Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures - October to December 2016
New benefits Maximum amount 2016 | Number of benefits July 2016 |
Amounts paid July 2016 |
||||
---|---|---|---|---|---|---|
CPP | QPP | CPP | QPP | CPP (in millions) | QPP (in millions) | |
Retirement (at age 65) | $1,092.50 | $1,092.50 | 4,859,600 | 1,764,919 | $2,710.9 | $877.2 |
Post–Retirement Benefit (CPP) (at age 65) Footnote 1 | $27.31 | not applicable | 2,049,959 | not applicable | $25.7 | not applicable |
Retirement Pension Supplement (QPP) Footnote 1 | not applicable | $20.88 | not applicable | 527,410 | not applicable | $12.4 |
Disability | $1,290.81 | $1,290.78 | 334,788 | 65,515 | $297.4 | $63.7 |
Survivor – younger than 65 | $593.62 | (see Note Footnote 1 ) | 223,757 | 67,601 | $87.8 | $46.1 |
Survivor – 65 and older | $655.50 | $655.50 | 874,373 | 299,571 | $273.8 | $94.6 |
Total - Survivor benefits Footnote 2 | not applicable | not applicable | 1,098,130 | 367,172 | $361.6 | $140.6 |
Children of disabled contributor | $237.69 | $75.46 | 87,172 | 6,708 | $20.7 | $0.7 |
Children of deceased contributor | $237.69 | $237.69 | 69,086 | 12,813 | $16.4 | $3.1 |
Death (maximum one-time payment) | $2,500.00 | $2,500.00 | 11,970 | 4,440 | $27.4 | $9.7 |
Total - CPP/QPP benefits Footnote 2 | not applicable | not applicable | 6,460,746 | 2,220,567 | $3,460.1 | $1,107.4 |
Combined benefits | ||||||
Survivor/retirement (retirement at 65) |
$1,092.50 | $1,092.50 | 813,449 | 261,292 | $651.4 | $187.8 |
Survivor/disability | $1,290.81 | not applicable | 14,161 | 2,206 | $14.5 | $2.5 |
Total - Combined benefits Footnote 2 | not applicable | not applicable | 827,610 | 263,498 | $666.0 | $190.3 |
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 |
Flat amount | Earnings-related portion | Total | |
---|---|---|---|
QPP survivor benefit – younger than 45 (Return to note Footnote 1 ) | |||
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
October to December 2016 | July 2016 | ||||
---|---|---|---|---|---|
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 | $578.53 | not applicable | not applicable | 5,766,607 | $3,123.0 |
Guaranteed Income Supplement (GIS) | |||||
Single | $864.09 | $17,544 | $8,432 | 1,069,732 | $585.8 |
Spouse/common-law partner of someone who: | |||||
does not receive an OAS pension | $864.09 | $42,048 | $16,864 | 87,502 | $44.8 |
receives an OAS pension | $520.17 | $23,184 | $7,648 | 588,687 | $192.4 |
is an Allowance recipient | $520.17 | $42,048 | $7,648 | 47,153 | $20.9 |
Total - GIS Footnote 2 | not applicable | not applicable | not applicable | 1,793,074 | $843.9 |
Allowance | $1,098.70 | $32,448 | $7,648 | 47,153 | $22.0 |
Allowance for the Survivor | $1,309.67 | $23,616 | $8,432 | 21,864 | $14.7 |
Total - Allowance and Allowance for the Survivor Footnote 2 | not applicable | not applicable | not applicable | 69,017 | $36.7 |
OAS | GIS | Allowance | Total |
---|---|---|---|
$37,086 | $10,804 | $516 | $48,407 |
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 (December 2015) | $285,358 million | $45,535 million |
Contributions (2014-2015) | $45,046 million | $12,687 million |
Number of contributors (2014) | 13.9 million | (estimated) 4.1 million |
Indexation rate (January 2016) | 1.2% | 1.2% |
CPP | QPP |
---|---|
$43,619 | $13,786 |
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