Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures - April to June 2014

Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) - Type of benefit
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
Disability and survivor amounts
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
Note 1: Details of QPP benefits
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

Old Age Security (OAS) - Type of 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 forecasted expenditures, 2014–15 (in millions)
OAS GIS Allowance Total
$33,555 $10,123 $544 $44,222
Other CPP/QPP figures
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 forecasted expenditures, 2014–15 (in millions)
CPP QPP
$39,371 $12,700

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