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January - March 2006
Table of Contents
Canada Pension Plan and Quebec Pension Plan
Type of benefit |
New benefits
Maximum rate
(2006) |
Number of benefits
(October 2005) |
Amounts paid
(October 2005)
$Millions |
CPP |
QPP |
CPP |
QPP |
CPP |
QPP |
Retirement (at age 65) |
$844.58 |
$844.58 |
3,173,063 |
1,133,547 |
$1,470.1 |
$433.1 |
Disability |
$1,031.05 |
$1,031.02 |
296,518 |
65,044 |
$223.7 |
$51.3 |
Survivors |
· under 65 |
$471.85 |
see chart
below |
233,478 |
83,141 |
$79.4 |
$46.8 |
· 65 and over |
$506.75 |
$506.75 |
729,848 |
247,119 |
$202.1 |
$67.4 |
Total |
n.a. |
n.a. |
963,326 |
330,260 |
$281.5 |
$114.2 |
Children of disabled
contributor |
$200.47 |
$63.65 |
79,903 |
7,925 |
$15.7 |
$0.6 |
Children of deceased
contributor |
$200.47 |
$63.65 |
72,597 |
18,990 |
$14.2 |
$1.2 |
Death (maximum lump sum) |
$2,500.00 |
$2,500.00 |
9,461 |
2,745 |
$20.9 |
$6.8 |
Total |
n.a. |
n.a. |
4,594,868 |
1,558,511 |
$2,026.1 |
$607.2 |
Combined Benefits |
Survivor/Retirement at age 65 |
$844.58 |
$844.58 |
581,646 |
n.a. |
$375.4 |
n.a. |
Survivor/Disability |
$1,031.05 |
n.a. |
12,938 |
n.a. |
$11.5 |
n.a. |
Total |
n.a. |
n.a. |
594,584 |
177,075 |
$386.9 |
$99.3 |
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Disability and Survivor Rates
Benefit |
Flat Rate |
Earnings-Related
Portion |
Total |
CPP disability benefit |
$397.61 |
$633.44 |
$1,031.05 |
CPP survivor's pension under 65 |
$155.13 |
$316.72 |
$471.85 |
QPP disability benefit |
$397.58 |
$633.44 |
$1,031.02 |
QPP survivors |
- under 45 |
· Not disabled, no child |
|
$101.82 |
$316.72 |
$418.54 |
· Not disabled, with child |
|
$369.14 |
$316.72 |
$685.86 |
· Disabled |
|
$397.58 |
$316.72 |
$714.30 |
- Age 45 to 54 |
|
$397.58 |
$316.72 |
$714.30 |
- Age 55 to 64 |
|
$399.59 |
$316.72 |
$716.31 |
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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 ($397.61) |
Survivor: |
· under 65: (Retirement x 0.375) + flat rate ($155.13) |
|
· 65 or over: (Retirement x 0.60) |
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Old Age Security
Type of Benefit |
January to March 2006 |
October 2005 |
Maximum
rate |
Income level
cut-off |
Number of
benefits |
Amount paid
$Millions |
Old Age Security pension |
$484.63 |
n.a. |
4,193,190 |
$1,914.9 |
Guaranteed Income Supplement |
· Single |
$593.97 |
$14,256 |
933,028 |
$363.2 |
Spouse/Common-law partner of |
|
· a non-pensioner |
$593.97 |
$34,368 |
80,524 |
$31.2 |
· a pensioner |
$389.67 |
$18,720 |
447,670 |
$107.1 |
· an Allowance recipient |
$389.67 |
$34,368
(note) |
62,388 |
$19.7 |
Total |
n.a. |
n.a. |
1,523,610 |
$521.2 |
The Allowance |
· Regular |
$874.30 |
$26,496 |
62,382 |
$20.8 |
· Survivor |
$967.24 |
$19,368 |
29,823 |
$15.7 |
Total |
n.a. |
n.a. |
92,205 |
$36.5 |
NOTE: The Allowance stops being paid at $26,496 while the GIS stops being paid at $34,368.
OAS pension repayment level in 2006 from $62,144 to $100,914.
Return to Allowance Recipients rates
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CPP/QPP Selected Figures (2006)
|
CPP |
QPP |
Year's Maximum Pensionable Earnings (YMPE) |
$42,100.00 |
$42,100.00 |
Year's Basic Exemption |
$ 3,500.00 |
$ 3,500.00 |
Employee/employer maximum
contribution (4.95%) |
$ 1,910.70 |
$ 1,910.70 |
Self-employed maximum
contribution (9.9%) |
$ 3,821.40 |
$ 3,821.40 |
Account balance (September 2005) |
$89,263 M |
$26,070 M |
Contributions (2004 - 2005) |
$33,136 M |
$ 8,461 M |
Number of contributors 2003 |
11.4 M |
3.6 M |
Indexation rate (January 2006) |
2.3% |
2.3% |
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Forecast Expenditures
2005 - 2006
Benefit |
Expenditures
Millions ($) |
OAS |
$23,044 |
GIS |
$6,221 |
Allowance |
$451 |
Total |
$29,716 |
CPP |
$24,868 |
QPP |
$7,968 |
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Produced by:
Social Development Canada
Income Security Programs
©Minister of Public Works and Government Services, 2002
Catalogue No.: ISPB-258-01-06E
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