Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures – October to December 2021
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New benefits Maximum amount 2021 |
Number of benefits June 2021 |
Amounts paid June 2021 |
||||
---|---|---|---|---|---|---|
CPPFootnote 1 | QPPFootnote 1 | CPP | QPP | CPP (in millions) |
QPP (in millions) |
|
Retirement (at age 65) | $1,203.75 | $1,203.75 | 5,614,041 | 1,989,215 | $3,419.5 | $1,079.7 |
Post–Retirement Benefit (CPP) (at age 65)Footnote 2 | $30.09 | not applicable | 4,931,671 | not applicable | $71.2 | not applicable |
Retirement Pension Supplement (QPP) | not applicable | $23.00 | not applicable | 800,579 | not applicable | $27.1 |
Disability | $1,413.66 | $1,413.63 | 333,991 | 55,909 | $323.3 | $56.1 |
Survivor: younger than 65 | $650.72 | (Details QPP) | 210,324 | 57,045 | $93.5 | $42.2 |
Survivor: 65 and older | $722.25 | $712.55 | 956,182 | 321,397 | $304.2 | $104.5 |
Total survivor benefitsFootnote 3 | not applicable | not applicable | 1,166,506 | 378,442 | $397.7 | $146.7 |
Children of disabled contributor | $257.58 | $81.78 | 83,103 | 6,301 | $21.4 | $0.7 |
Children of deceased contributor | $257.58 | $257.58 | 63,855 | 12,228 | $16.4 | $3.2 |
Death (maximum one-time payment) | $2,500.00 | $2,500.00 | 13,770 | 4,896 | $34.3 | $12.0 |
Total CPP and QPP benefitsFootnote 3 | not applicable | not applicable | 7,275,266 | 2,446,991 | $4,283.8 | $1,325.5 |
Combined benefits | ||||||
Survivor and retirement (retirement at 65) |
$1,203.75 | $1,203.75 | 920,052 | 293,958 | $799.0 | $230.0 |
Survivor and disability | $1,413.66 | not applicable | 13,607 | 1,743 | $14.9 | $2.1 |
Total: combined benefitsFootnote 3 | not applicable | not applicable | 933,659 | 295,701 | $813.9 | $232.1 |
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
October to December 2021 | June 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 | $635.26 | not applicable | not applicable | 6,762,207 | $3,944.5 |
Guaranteed Income Supplement (GIS) | |||||
Single | $948.82 | $19,248 | $9,056 | 1,316,793 | $795.2 |
Spouse or common-law partner of someone who: | |||||
does not receive an OAS pension | $948.82 | $46,128 | $18,112 | 126,218 | $67.8 |
receives an OAS pension | $571.15 | $25,440 | $8,032 | 734,544 | $263.6 |
is an Allowance recipient | $571.15 | $46,128 | $8,032 | 58,015 | $27.5 |
Total GIS Footnote 3 | not applicable | not applicable | not applicable | 2,235,570 | $1,154.1 |
Allowance | $1,206.41 | $35,616 | $8,032 | 57,997 | $28.1 |
Allowance for the Survivor | $1,438.11 | $25,920 | $9,056 | 22,449 | $17.5 |
Total Allowance and Allowance for the Survivor Footnote 3 | not applicable | not applicable | not applicable | 80,446 | $45.6 |
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 (2019) | 14.9 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 |
---|---|---|
$62.4 | $53.7 | $16.6 |
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