 | 13,856 | $14.8 | $3.3 |
Death (maximum one-time payment) | $2,500.00 | $2,500.00 | 9,760 | 4,171 | $22.2 | $10.3 |
Total - CPP/QPP benefits | 6,475,496 | 2,051,969 | $3,096.6 | $989.5 | ||
Combined benefits | ||||||
Survivor/retirement (retirement at 65) |
$1,038.33 | $1,038.33 | 768,653 | 241,793 | $591.8 | $167.6 |
Survivor/disability | $1,236.35 | Not applicable | 14,364 | 2,430 | $14.2 | $2.7 |
Total - Combined benefits | 783,017 | 244,223 | $606.0 | $170.3 |
Flat amount | Earnings-related portion | Total | |
---|---|---|---|
CPP disability benefit | $457.60 | $778.75 | $1,236.35 |
CPP survivor benefit – younger than 65 | $178.54 | $389.37 | $567.91 |
QPP disability benefit | $457.57 | $778.75 | $1,236.32 |
Flat amount | Earnings-related portion | Total | |
---|---|---|---|
QPP survivor benefit – younger than 45 (Return to note 1) | |||
Not disabled, no child | $117.19 | $389.37 | $506.56 |
Not disabled, with child | $424.86 | $389.37 | $814.23 |
Disabled | $457.57 | $389.37 | $846.94 |
QPP survivors - age 45 to 64 | $457.57 | $389.37 | $846.94 |
Calculation of CPP maximum monthly amounts for new benefits
Retirement:
25% of 1/12 of the average year's maximum pensionable earnings (YMPE) for the last five years
Disability:
(retirement x 0.75) + flat amount ($457.60)
Survivor:
- younger than 65: (retirement x 0.375) + flat amount ($178.54)
- 65 and older: retirement x 0.60
Post Retirement: 1/40 of the retirement benefit
April to June 2014 | January 2014 | ||||
---|---|---|---|---|---|
Maximum amount Footnote 3 | Income level cut-off Footnote 4 | Income level cut-off for top-ups Footnote 4 | Number of benefits | Amount paid (in millions) | |
Old Age Security pension Footnote 5 | $551.54 | Not applicable | 5,359,890 | $2,789.5 | |
Guaranteed Income Supplement (GIS) | |||||
Single | $747.86 | $16,728 | $4,496 | 1,055,809 | $528.1 |
Spouse/common-law partner of someone who: | |||||
does not receive an OAS pension | $747.86 | $40,080 | $8,992 | 86,687 | $42.4 |
receives an OAS pension | $495.89 | $22,080 | $7,552 | 564,938 | $181.5 |
is an Allowance recipient | $495.89 | $40,080 | $7,552 | 58,083 | $24.1 |
Total - GIS Footnote 6 | 1,765,517 | $776.2 | |||
Allowance | $1,047.43 | $30,912 | $7,552 | 58,079 | $25.1 |
Allowance for the Survivor | $1,172.65 | $22,512 | $4,496 | 23,863 | $15.3 |
Total - Allowance and Allowance for the Survivor Footnote 6 | 81,942 | $40.4 |
OAS | GIS | Allowance | Total |
---|---|---|---|
$33,555 | $10,123 | $544 | $44,222 |
CPP | QPP | |
---|---|---|
Year's maximum pensionable earnings (YMPE) (2014) | $52,500.00 | $52,500.00 |
Year's basic exemption (2014) | $3,500.00 | $3,500.00 |
Employee/employer maximum contribution | (4.95%) $2,425.50 | (5.175%) $2,535.75 |
Self-employed maximum contribution | (9.9%) $4,851.00 | (10.35%) $5,071.50 |
Account balance (March 2013) | $187,148 million | $36,585 million |
Contributions (2012-13) | $41,655 million | $11,947 million |
Number of contributors (2011) | 13.0 million | 4.0 million |
Indexation rate (January 2014) | 0.9% | 0.9% |
CPP | QPP |
---|---|
$39,371 | $12,700 |
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