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July - September 2004
Table of Contents
Canada Pension Plan and Quebec Pension Plan
Type of benefit |
New benefits
Maximum rate
(2004) |
Number of benefits
(March 2004) |
Amounts paid
(March 2004)
$Millions |
CPP |
QPP |
CPP |
QPP |
CPP |
QPP |
Retirement (at 65) |
$814.17 |
$814.17 |
3,001,032 |
1,060,534 |
$1,373.5 |
$404.4 |
Disability |
$992.80 |
$992.77 |
289,880 |
61,313 |
$216.6 |
$48.4 |
Survivors |
· under 65 |
$454.42 |
see chart
below |
230,892 |
83,549 |
$77.6 |
$47.4 |
· 65 and over |
$488.50 |
$488.50 |
705,802 |
239,455 |
$193.0 |
$64.3 |
Total |
na |
na |
936,694 |
323,004 |
$270.6 |
$111.7 |
Children of disabled
contributor |
$192.68 |
$61.18 |
90,942 |
7,608 |
$17.5 |
$0.6 |
Children of deceased
contributor |
$192.68 |
$61.18 |
86,469 |
19,560 |
$16.7 |
$1.2 |
Death (maximum lump sum) |
$2,500.00 |
$2,500.00 |
11,246 |
3,871 |
$24.9 |
$9.0 |
Total |
na |
na |
4,416,263 |
1,475,890 |
$1,919.8 |
$575.3 |
Combined Benefits |
Survivor/Retirement at 65 |
$814.17 |
$814.17 |
546,992 |
na |
$349.0 |
na |
Survivor/Disability |
$992.80 |
na |
12,897 |
na |
$11.5 |
na |
Total |
na |
na |
559,889 |
165,766 |
$360.5 |
$91.9 |
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Disability and Survivor Rates
Benefit |
Flat Rate |
Earnings Related
Portion |
Total |
CPP disability benefit |
$382.17 |
$610.63 |
$992.80 |
CPP survivor's pension under 65 |
$149.11 |
$305.31 |
$454.42 |
QPP disability benefit |
$382.14 |
$610.63 |
$992.77 |
QPP survivors |
- under 45 |
· Not disabled, no child |
|
$97.87 |
$305.31 |
$403.18 |
· Not disabled, with child |
|
$354.81 |
$305.31 |
$660.12 |
· Disabled |
|
$382.14 |
$305.31 |
$687.45 |
- Age 45 to 54 |
|
$382.14 |
$305.31 |
$687.45 |
- Age 55 to 64 |
|
$399.59 |
$305.31 |
$704.90 |
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Calculation of CPP Maximum
Monthly Rates For New Benefits
Retirement: |
25% of 1/12 of the average YMPE for the last five years. |
Disability: |
(Retirement x 0.75) + flat rate ($382.17) |
Survivor: |
· under 65: (Retirement x 0.375) + flat rate ($149.11) |
|
· 65 or over: (Retirement x 0.60) |
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Old Age Security
Type of Benefit |
July to September 2004 |
March 2004 |
Maximum
rate |
Income level
cut-off |
Number of
benefits |
Amount paid
$Millions |
Old Age Security pension |
$466.63 |
na |
4,050,365 |
$1,789.4 |
Guaranteed Income Supplement |
· Single |
$554.59 |
$13,320 |
922,708 |
$347.5 |
Spouse/Common-law partner of |
|
· a non-pensioner |
$554.59 |
$32,256 |
81,818 |
$30.9 |
· a pensioner |
$361.24 |
$17,376 |
430,638 |
$96.1 |
· an Allowance recipient |
$361.24 |
$32,256
(note) |
63,187 |
$18.5 |
Total |
na |
na |
1,498,351 |
$493.0 |
The Allowance |
· Regular |
$827.87 |
$24,864 |
63,181 |
$19.7 |
· Survivor |
$913.99 |
$18,240 |
30,330 |
$15.8 |
Total |
na |
na |
93,511 |
$35.5 |
NOTE: The Allowance stops being paid at $24,864 while the GIS stops being paid at $32,256.
OAS pension repayment level in 2004 from $59,790 to $96,972
Return to Allowance Recipients rates
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CPP/QPP Selected Figures (2004)
|
CPP |
QPP |
Year's Maximum Pensionable Earnings (YMPE) |
$40,500.00 |
$40,500.00 |
Year's Basic Exemption |
$ 3,500.00 |
$ 3,500.00 |
Employee/employer maximum
contribution (4.95%) |
$ 1,831.50 |
$ 1,831.50 |
Self-employed maximum
contribution (9.9%) |
$ 3,663.00 |
$ 3,663.00 |
Account balance (March 2004) |
$67,027 M |
$20,261 M |
Contributions (2002 - 2003) |
$25,572 M |
$ 7,353 M |
Number of contributors 2001 |
11.2 M |
3.5 M |
Indexation rate (January 2004) |
3.2% |
3.2% |
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Main Estimates
2004 - 2005
Benefit |
Expenditures
Millions ($) |
OAS |
$22,198 |
GIS |
$5,950 |
Allowance |
$423 |
Total |
$28,571 |
CPP |
$23,670 |
QPP |
$7,477 |
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Produced by:
Social Development Canada
Income Security Programs
©Minister of Public Works and Government Services, 2002
Catalogue No.: ISPB-258-07-04E
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