Income Security Programs Information Card
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January - March 2008
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Catalogue No.: ISPB-258-01-08E
Table of Contents
- Canada Pension Plan and Quebec Pension Plan
- Disability and Survivor Rates
- Calculation of CPP
- Old Age Security
- Selected Figures 2008
- Forecasted Expenditures 2007 - 2008
| Type of benefit | New benefits Maximum rate (2008) |
Number of benefits (October 2007) |
Amounts paid (October 2007) $Millions |
|||
|---|---|---|---|---|---|---|
| CPP | QPP | CPP | QPP | CPP | QPP | |
| Retirement (at age 65) | $884.58 | $884.58 | 3,433,490 | 1,239,852 | $1,650.8 | $488.3 |
| Disability | $1,077.52 | $1,077.49 | 307,152 | 68,221 | $239.7 | $55.6 |
| Survivors | ||||||
| · under 65 | $493.28 | see chart below |
236,058 | 81,444 | $82.9 | $46.8 |
| · 65 and over | $530.75 | $530.75 | 758,680 | 255,663 | $217.4 | $72.8 |
| Total | n.a. | n.a. | 994,738 | 337,107 | $300.3 | $119.6 |
| Children of disabled contributor |
$208.77 | $66.29 | 79,298 | 8,025 | $16.2 | $0.6 |
| Children of deceased contributor |
$208.77 | $66.29 | 69,316 | 18,137 | $14.2 | $1.2 |
| Death (maximum lump sum) | $2,500.00 | $2,500.00 | 8,407 | 4,282 | $18.7 | $10.0 |
| Total | n.a. | n.a. | 4,892,401 | 1,675,624 | $2,240.1 | $675.3 |
| Combined Benefits | ||||||
| Survivor/Retirement at age 65 | $884.58 | $884.58 | 626,241 | n.a. | $427.3 | n.a. |
| Survivor/Disability | $1,077.52 | n.a. | 13,078 | n.a. | $12.1 | n.a. |
| Total | n.a. | n.a. | 639,319 | 191,125 | $439.4 | $111.8 |
| Benefit | Flat Rate | Earnings-Related Portion |
Total | |
|---|---|---|---|---|
| CPP | $414.08 | $663.44 | $1,077.52 | |
| CPP | $161.56 | $331.72 | $493.28 | |
| QPP disability benefit | $414.05 | $663.44 | $1,077.49 | |
| QPP survivors | ||||
| - under 45 | ||||
| · Not disabled, no child | $106.04 | $331.72 | $437.76 | |
| · Not disabled, with child | $384.43 | $331.72 | $716.15 | |
| · Disabled | $414.05 | $331.72 | $745.77 | |
| - Age 45 to 64 | $414.05 | $331.72 | $745.77 | |
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 ($414.08)
Survivor:
- under 65: (Retirement x 0.375) + flat rate ($161.56)
- 65 or over: (Retirement x 0.60)
| Type of Benefit | January to March 2008 | October 2007 | |||
|---|---|---|---|---|---|
| Maximum rate |
Income level cut-off |
Number of benefits |
Amount paid $Millions |
||
| Old Age Security pension | $502.31 | n.a. | 4,397,011 | $2,094.6 | |
| Guaranteed Income Supplement | |||||
| · Single | $634.02 | $15,240 | 962,010 | $420.8 | |
| Spouse/Common-law partner of | |||||
| · a non-pensioner | $634.02 | $36,528 | 80,669 | $34.5 | |
| · a pensioner | $418.69 | $20,112 | 487,117 | $131.9 | |
| · an Allowance recipient | $418.69 | $36,528 (note) |
63,596 | $22.6 | |
| Total | n.a. | n.a. | 1,593,392 | $609.8 | |
| The Allowance | |||||
| · Regular | $921.00 | $28,176 | 63,592 | $23.6 | |
| · Survivor | $1,020.91 | $20,520 | 28,952 | $16.6 | |
| Total | n.a. | n.a. | 92,544 | $40.2 | |
NOTE: The Allowance stops being paid at $28,176 while the GIS stops being paid at $36,528.
OAS pension repayment level in 2008 from $64,718 to $104,903.
Return to Allowance Recipients rates
| CPP | QPP | |
|---|---|---|
| Year's Maximum Pensionable Earnings (YMPE) | $44,900.00 | $44,900.00 |
| Year's Basic Exemption | $ 3,500.00 | $ 3,500.00 |
| Employee/employer maximum contribution (4.95%) |
$ 2,049.30 | $ 2,049.30 |
| Self-employed maximum contribution (9.9%) |
$ 4,098.60 | $ 4,098.60 |
| Account balance (June 2007) | $122,477 M | $34,829 M |
| Contributions (2006 - 2007) | $31,480 M | $ 8,944 M |
| Number of contributors 2005 | 11.9 M | 3.7 M |
| Indexation rate (January 2008) | 2.0% | 2.0% |
| Benefit | Expenditures Millions ($) |
|---|---|
| OAS | $25,023 |
| GIS | $7,371 |
| Allowance | $546 |
| Total | $32,940 |
| CPP | $27,479 |
| QPP | $8,797 |
Produced by:
Social Development Canada
Income Security Programs
©Minister of Public Works and Government Services, 2002
Catalogue No.: ISPB-258-01-08E