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

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

New benefits maximum amount 2015 Number of benefits

March 2015
Amounts paid

March 2015
CPP QPP CPP QPP CPP (in millions) QPP (in millions)
Retirement (at age 65) $1,065.00 $1,065.00 4,636,569 1,680,283 $2,551.1 $825.3
Post–Retirement Benefit (CPP) (at age 65) Footnote 1 $26.63 1,057,679 $12.5
Retirement Pension Supplement (QPP) Footnote 1 $20.42 441,501 $9.5
Disability $1,264.59 $1,264.56 329,528 65,341 $289.0 $63.8
Survivor – younger than 65 $581.13 (see Note 1) 227,164 70,260 $88.3 $47.4
Survivor – 65 and older $639.00 $639.00 851,356 292,754 $267.0 $92.3
Total - Survivor benefits Footnote 2 1,078,520 363,014 $355.3 $139.7
Children of disabled contributor $234.87 $74.57 83,092 6,769 $19.5 $0.7
Children of deceased contributor $234.87 $234.87 67,077 13,337 $15.7 $3.2
Death (maximum one-time payment) $2,500.00 $2,500.00 15,111 5,366 $34.6 $13.1
Total - CPP/QPP benefits Footnote 2 6,209,897 2,134,110 $3,277.8 $1,055.3
Combined benefits
Survivor/retirement

(retirement at 65)
$1,065.00 $1,065.00 784,572 250,789 $620.2 $177.6
Survivor/disability $1,264.59 Not applicable 14,106 2,306 $14.4 $2.6
Total - Combined benefits Footnote 2 798,678 253,095 $634.6 $180.2

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

Note1: 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

Old Age Security (OAS) - Type of benefit

July to September 2015 March 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 $564.87 Not applicable 5,547,190 $2,950.3
Guaranteed Income Supplement (GIS)
Single $765.93 $17,136 $4,544 1,068,299 $554.9
Spouse/common-law partner of someone who:
does not receive an OAS pension $765.93 $41,088 $9,088 85,020 $43.7
receives an OAS pension $507.87 $22,608 $7,648 571,303 $192.6
is an Allowance recipient $507.87 $41,088 $7,648 55,816 $24.2
Total - GIS Footnote 2 1,780,438 $815.4
Allowance $1,072.74 $31,680 $7,648 55,812 $25.3
Allowance for the Survivor $1,200.98 $23,088 $4,544 24,191 $16.0
Total - Allowance and Allowance for the Survivor Footnote 2 80,003 $41.3

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 (September 2014) $237,297 million $41,891 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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