Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures - January to March 2015
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 |
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 |
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
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 | GIS | Allowance | Total |
---|---|---|---|
$33,555 | $10,123 | $544 | $44,222 |
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 |
---|---|
$39,371 | $12,700 |
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