Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures - April to June 2018

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

New benefits maximum amount 2018 Number of benefits

January 2018
Amounts paid

January 2018
CPP QPP CPP QPP CPP
(in millions)
QPP
(in millions)
Retirement (at age 65) $1,134.17 $1,134.17 5,100,153 1,849,931 $2,937.9 $948.2
Post–Retirement Benefit (CPP) (at age 65)Footnote 1 $28.35 not applicable 2,648,538 not applicable $34.7 not applicable
Retirement Pension Supplement (QPP) Footnote 1 not applicable $21.58 not applicable 587,125 not applicable $15.3
Disability $1,335.83 $1,335.80 338,312 62,447 $309.7 $62.1
Survivor – younger than 65 $614.62 (see Note Footnote 1) 219,182 64,411 $88.4 $45.3
Survivor – 65 and older $680.50 $680.50 896,723 306,143 $284.2 $98.1
Total - Survivor benefitsFootnote 2 not applicable not applicable 1,115,905 370,554 $372.7 $143.4
Children of disabled contributor $244.64 $77.67 78,442 6,739 $19.2 $0.7
Children of deceased contributor $244.64 $244.64 59,014 12,531 $14.4 $3.1
Death (maximum one-time payment) $2,500.00 $2,500.00 11,599 5,032 $26.7 $12.4
Total - CPP/QPP benefitsFootnote 2 not applicable not applicable 6,703,425 2,307,234 $3,715.2 $1,185.2
Combined benefits
Survivor/retirement
(retirement at 65)
$1,134.17 $1,134.17 844,887 271,556 $697.4 $201.3
Survivor/disability $1,335.83 not applicable 14,130 2,007 $14.9 $2.4
Total - Combined benefits not applicable not applicable 859,017 273,563 $712.3 $203.7

Disability and survivor amounts

Flat amount Earnings-related portion Total
CPP disability benefit $485.20 $850.63 $1,335.83
CPP survivor benefit – younger than 65 $189.31 $425.31 $614.62
QPP disability benefit $485.17 $850.63 $1,335.80

Details of QPP benefits

QPP survivor benefit – younger than 45 (Return to note Footnote 1)
Flat amount Earnings-related portion Total
Not disabled, no child $124.26 $425.31 $549.57
Not disabled, with child $450.49 $425.31 $875.80
Disabled $485.17 $425.31 $910.48
QPP survivors - age 45 to 64 $485.17 $425.31 $910.48

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 ($485.20)

Survivor:

  • younger than 65: (retirement x 0.375) + flat amount ($189.31)
  • 65 and older: retirement x 0.60

Post Retirement:

1/40 of the retirement benefit

Old Age Security (OAS) - Type of benefit

April to June 2018 January 2018
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 $589.59 not applicable not applicable 6,062,989 $3,364.9
Guaranteed Income Supplement (GIS)
Single $880.61 $17,880 $8,576 1,174,416 $669.2
Spouse/common-law partner of someone who:
does not receive an OAS pension $880.61 $42,864 $17,152 97,241 $52.4
receives an OAS pension $530.12 $23,616 $7,744 649,588 $219.4
is an Allowance recipient $530.12 $42,864 $7,744 50,344 $23.0
Total - GIS Footnote 2 not applicable not applicable not applicable 1,971,589 $964.0
Allowance $1,119.71 $33,072 $7,744 50,338 $24.1
Allowance for the Survivor $1,334.72 $24,072 $8,576 22,905 $16.1
Total - Allowance and Allowance for the Survivor Footnote 2 not applicable not applicable not applicable 73,243 $40.2

Other CPP/QPP figures

CPP QPP
Year's maximum pensionable earnings (YMPE) (2018) $55,900.00 $55,900.00
Year's basic exemption (2018) $3,500.00 $3,500.00
Employee/employer maximum contribution (4.95%) $2,593.80 (5.4%) $2,829.60
Self-employed maximum contribution (9.9%) $5,187.60 (10.8%) $5,659.20
Account balance (September 2017) $331,186 million $51,051 million
Contributions (2016 to 2017) $46,966 million $13,900 million
Number of contributors (2015) 14.0 million (estimated) 4.1 million
Indexation rate (January 2018) 1.5% 1.5%

OAS and CPP/QPP forecasted expenditures, 2018 to 2019 (in billions)

OAS CPP QPP
$53.7 $47.2 $14.9

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