Income Security Programs Information Card
October - December 2004
- Catalogue No.: ISPB-258-10-04E
- Printable version in PDF format (420kb, 2 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 (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 |
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 | 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
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% |
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-258-10-04E