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April - June 2004
Table of Contents
Canada Pension Plan and Quebec Pension Plan
Type of Benefit |
New benefits
Maximum Rate
(2004) |
Number of benefits
(December 2003) |
Amounts paid
(December 2003)
$Millions |
CPP |
QPP |
CPP |
QPP |
CPP |
QPP |
Retirement at age 65 |
$814.17 |
$814.17 |
2,977,439 |
1,051,337 |
$1,330.3 |
$389.2 |
Disability |
$992.80 |
$992.77 |
288,497 |
60,476 |
$223.7 |
$46.7 |
Survivors |
· under age 65 |
$454.42 |
see chart
below |
231,347 |
83,810 |
$75.5 |
$46.0 |
· over age 65 |
$488.50 |
$488.50 |
701,412 |
237,826 |
$186.7 |
$61.5 |
Total Survivor Benefits |
na |
na |
932,759 |
321,636 |
$262.2 |
$107.5 |
Children of disabled
contributor |
$192.68 |
$61.18 |
88,708 |
7,477 |
$20.3 |
$0.6 |
Children of deceased
contributor |
$192.68 |
$61.18 |
83,934 |
19,544 |
$17.4 |
$1.2 |
Death (maximum lump sum) |
$2,500.00 |
$2,500.00 |
8,547 |
2,320 |
$18.7 |
$5.4 |
Total CPP Benefits |
na |
na |
4,379,884 |
1,462,790 |
$1,872.6 |
$550.6 |
Combined Benefits |
Survivor/Retirement at age 65 |
$814.17 |
$814.17 |
532,678 |
na |
$332.1 |
na |
Survivor/Disability |
$992.80 |
na |
12,615 |
na |
$11.4 |
na |
Total Combined Benefits |
na |
na |
545,293 |
163,884 |
$343.5 |
$87.9 |
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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 benefit under age 65 |
$149.11 |
$305.31 |
$454.42 |
QPP disability benefit |
$382.14 |
$610.63 |
$992.77 |
QPP survivor benefit |
- under age 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 - 54 |
|
$382.14 |
$305.31 |
$687.45 |
- Age 55 - 64 |
|
$399.59 |
$305.31 |
$704.90 |
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Calculation of CPP Maximum
Monthly Rates For New Benefits
Retirement: |
25% of 1/12th of the average YMPE for the last five years. |
Disability: |
(Retirement x 0.75) + flat rate ($382.17) |
Survivors: |
· under age 65: (Retirement x 0.375) + flat rate ($149.11) |
|
· age 65 or over: (Retirement x 0.60) |
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Old Age Security
Type of Benefit |
April to June 2004 |
December 2003 |
Maximum
Rate |
Income Level
Cut-off |
Number of
Benefits |
Amount Paid
$Millions |
Old Age Security Pension |
$463.39 |
na |
4,037,452 |
$1,780.9 |
Guaranteed Income Supplement |
· Single |
$550.73 |
$13,224 |
917,421 |
$343.3 |
Spouse/Common-law partner of: |
|
· Non-Pensioner |
$550.73 |
$32,016 |
77,941 |
$28.9 |
· Pensioner |
$358.73 |
$17,232 |
425,642 |
$95.9 |
· Allowance Recipient |
$358.73 |
$32,016
(note) |
62,484 |
$18.1 |
Total Guaranteed
Income Supplement |
na |
na |
1,483,488 |
$486.2 |
The Allowance |
· Regular |
$822.12 |
$24,672 |
62,475 |
$19.4 |
· Survivor |
$907.64 |
$18,120 |
29,916 |
$15.3 |
Total Allowance |
na |
na |
92,391 |
$34.7 |
NOTE:The Allowance stops being paid at $24,672 while the GIS stops being paid at $32,016.
NOTE:OAS Pension Repayment level in 2004 from $59,790 to $96,843
Return to Allowance Recipients rates
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CPP/QPP Selected Figures
|
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 (October 2002) |
$64,578 M |
$19,134 M |
Contributions (2001 - 2002) |
$25,572 M |
$ 7,353 M |
Number of contributors 2000 |
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-258-04-04E
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