Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures – October to December 2020

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

Maximum amount 2020
Number of benefits

June 2020
Amounts paid

June 2020
CPPFootnote 1 QPPFootnote 1 CPP QPP CPP
(in millions)
QPP
(in millions)
Retirement (at age 65) $1,175.83 $1,175.83 5,459,503 1,954,905 $3,295.4 $1,051.6
Post–Retirement Benefit (CPP) (at age 65)Footnote 2 $29.40 not applicable 4,463,055 not applicable $63.6 not applicable
Retirement Pension Supplement (QPP) not applicable $22.46 not applicable 751,641 not applicable $24.2
Disability $1,387.66 $1,387.63 335,920 58,921 $321.5 $58.3
Survivor – younger than 65 $638.28 (Details QPP) 213,574 58,942 $93.9 $43.1
Survivor – 65 and older $705.50 $705.91 938,082 315,361 $299.9 $102.8
Total - Survivor benefitsFootnote 3 not applicable not applicable 1,151,656 374,303 $393.9 $145.9
Children of disabled contributor $255.03 $80.97 85,336 6,647 $21.8 $0.7
Children of deceased contributor $255.03 $255.03 65,697 12,125 $16.7 $3.2
Death (maximum one-time payment) $2,500.00 $2,500.00 15,845 5,774 $39.3 $14.2
Total - CPP/QPP benefitsFootnote 3 not applicable not applicable 7,113,957 2,412,675 $4,152.2 $1,298.0
Combined benefits
Survivor/retirement
(retirement at 65)
$1,175.83 $1,175.83 896,139 285,894 $771.5 $221.4
Survivor/disability $1,387.66 not applicable 13,724 1,793 $15.0 $2.2
Total - Combined benefitsFootnote 3 not applicable not applicable 909,863 287,687 $786.5 $223.6
Disability and survivor amounts 2020
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
Details of QPP benefits
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

Old Age Security (OAS) - Type of benefit
October to December 2020 June 2020
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 $614.14 not applicable not applicable 6,569,014 $3,808.4
Guaranteed Income Supplement (GIS)
Single $917.29 $18,624 $8,864 1,279,771 $770.1
Spouse/common-law partner of someone who:
does not receive an OAS pension $917.29 $44,640 $17,728 115,088 $63.6
receives an OAS pension $552.18 $24,576 $7,936 702,640 $251.6
is an Allowance recipient $552.18 $44,640 $7,936 51,409 $24.5
Total - GIS Footnote 3 not applicable not applicable not applicable 2,148,908 $1,109.8
Allowance $1,166.32 $34,416 $7,936 51,396 $25.6
Allowance for the Survivor $1,390.30 $25,080 $8,864 21,749 $17.2
Total - Allowance and Allowance for the Survivor Footnote 3 not applicable not applicable not applicable 73,145 $42.8
Other CPP/QPP figures
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 (2018) 14.6 million (estimated) 4.2 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 and CPP/QPP forecasted expenditures, 2020 to 2021 (in billions)
OAS CPP QPP
$59.5 $51.5 $16.0

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