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

Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) - Type of benefit
New benefits maximum amount 2015 Number of benefits

October 2014
Amounts paid

October 2014
CPP QPP CPP QPP CPP (in millions) QPP (in millions)
Retirement (at age 65) $1,065.00 $1,065.00 4,568,809 1,656,586 $2,467.7 $807.0
Post–Retirement Benefit (CPP) (at age 65) Footnote 1 $26.63 959,362 $11.1
Retirement Pension Supplement (QPP) Footnote 2 $20.42 382,844 $7.9
Disability $1,264.59 $1,264.56 328,601 65,889 $283.1 $61.8
Survivor – younger than 65 $581.13 (see Note 1) 227,019 70,694 $86.8 $46.9
Survivor – 65 and older $639.00 $639.00 846,671 291,714 $261.9 $90.6
Total - Survivor benefits 1,073,690 362,408 $348.7 $137.5
Children of disabled contributor $234.87 $74.57 73,791 6,891 $17.0 $0.7
Children of deceased contributor $234.87 $234.87 58,600 13,441 $13.5 $3.2
Death (maximum one-time payment) $2,500.00 $2,500.00 10,715 3,912 $24.4 $9.6
Total - CPP/QPP benefits 7,073,568 2,109,127 $3,165.6 $1,019.8
Combined benefits
Survivor/retirement

(retirement at 65)
$1,065.00 $1,065.00 781,056 247,983 $602.2 $172.3
Survivor/disability $1,264.59 Not applicable 14,348 2,323 $14.2 $2.6
Total - Combined benefits 795,404 250,306 $616.4 $174.9
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
January to March 2015 October 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 $563.74 Not applicable 5,487,498 $2,920.9
Guaranteed Income Supplement (GIS)
Single $764.40 $17,088 $4,544 1,035,107 $537.0
Spouse/common-law partner of someone who:
does not receive an OAS pension $764.40 $40,944 $9,088 78,294 $40.6
receives an OAS pension $506.86 $22,560 $7,552 554,710 $187.1
is an Allowance recipient $506.86 $40,944 $7,552 54,524 $23.8
Total - GIS Footnote 6 1,722,635 $788.5
Allowance $1,070.60 $31,584 $7,552 54,524 $24.9
Allowance for the Survivor $1,198.58 $23,016 $4,544 23,594 $15.6
Total - Allowance and Allowance for the Survivor Footnote 6 78,118 $40.6
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) (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, 2014–15 (in millions)
CPP QPP
$39,371 $12,700

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