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January - March 2005
Table of Contents
Canada Pension Plan and Quebec Pension Plan
Type of benefit |
New benefits
Maximum rate
(2005) |
Number of benefits
(October 2004) |
Amounts paid
(October 2004)
$Millions |
CPP |
QPP |
CPP |
QPP |
CPP |
QPP |
Retirement (at 65) |
$828.75 |
$828.75 |
3,065,665 |
1,088,535 |
$1,401.2 |
$412.4 |
Disability |
$1,010.23 |
$1,010.20 |
291,482 |
62,728 |
$217.3 |
$49.8 |
Survivors |
· under 65 |
$462.42 |
see chart
below |
231,052 |
83,870 |
$77.5 |
$47.0 |
· 65 and over |
$497.25 |
$497.25 |
714,481 |
242,248 |
$195.1 |
$64.8 |
Total |
na |
na |
945,533 |
326,118 |
$272.6 |
$111.8 |
Children of disabled
contributor |
$195.96 |
$62.22 |
79,373 |
7,729 |
$15.3 |
$0.7 |
Children of deceased
contributor |
$195.96 |
$62.22 |
74,119 |
19,251 |
$14.3 |
$1.2 |
Death (maximum lump sum) |
$2,500.00 |
$2,500.00 |
8,545 |
2,993 |
$18.9 |
$7.1 |
Total |
na |
na |
4,464,717 |
1,507,354 |
$1,939.6 |
$583.3 |
Combined Benefits |
Survivor/Retirement at 65 |
$828.75 |
$828.75 |
559,438 |
na |
$378.0 |
na |
Survivor/Disability |
$1,010.23 |
na |
12,890 |
na |
$12.1 |
na |
Total |
na |
na |
572,328 |
170,191 |
$390.1 |
$94.2 |
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Disability and Survivor Rates
Benefit |
Flat Rate |
Earnings-Related
Portion |
Total |
CPP disability benefit |
$388.67 |
$621.56 |
$1,010.23 |
CPP survivor's pension under 65 |
$151.64 |
$310.78 |
$462.42 |
QPP disability benefit |
$388.64 |
$621.56 |
$1,010.20 |
QPP survivors |
- under 45 |
· Not disabled, no child |
|
$99.53 |
$310.78 |
$410.31 |
· Not disabled, with child |
|
$360.84 |
$310.78 |
$671.62 |
· Disabled |
|
$388.64 |
$310.78 |
$699.42 |
- Age 45 to 54 |
|
$388.64 |
$310.78 |
$699.42 |
- Age 55 to 64 |
|
$399.59 |
$310.78 |
$710.37 |
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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 ($388.67) |
Survivor: |
· under 65: (Retirement x 0.375) + flat rate ($151.64) |
|
· 65 or over: (Retirement x 0.60) |
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Old Age Security
Type of Benefit |
January to March 2005 |
October 2004 |
Maximum
rate |
Income level
cut-off |
Number of
benefits |
Amount paid
$Millions |
Old Age Security pension |
$471.76 |
na |
4,105,650 |
$1,848.0 |
Guaranteed Income Supplement |
· Single |
$560.69 |
$13,464 |
910,277 |
$354.0 |
Spouse/Common-law partner of |
|
· a non-pensioner |
$560.69 |
$32,592 |
81,948 |
$31.0 |
· a pensioner |
$365.21 |
$17,568 |
426,697 |
$101.1 |
· an Allowance recipient |
$365.21 |
$32,592
(note) |
63,114 |
$19.2 |
Total |
na |
na |
1,482,036 |
$505.3 |
The Allowance |
· Regular |
$836.97 |
$25,152 |
63,110 |
$20.4 |
· Survivor |
$924.04 |
$18,456 |
30,368 |
$15.9 |
Total |
na |
na |
93,478 |
$36.3 |
NOTE: The Allowance stops being paid at $25,152 while the GIS stops being paid at $32,592.
OAS pension repayment level in 2005 from $60,806 to $98,547
Return to Allowance Recipients rates
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CPP/QPP Selected Figures (2005)
|
CPP |
QPP |
Year's Maximum Pensionable Earnings (YMPE) |
$41,100.00 |
$41,100.00 |
Year's Basic Exemption |
$ 3,500.00 |
$ 3,500.00 |
Employee/employer maximum
contribution (4.95%) |
$ 1,861.20 |
$ 1,861.20 |
Self-employed maximum
contribution (9.9%) |
$ 3,722.40 |
$ 3,722.40 |
Account balance (August 2004) |
$75,953 M |
$21,211 M |
Contributions (2003 - 2004) |
$27,858 M |
$ 8,163 M |
Number of contributors 2002 |
11.3 M |
3.6 M |
Indexation rate (January 2005) |
1.7% |
1.7% |
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Main Estimates
2004 - 2005
Benefit |
Expenditures
Millions ($) |
OAS |
$22,130 |
GIS |
$6,001 |
Allowance |
$431 |
Total |
$28,562 |
CPP |
$23,612 |
QPP |
$7,611 |
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Produced by:
Social Development Canada
Income Security Programs
©Minister of Public Works and Government Services, 2002
Catalogue No.: ISPB-258-01-05E
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