Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures – April to June 2021
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New benefits Maximum amount 2021 |
Number of benefits January 2021 |
Amounts paid January 2021 |
||||
---|---|---|---|---|---|---|
CPPFootnote 1 | QPPFootnote 1 | CPP | QPP | CPP (in millions) |
QPP (in millions) |
|
Retirement (at age 65) | $1,203.75 | $1,203.75 | 5,553,772 | 1,974,320 | $3,383.6 | $1,070.6 |
Post–Retirement Benefit (CPP) (at age 65)Footnote 2 | $30.09 | not applicable | 4,512,311 | not applicable | $64.7 | not applicable |
Retirement Pension Supplement (QPP) | not applicable | $23.00 | not applicable | 752,534 | not applicable | $24.5 |
Disability | $1,413.66 | $1,413.63 | 336,441 | 57,139 | $325.4 | $57.1 |
Survivor: younger than 65 | $650.72 | (Details QPP) | 211,506 | 57,880 | $94.0 | $42.7 |
Survivor: 65 and older | $722.25 | $712.55 | 948,367 | 319,291 | $303.5 | $104.1 |
Total survivor benefitsFootnote 3 | not applicable | not applicable | 1,159,873 | 377,171 | $397.5 | $146.8 |
Children of disabled contributor | $257.58 | $81.78 | 75,350 | 6,447 | $19.4 | $0.6 |
Children of deceased contributor | $257.58 | $257.58 | 57,119 | 12,186 | $14.7 | $3.2 |
Death (maximum one-time payment) | $2,500.00 | $2,500.00 | 12,830 | 5,747 | $31.9 | $14.2 |
Total CPP and QPP benefitsFootnote 3 | not applicable | not applicable | 7,195,385 | 2,433,010 | $4,237.3 | $1,317.1 |
Combined benefits | ||||||
Survivor and retirement (retirement at 65) |
$1,203.75 | $1,203.75 | 911,938 | 290,654 | $791.7 | $227.3 |
Survivor and disability | $1,413.66 | not applicable | 13,741 | 1,783 | $15.1 | $2.2 |
Total: combined benefitsFootnote 3 | not applicable | not applicable | 925,679 | 292,437 | $806.8 | $229.5 |
Flat amount | Earnings-related portion | Total | |
---|---|---|---|
CPP disability benefit | $510.85 | $902.81 | $1,413.66 |
CPP post-retirement disability benefitFootnote 4 | $510.85 | $0.00 | $510.85 |
CPP survivor benefit: younger than 65 | $199.31 | $451.41 | $650.72 |
QPP disability benefit | $510.82 | $902.81 | $1,413.63 |
QPP additional amount for disabilityFootnote 4 | $510.82 | $0.00 | $510.82 |
QPP survivor benefit: younger than 45 | |||
---|---|---|---|
Flat amount | Earnings-related portion | Total | |
Not disabled, no child | $130.84 | $445.35 | $576.19 |
Not disabled, with child | $474.31 | $445.35 | $919.66 |
Disabled | $510.82 | $445.35 | $956.17 |
QPP survivors: age 45 to 64 | $510.82 | $445.35 | $956.17 |
Calculation of CPP maximum monthly amounts for new benefits
Retirement:
25% of 1 over 12 of the average year's maximum pensionable earnings (YMPE) for the last 5 years.
Disability:
(retirement x 0.75) + flat amount ($510.85).
Survivor:
- younger than 65: (retirement x 0.375) + flat amount ($199.31)
- 65 and older: retirement x 0.60
Post Retirement:
1 over 40 of the retirement benefit.
Legend: $M = millions of dollars
April to June 2021 | January 2021 | ||||
---|---|---|---|---|---|
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 | $618.45 | not applicable | not applicable | 6,692,117 | $3,885.0 |
Guaranteed Income Supplement (GIS) | |||||
Single | $923.71 | $18,744 | $8,912 | 1,292,072 | $776.9 |
Spouse or common-law partner of someone who: | |||||
does not receive an OAS pension | $923.71 | $44,928 | $17,824 | 122,289 | $67.1 |
receives an OAS pension | $556.04 | $24,768 | $7,936 | 726,412 | $261.1 |
is an Allowance recipient | $556.04 | $44,928 | $7,936 | 59,308 | $28.6 |
Total GIS Footnote 3 | not applicable | not applicable | not applicable | 2,200,081 | $1,133.7 |
Allowance | $1,174.49 | $34,704 | $7,936 | 59,297 | $30.1 |
Allowance for the Survivor | $1,400.05 | $25,272 | $8,912 | 21,577 | $16.7 |
Total Allowance and Allowance for the Survivor Footnote 3 | not applicable | not applicable | not applicable | 80,874 | $46.8 |
CPP | QPP | |||||
---|---|---|---|---|---|---|
Year's maximum pensionable earnings (YMPE) (2021) | $61,600.00 | $61,600.00 | ||||
Year's basic exemption (2021) | $3,500.00 | $3,500.00 | ||||
Contributions (2019 to 2020) | $56,142 million | $16,300 million | ||||
Number of contributors (2018) | 14.6 million | (estimated) 4.2 million | ||||
Indexation rate (January 2021) | 1% | 1% | ||||
Base | Enhancement | Total | Base | Enhancement | Total | |
Contribution rate for employee and employer | 4.95% | 0.5% | 5.45% | 5.4% | 0.5% | 5.9% |
Employee and employer maximum contribution | $2,875.95 | $290.50 | $3,166.45 | $3,137.40 | $290.50 | $3,427.90 |
Contribution rate for self-employed | 9.9% | 1% | 10.9% | 10.8% | 1% | 11.8% |
Self-employed maximum contribution | $5,751.90 | $581.00 | $6,332.90 | $6,274.80 | $581.00 | $6,855.80 |
Legend: $M = millions of dollars
OAS | CPP | QPP |
---|---|---|
$59.5 | $51.5 | $16.0 |
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