Quarterly report of Canada Pension Plan and Old Age Security monthly amounts and related figures - January to March 2014

Canada Pension Plan (CPP) and Quebec Pension Plan (QPP) - Type of benefit
New benefits maximum amount 2014 Number of benefits October 2013 Amounts paid October 2013
CPP QPP CPP QPP CPP (in millions) QPP (in millions)
Retirement (at age 65) $1,038.33 $1,038.33 4,413,318 1,570,425 $2,357.1 $753.1
Post–Retirement Benefit (CPP) (at age 65)Footnote 1 $25.96 464,239 $5.1
Retirement Pension Supplement (QPP) Footnote 2 $19.83 334,440 $6.2
Disability $1,236.35 $1,236.32 329,624 69,086 $281.7 $64.9
Survivor – younger than 65 $567.91 (see Note 1) 231,701 72,667 $88.0 $47.8
Survivor – 65 and older $623.00 $623.00 837,811 287,097 $258.4 $89.0
Total - Survivor benefits 1,069,512 359,764 $346.5 $136.8
Children of disabled contributor $230.72 $73.25 75,764 7,319 $17.3 $0.7
Children of deceased contributor $230.72 $230.72 60,426 13,993 $13.8 $3.3
Death (maximum one-time payment) $2,500.00 $2,500.00 11,123 3,689 $25.2 $9.1
Total - CPP/QPP benefits 6,424,006 2,024,276 $3,046.8 $967.9
Combined benefits
Survivor/retirement
(retirement at 65)
$1,038.33 $1,038.33 764,236 239,736 $583.1 $164.4
Survivor/disability $1,236.35 Not applicable 14,434 2,448 $14.2 $2.7
Total - Combined benefits 778,670 242,184 $597.3 $167.1
Disability and survivor amounts
Flat amount Earnings-related portion Total
CPP disability benefit $457.60 $778.75 $1,236.35
CPP survivor benefit – younger than 65 $178.54 $389.37 $567.91
QPP disability benefit $457.57 $778.75 $1,236.32

Note 1: Details of QPP benefits

QPP survivor benefit – younger than 45
Flat amount Earnings-related portion Total
Not disabled, no child $117.19 $389.37 $506.56
Not disabled, with child $424.86 $389.37 $814.23
Disabled $457.57 $389.37 $846.94
QPP survivors - age 45 to 64 $457.57 $389.37 $846.94

Calculation of CPP maximum monthly amounts for new benefits

Retirement:
25% of 1/12 of the average year's maximum pensionable earnings (YMPE) for the last five years

Disability:
(retirement x 0.75) + flat amount ($457.60)

Survivor:

  • younger than 65: (retirement x 0.375) + flat amount ($178.54)
  • 65 and older: retirement x 0.60

Post Retirement: 1/40 of the retirement benefit

Old Age Security (OAS) - Type of benefit
January to March 2014 October 2013
Maximum amount Footnote 3 Income level cut-off Footnote 4 Income level cut-off for top-ups Footnote 4 Number of benefits Amount paid (in millions)
Old Age Security pension Footnote 5 $551.54 Not applicable 5,317,986 $2,765.9
Guaranteed Income Supplement (GIS)
Single $747.86 $16,728 $4,496 1,039,823 $520.5
Spouse/common-law partner of someone who:
does not receive an OAS pension $747.86 $40,080 $8,992 82,030 $40.4
receives an OAS pension $495.89 $22,080 $7,552 556,384 $179.0
is an Allowance recipient $495.89 $40,080 $7,552 57,731 $24.1
Total - GIS Footnote 6 1,735,968 $764.1
Allowance $1,047.43 $30,912 $7,552 57,726 $25.0
Allowance for the Survivor $1,172.65 $22,512 $4,496 24,026 $15.4
Total - Allowance and Allowance for the Survivor Footnote 6 81,752 $40.5
OAS forecasted expenditures, 2013–14 (in millions)
OAS GIS Allowance Total
$32,352 $9,735 $547 $42,634
Other CPP/QPP figures
CPP QPP
Year's maximum pensionable earnings (YMPE) (2014) $52,500.00 $52,500.00
Year's basic exemption (2014) $3,500.00 $3,500.00
Employee/employer maximum contribution (4.95%) $2,425.50 (5.175%) $2,535.75
Self-employed maximum contribution (9.9%) $4,851.00 (10.35%) $5,071.50
Account balance (March 2013) $187,148 million $36,585 million
Contributions (2012-13) $41,655 million $11,947 million
Number of contributors (2011) 13.0 million 4.0 million
Indexation rate (January 2014) 0.9% 0.9%
CPP/QPP forecasted expenditures, 2013–14 (in millions)
CPP QPP
$37,676 $12,100

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