Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures - October to December 2018
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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 |
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 |
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
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 |
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 | CPP | QPP |
---|---|---|
$53.7 | $47.2 | $14.9 |
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