Income Security Programs Information Card
July - September 2004
- Catalogue No.: ISPB-258-07-04E
- Printable version in PDF format (434kb, 12 pages). To download and print PDF files, you will need the free Adobe Acrobat Reader.
Table of Contents
- Canada Pension Plan and Quebec Pension Plan
- Disability and Survivor Rates
- Calculation of CPP Maximum Monthly Rates For New Benefits
- Old Age Security
- CPP/QPP Select Figures 2004
- Main Estimates 2004 - 2005
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 |
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 |
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) |
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 ratesCPP | 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% |
Benefit | Expenditures Millions ($) |
---|---|
OAS | $22,198 |
GIS | $5,950 |
Allowance | $423 |
Total | $28,571 |
CPP | $23,670 |
QPP | $7,477 |
Produced by:
Social Development Canada
Income Security Programs
©Minister of Public Works and Government Services, 2002
Catalogue No.: ISPB-258-07-04E