Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures - January to March 2014
New benefits maximum amount 2014 | Number of benefits October 2013 | Amounts paid October 2013 | ||||
---|---|---|---|---|---|---|
CPP | QPP | CPP | QPP | CPP (in millions) | QPP (in millions) | |
Retirement (at age 65) | $1,038.33 | $1,038.33 | 4,413,318 | 1,570,425 | $2,357.1 | $753.1 |
Post–Retirement Benefit (CPP) (at age 65) Footnote 1 | $25.96 | 464,239 | $5.1 | |||
Retirement Pension Supplement (QPP) Footnote 2 | $19.83 | 334,440 | $6.2 | |||
Disability | $1,236.35 | $1,236.32 | 329,624 | 69,086 | $281.7 | $64.9 |
Survivor – younger than 65 | $567.91 | (see Note 1) | 231,701 | 72,667 | $88.0 | $47.8 |
Survivor – 65 and older | $623.00 | $623.00 | 837,811 | 287,097 | $258.4 | $89.0 |
Total - Survivor benefits | 1,069,512 | 359,764 | $346.5 | $136.8 | ||
Children of disabled contributor | $230.72 | $73.25 | 75,764 | 7,319 | $17.3 | $0.7 |
Children of deceased contributor | $230.72 | $230.72 | 60,426 | 13,993 | $13.8 | $3.3 |
Death (maximum one-time payment) | $2,500.00 | $2,500.00 | 11,123 | 3,689 | $25.2 | $9.1 |
Total - CPP/QPP benefits | 6,424,006 | 2,024,276 | $3,046.8 | $967.9 | ||
Combined benefits | ||||||
Survivor/retirement (retirement at 65) |
$1,038.33 | $1,038.33 | 764,236 | 239,736 | $583.1 | $164.4 |
Survivor/disability | $1,236.35 | Not applicable | 14,434 | 2,448 | $14.2 | $2.7 |
Total - Combined benefits | 778,670 | 242,184 | $597.3 | $167.1 |
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 | |
---|---|---|---|
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
January to March 2014 | October 2013 | ||||
---|---|---|---|---|---|
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 | 5,317,986 | $2,765.9 | |
Guaranteed Income Supplement (GIS) | |||||
Single | $747.86 | $16,728 | $4,496 | 1,039,823 | $520.5 |
Spouse/common-law partner of someone who: | |||||
does not receive an OAS pension | $747.86 | $40,080 | $8,992 | 82,030 | $40.4 |
receives an OAS pension | $495.89 | $22,080 | $7,552 | 556,384 | $179.0 |
is an Allowance recipient | $495.89 | $40,080 | $7,552 | 57,731 | $24.1 |
Total - GIS Footnote 6 | 1,735,968 | $764.1 | |||
Allowance | $1,047.43 | $30,912 | $7,552 | 57,726 | $25.0 |
Allowance for the Survivor | $1,172.65 | $22,512 | $4,496 | 24,026 | $15.4 |
Total - Allowance and Allowance for the Survivor Footnote 6 | 81,752 | $40.5 |
OAS | GIS | Allowance | Total |
---|---|---|---|
$32,352 | $9,735 | $547 | $42,634 |
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 |
---|---|
$37,676 | $12,100 |
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