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October - December 2004
Table of Contents
Canada Pension Plan and Quebec Pension Plan
Type of benefit |
New benefits
Maximum rate
(2004) |
Number of benefits
(July 2004) |
Amounts paid
(July 2004)
$Millions |
CPP |
QPP |
CPP |
QPP |
CPP |
QPP |
Retirement (at 65) |
$814.17 |
$814.17 |
3,038,082 |
1,077,002 |
$1,389.3 |
$408.9 |
Disability |
$992.80 |
$992.77 |
291,176 |
61,968 |
$217.2 |
$48.7 |
Survivors |
· under 65 |
$454.42 |
see chart
below |
230,933 |
83,941 |
$77.5 |
$47.2 |
· 65 and over |
$488.50 |
$488.50 |
710,965 |
240,436 |
$194.3 |
$64.3 |
Total |
na |
na |
941,898 |
324,377 |
$271.8 |
$111.5 |
Children of disabled
contributor |
$192.68 |
$61.18 |
93,792 |
7,657 |
$18.1 |
$0.6 |
Children of deceased
contributor |
$192.68 |
$61.18 |
89,367 |
19,345 |
$17.2 |
$1.2 |
Death (maximum lump sum) |
$2,500.00 |
$2,500.00 |
8,453 |
2,859 |
$18.7 |
$6.6 |
Total |
na |
na |
4,462,768 |
1,493,208 |
$1,932.4 |
$577.5 |
Combined Benefits |
Survivor/Retirement at 65 |
$814.17 |
$814.17 |
554,420 |
na |
$353.8 |
na |
Survivor/Disability |
$992.80 |
na |
12,907 |
na |
$11.5 |
na |
Total |
na |
na |
567,327 |
168,109 |
$365.3 |
$93.1 |
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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 |
October to December 2004 |
July 2004 |
Maximum
rate |
Income level
cut-off |
Number of
benefits |
Amount paid
$Millions |
Old Age Security pension |
$471.76 |
na |
4,080,719 |
$1,816.7 |
Guaranteed Income Supplement |
· Single |
$560.69 |
$13,464 |
871,847 |
$330.7 |
Spouse/Common-law partner of |
|
· a non-pensioner |
$560.69 |
$32,592 |
72,361 |
$26.5 |
· a pensioner |
$365.21 |
$17,568 |
404,104 |
$93.2 |
· an Allowance recipient |
$365.21 |
$32,592
(note) |
58,070 |
$17.2 |
Total |
na |
na |
1,406,382 |
$467.6 |
The Allowance |
· Regular |
$836.97 |
$25,152 |
58,069 |
$18.3 |
· Survivor |
$924.04 |
$18,456 |
27,555 |
$14.0 |
Total |
na |
na |
85,624 |
$32.3 |
NOTE: The Allowance stops being paid at $25,152 while the GIS stops being paid at $32,592.
OAS pension repayment level in 2004 from $59,790 to $97,075
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 (April 2004) |
$72,829 M |
$20,187 M |
Contributions (2003 - 2004) |
$27,858 M |
$ 8,163 M |
Number of contributors 2002 |
11.3 M |
3.6 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-258-10-04E
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