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

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

New benefits maximum amount 2015 Number of benefits

July 2015
Amounts paid

July 2015
CPP QPP CPP QPP CPP (in millions) QPP (in millions)
Retirement (at age 65) $1,065.00 $1,065.00 4,691,601 1,704,275 $2,582.7 $837.7
Post–Retirement Benefit (CPP) (at age 65) Footnote 1 $26.63 1,162,851 $13.5
Retirement Pension Supplement (QPP) Footnote 1 $20.42 462,892 $10.1
Disability $1,264.59 $1,264.56 331,455 65,302 $290.8 $61.8
Survivor – younger than 65 $581.13 (see Note 1) 225,890 69,694 $87.7 $47.0
Survivor – 65 and older $639.00 $639.00 856,550 295,005 $267.7 $92.7
Total - Survivor benefits Footnote 2 1,082,440 364,699 $355.4 $139.7
Children of disabled contributor $234.87 $74.57 87,109 6,737 $20.5 $0.7
Children of deceased contributor $234.87 $234.87 70,137 13,231 $16.4 $3.2
Death (one-time payment) $2,500.00 $2,500.00 15,925 4,618 $36.4 $11.3
Total - CPP/QPP benefits Footnote 2 6,278,667 2,158,862 $3,315.8 $1,064.5
Combined benefits
Survivor/retirement

(retirement at 65)
$1,065.00 $1,065.00 791,295 254,123 $625.7 $180.2
Survivor/disability $1,264.59 Not applicable 14,066 2,284 $14.3 $2.6
Total - Combined benefits Footnote 2 805,361 256,407 $640.0 $182.8

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

October to December 2015 July 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 $569.95 Not applicable 5,600,715 $2,984.5
Guaranteed Income Supplement (GIS)
Single $772.83 $17,280 $4,592 1,044,454 $525.6
Spouse/common-law partner of someone who:
does not receive an OAS pension $772.83 $41,424 $9,184 80,000 $38.5
receives an OAS pension $512.44 $22,848 $7,648 574,917 $184.4
is an Allowance recipient $512.44 $41,424 $7,648 51,273 $22.0
Total - GIS Footnote 2 1,750,644 $770.5
Allowance $1,082.39 $31,968 $7,648 51,270 $22.8
Allowance for the Survivor $1,211.79 $23,256 $4,592 21,150 $13.7
Total - Allowance and Allowance for the Survivor Footnote 2 72,420 $36.5

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 (December 2014) $241,547 million $42,742 million
Contributions (2013-2014) $43,181 million $12,323 million
Number of contributors (2013) 13.7 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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