Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures - January to March 2020
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New benefits Maximum amount 2020 |
Number of benefits October 2019 |
Amounts paid October 2019 |
||||
---|---|---|---|---|---|---|
CPPFootnote 1 | QPPFootnote 1 | CPP | QPP | CPP (in millions) |
QPP (in millions) |
|
Retirement (at age 65) | $1,175.83 | $1,175.83 | 5,361,695 | 1,932,625 | $3,171.7 | $1,014.5 |
Post–Retirement Benefit (CPP) (at age 65)Footnote 2 | $29.40 | not applicable | 3,883,250 | not applicable | $53.6 | not applicable |
Retirement Pension Supplement (QPP) | not applicable | $22.46 | not applicable | 698,929 | not applicable | $21.0 |
Disability | $1,387.66 | $1,387.63 | 335,403 | 60,126 | $314.4 | $59.6 |
Survivor – younger than 65 | $638.28 | (Details QPP) | 216,273 | 60,536 | $93.2 | $43.5 |
Survivor – 65 and older | $705.50 | $705.91 | 928,183 | 314,346 | $294.2 | $101.2 |
Total - Survivor benefitsFootnote 3 | not applicable | not applicable | 1,144,456 | 374,882 | $387.4 | $144.7 |
Children of disabled contributor | $255.03 | $80.97 | 73,802 | 6,673 | $18.5 | $0.7 |
Children of deceased contributor | $255.03 | $255.03 | 53,551 | 12,210 | $13.4 | $3.2 |
Death (maximum one-time payment) | $2,500.00 | $2,500.00 | 12,036 | 5,320 | $29.7 | $13.0 |
Total - CPP/QPP benefitsFootnote 3 | not applicable | not applicable | 6,980,943 | 2,391,836 | $3,988.8 | $1,256.7 |
Combined benefits | ||||||
Survivor/retirement (retirement at 65) |
$1,175.83 | $1,175.83 | 882,024 | 283,415 | $745.5 | $215.4 |
Survivor/disability | $1,387.66 | not applicable | 13,847 | 1,837 | $14.8 | $2.2 |
Total - Combined benefitsFootnote 3 | not applicable | not applicable | 895,871 | 285,252 | $760.3 | $217.6 |
Flat amount | Earnings-related portion | Total | |
---|---|---|---|
CPP disability benefit | $505.79 | $881.87 | $1,387.66 |
CPP post-retirement disability benefitFootnote 4 | $505.79 | $0.00 | $505.79 |
CPP survivor benefit – younger than 65 | $197.34 | $440.94 | $638.28 |
QPP disability benefit | $505.76 | $881.87 | $1,387.63 |
QPP additional amount for disabilityFootnote 4 | $505.76 | $0.00 | $505.76 |
QPP survivor benefit – younger than 45 | |||
---|---|---|---|
Flat amount | Earnings-related portion | Total | |
Not disabled, no child | $129.54 | $441.20 | $570.74 |
Not disabled, with child | $469.61 | $441.20 | $910.81 |
Disabled | $505.76 | $441.20 | $946.96 |
QPP survivors - age 45 to 64 | $505.76 | $441.20 | $946.96 |
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 5 years
Disability:
(retirement x 0.75) + flat amount ($505.79)
Survivor:
- younger than 65: (retirement x 0.375) + flat amount ($197.34)
- 65 and older: retirement x 0.60
Post Retirement:
1/40 of the retirement benefit
January to March 2020 | October 2019 | ||||
---|---|---|---|---|---|
Maximum amount Footnote 5 | Income level cut-off Footnote 6 | Income level cut-off for top-ups Footnote 6 | Number of benefits | Amount paid (in millions) | |
Old Age Security pension (at age 65) Footnote 7, Footnote 8 | $613.53 | not applicable | not applicable | 6,424,855 | $3,724.3 |
Guaranteed Income Supplement (GIS) | |||||
Single | $916.38 | $18,600 | $8,816 | 1,235,638 | $741.0 |
Spouse/common-law partner of someone who: | |||||
does not receive an OAS pension | $916.38 | $44,592 | $17,632 | 105,965 | $58.5 |
receives an OAS pension | $551.63 | $24,576 | $7,936 | 685,273 | $245.6 |
is an Allowance recipient | $551.63 | $44,592 | $7,936 | 50,729 | $24.8 |
Total - GIS Footnote 3 | not applicable | not applicable | not applicable | 2,077,605 | $1,070.0 |
Allowance | $1,165.16 | $34,416 | $7,936 | 50,717 | $25.8 |
Allowance for the Survivor | $1,388.92 | $25,056 | $8,816 | 21,537 | $16.3 |
Total - Allowance and Allowance for the Survivor Footnote 3 | not applicable | not applicable | not applicable | 72,254 | $42.1 |
CPP | QPP | |||||
---|---|---|---|---|---|---|
Year's maximum pensionable earnings (YMPE) (2020) | $58,700.00 | $58,700.00 | ||||
Year's basic exemption (2020) | $3,500.00 | $3,500.00 | ||||
Contributions (2018 to 2019) | $51,184 million | $15,700 million | ||||
Number of contributors (2017) | 14.3 million | (estimated) 4.1 million | ||||
Indexation rate (January 2020) | 1.9% | 1.9% | ||||
Base | Enhancement | Total | Base | Enhancement | Total | |
Contribution rate for employee/employer | 4.95% | 0.30% | 5.25% | 5.4% | 0.3% | 5.7% |
Employee/employer maximum contribution | $2,732.40 | $165.60 | $2,898.00 | $2,980.80 | $165.60 | $3,146.40 |
Contribution rate for self-employed | 9.9% | 0.6% | 10.5% | 10.8% | 0.6% | 11.4% |
Self-employed maximum contribution | $5,464.80 | $331.20 | $5,796.00 | $5,961.60 | $331.20 | $6,292.80 |
OAS | CPP | QPP |
---|---|---|
$56.2 | $50.1 | $15.6 |
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