Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures - April to June 2015

Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) - Type of benefit

New benefits maximum amount 2015 Number of benefits

January 2015
Amounts paid

January 2015
CPP QPP CPP QPP CPP (in millions) QPP (in millions)
Retirement (at age 65) $1,065.00 $1,065.00 4,615,319 1,671,681 2,539.2 $830.1
Post–Retirement Benefit (CPP) (at age 65) Footnote 1 $26.63 965,456 11.3
Retirement Pension Supplement (QPP) Footnote 2 $20.42 384,915 $8.1
Disability $1,264.59 $1,264.56 329,388 65,383 288.9 $61.7
Survivor – younger than 65 $581.13 (see Note 1) 227,044 70,380 88.3 $47.6
Survivor – 65 and older $639.00 $639.00 849,571 292,618 267.0 $92.4
Total - Survivor benefits 1,076,615 362,998 355.2 $140.0
Children of disabled contributor $234.87 $74.57 77,519 6,770 18.2 $0.6
Children of deceased contributor $234.87 $234.87 61,992 13,364 14.5 $3.2
Death (maximum one-time payment) $2,500.00 $2,500.00 12,958 5,144 29.6 $12.6
Total - CPP/QPP benefits 7,139,247 2,125,340 3,257.0 $1,048.2
Combined benefits
Survivor/retirement

(retirement at 65)
$1,065.00 $1,065.00 784,945 249,750 617.9 $176.7
Survivor/disability $1,264.59 Not applicable 14,311 2,314 14.4 $2.6
Total - Combined benefits 799,256 252,064 632.3 $179.3

Disability and survivor amounts

Flat amount Earnings-related portion Total
CPP disability benefit $465.84 $798.75 $1,264.59
CPP survivor benefit – younger than 65 $181.75 $399.38 $581.13
QPP disability benefit $465.81 $798.75 $1,264.56

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 $119.30 $399.38 $518.68
Not disabled, with child $432.51 $399.38 $831.89
Disabled $465.81 $399.38 $865.19
QPP survivors - age 45 to 64 $465.81 $399.38 $865.19

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 ($465.84)

Survivor:

  • younger than 65: (retirement x 0.375) + flat amount ($181.75)
  • 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 2015 January 2015
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 $563.74 Not applicable 5,530,420 $2,943.4
Guaranteed Income Supplement (GIS)
Single $764.40 $17,088 $4,544 1,053,585 $546.9
Spouse/common-law partner of someone who:
does not receive an OAS pension $764.40 $40,944 $9,088 82,594 $42.4
receives an OAS pension $506.86 $22,560 $7,552 563,334 $189.5
is an Allowance recipient $506.86 $40,944 $7,552 55,244 $24.0
Total - GIS Footnote 6 1,754,757 $802.8
Allowance $1,070.60 $31,584 $7,552 55,239 $25.2
Allowance for the Survivor $1,198.58 $23,016 $4,544 24,072 $15.9
Total - Allowance and Allowance for the Survivor Footnote 6 79,311 $41.0

OAS forecasted expenditures, 2015–16 (in millions)

OAS GIS Allowance Total
$34,921 $10,606 $546 $46,072

Other CPP/QPP figures

CPP QPP
Year's maximum pensionable earnings (YMPE) (2015) $53,600.00 $53,600.00
Year's basic exemption (2015) $3,500.00 $3,500.00
Employee/employer maximum contribution (4.95%) $2,479.95 (5.250%) $2,630.25
Self-employed maximum contribution (9.9%) $4,959.90 (10.50%) $5,260.50
Account balance (March 2014) $223,042 million $40,089 million
Contributions (2013-2014) $43,181 million $12,323 million
Number of contributors (2012) 13.2 million (estimated) 4.0 million
Indexation rate (January 2015) 1.8% 1.8%

CPP/QPP forecasted expenditures, 2015–16 (in millions)

CPP QPP
$41,612 $13,300

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