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

July 2018
Amounts paid

July 2018
CPP QPP CPP QPP CPP
(in millions)
QPP
(in millions)
Retirement (at age 65) $1,134.17 $1,134.17 5,171,044 1,873,424 $2,981.8 $960.8
Post–Retirement Benefit (CPP) (at age 65)Footnote 1 $28.35 not applicable 3,228,603 not applicable $43.1 not applicable
Retirement Pension Supplement (QPP) Footnote 1 not applicable $21.58 not applicable 642,345 not applicable $17.8
Disability $1,335.83 $1,335.80 340,019 61,923 $311.5 $60.2
Survivor – younger than 65 $614.62 (see Note Footnote 1) 218,096 63,541 $88.1 $44.4
Survivor – 65 and older $680.50 $680.50 905,022 308,265 $285.1 $98.3
Total - Survivor benefitsFootnote 2 not applicable not applicable 1,123,118 371,806 $373.2 $142.7
Children of disabled contributor $244.64 $77.67 88,033 6,690 $21.6 $0.7
Children of deceased contributor $244.64 $244.64 67,192 12,544 $16.5 $3.1
Death (maximum one-time payment) $2,500.00 $2,500.00 13,231 4,532 $30.1 $11.2
Total - CPP/QPP benefitsFootnote 2 not applicable not applicable 6,802,637 2,330,919 $3,777.7 $1,196.5
Combined benefits
Survivor/retirement
(retirement at 65)
$1,134.17 $1,134.17 854,499 275,012 $706.0 $204.2
Survivor/disability $1,335.83 not applicable 14,110 1,971 $14.8 $2.3
Total - Combined benefits not applicable not applicable 868,609 276,983 $720.8 $206.5

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

October to December 2018 July 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 (at age 65) Footnote 5, Footnote 6 $600.85 not applicable not applicable 6,159,583 $3,472.6
Guaranteed Income Supplement (GIS)
Single $897.42 $18,216 $8,672 1,153,193 $665.0
Spouse/common-law partner of someone who:
does not receive an OAS pension $897.42 $43,680 $17,344 92,997 $50.2
receives an OAS pension $540.23 $24,048 $7,840 644,891 $221.8
is an Allowance recipient $540.23 $43,680 $7,840 48,729 $23.0
Total - GIS Footnote 2 not applicable not applicable not applicable 1,939,810 $959.9
Allowance $1,141.08 $33,696 $7,840 48,730 $24.0
Allowance for the Survivor $1,360.20 $24,552 $8,672 21,644 $16.0
Total - Allowance and Allowance for the Survivor Footnote 2 not applicable not applicable not applicable 70,374 $40.0

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 (December 2017) $340,333 million $52,059 million
Contributions (2017 to 2018) $48,452 million $14,700 million
Number of contributors (2016) 14.1 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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