Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures - April to June 2016

Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) - Type of benefit
	CPP	QPP	CPP	QPP	CPP (in millions)	QPP (in millions)
	New benefits maximum amount 2016		Number of benefits January 2016		Amounts paid January 2016
Retirement (at age 65)	$1,092.50	$1,092.50	4,776,592	1,735,684	$2,662.7	$864.3
Post–Retirement Benefit (CPP) (at age 65)^{Footnote 1}	$27.31		1,495,147		$18.2
Retirement Pension Supplement (QPP) ^{Footnote 1}		$20.88		466,840		$10.3
Disability	$1,290.81	$1,290.78	334,096	65,050	$296.6	$62.4
Survivor – younger than 65	$593.62	(see Note 1)	224,723	68,604	$88.2	$46.7
Survivor – 65 and older	$655.50	$655.50	865,654	297,059	$272.4	$94.4
Total - Survivor benefits^{Footnote 2}			1,090,377	365,663	$360.5	$141.1
Children of disabled contributor	$237.69	$75.46	78,257	6,721	$18.6	$0.7
Children of deceased contributor	$237.69	$237.69	60,876	13,024	$14.4	$3.2
Death (maximum one-time payment)	$2,500.00	$2,500.00	12,765	4,381	$29.3	$10.8
Total - CPP/QPP benefits^{Footnote 2}			6,352,963	2,190,523	$3,400.4	$1,092.8
Combined benefits
Survivor/retirement (retirement at 65)	$1,092.50	$1,092.50	803,140	257,496	$642.7	$184.9
Survivor/disability	$1,290.81	Not applicable	14,182	2,234	$14.6	$2.6
Total - Combined benefits^{Footnote 2}			817,322	259,730	$657.3	$187.5

Disability and survivor amounts
	Flat amount	Earnings-related portion	Total
CPP disability benefit	$471.43	$819.38	$1,290.81
CPP survivor benefit – younger than 65	$183.93	$409.69	$593.62
QPP disability benefit	$471.40	$819.38	$1,290.78

Note 1 - Details of QPP benefits
QPP survivor benefit – younger than 45 (Return to note 1)
	Flat amount	Earnings-related portion	Total
Not disabled, no child	$120.73	$409.69	$530.42
Not disabled, with child	$437.70	$409.69	$847.39
Disabled	$471.40	$409.69	$881.09
QPP survivors - age 45 to 64	$471.40	$409.69	$881.09

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 ($471.43)

Survivor:

younger than 65: (retirement x 0.375) + flat amount ($183.93)
65 and older: retirement x 0.60

Old Age Security (OAS) - Type of benefit
	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)
	April to June 2016			January 2016
Old Age Security pension ^{Footnote 5}	$570.52	Not applicable		5,684,289	$3,067.0
Guaranteed Income Supplement (GIS)
Single	$773.60	$17,304	$4,592	1,112,118	$582.2
Spouse/common-law partner of someone who:
does not receive an OAS pension	$773.60	$41,472	$9,184	88,392	$46.9
receives an OAS pension	$512.96	$22,848	$7,648	610,040	$201.2
is an Allowance recipient	$512.96	$41,472	$7,648	52,440	$23.5
Total - GIS ^{Footnote 2}				1,862,990	$853.8
Allowance	$1,083.48	$32,016	$7,648	52,431	$25.1
Allowance for the Survivor	$1,213.00	$23,328	$4,592	22,187	$16.4
Total - Allowance and Allowance for the Survivor ^{Footnote 2}				74 618	$41.5

OAS forecasted expenditures, 2016–17 (in millions)
OAS	GIS	Allowance	Total
$37,086	$10,804	$516	$48,407

Other CPP/QPP figures
	CPP	QPP
Year's maximum pensionable earnings (YMPE) (2016)	$54,900.00	$54,900.00
Year's basic exemption (2016)	$3,500.00	$3,500.00
Employee/employer maximum contribution	(4.95%) $2,544.30	(5.325%) $2,737.05
Self-employed maximum contribution	(9.9%) $5,088.60	(10.65%) $5,474.10
Account balance (March 2015)	$269,043 million	$43,149 million
Contributions (2014-2015)	$45,046 million	$12,687 million
Number of contributors (2013)	13.7 million	(estimated) 4.0 million
Indexation rate (January 2016)	1.2%	1.2%

CPP/QPP forecasted expenditures, 2016–17 (in millions)
CPP	QPP
$43,619	$13,786

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Footnotes

Footnote 1

Each year a valid contribution is made to the CPP while a retirement pension is being received, the person becomes eligible for a post-retirement benefit (PRB) in January of the following year and thus can receive more than one PRB. Since the PRB is a supplementary benefit which enhances the retirement benefit, the number of PRBs is not included in the total CPP benefits. This exclusion applies to the Retirement Pension Supplement for the total QPP benefits.

Return to first footnote 1 referrer

Footnote 2

Total may not add up due to rounding.

Return to first footnote 2 referrer

Footnote 3