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

Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) - Type of benefit
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
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
Details of QPP benefits
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
Old Age Security (OAS) - Type of benefit
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 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 (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 forecasted expenditures, 2016–17 (in millions)
CPP QPP
$43,619 $13,786

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