Income Security Programs Information Card
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July - September 2008
Catalogue No.: ISPB-258-07-08E
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
- Selected Figures 2008
- Forecasted Expenditures 2007 - 2008
| Type of benefit | New benefits Maximum rate (2008) |
Number of benefits (March 2008) |
Amounts paid (March 2008) $Millions |
|||
|---|---|---|---|---|---|---|
| CPP | QPP | CPP | QPP | CPP | QPP | |
| Retirement (at age 65) | $884.58 | $884.58 | 3,488,627 | 1,260,604 | $1,708.0 | $506.4 |
| Disability | $1,077.52 | $1,077.49 | 308,347 | 69,036 | $246.0 | $56.9 |
| Survivors | ||||||
| · under 65 | $493.28 | see chart below |
237,073 | 81,507 | $84.7 | $47.2 |
| · 65 and over | $530.75 | $530.75 | 764,200 | 257,865 | $222.9 | $74.5 |
| Total | n.a. | n.a. | 1,001,273 | 339,372 | $307.6 | $121.7 |
| Children of disabled contributor |
$208.77 | $66.29 | 88,555 | 8,098 | $18.5 | $0.7 |
| Children of deceased contributor |
$208.77 | $66.29 | 79,182 | 18,100 | $16.5 | $1.2 |
| Death (maximum lump sum) | $2,500.00 | $2,500.00 | 11,253 | 3,235 | $25.1 | $7.5 |
| Total | n.a. | n.a. | 4,978,237 | 1,698,445 | $2,321.7 | $694.4 |
| Combined Benefits | ||||||
| Survivor/Retirement at age 65 | $884.58 | $884.58 | 637,171 | n.a. | $443.3 | n.a. |
| Survivor/Disability | $1,077.52 | n.a. | 13,136 | n.a. | $12.3 | n.a. |
| Total | n.a. | n.a. | 650,307 | 194,512 | $455.6 | $115.9 |
| Benefit | Flat Rate | Earnings-Related Portion |
Total | |
|---|---|---|---|---|
| CPP disability benefit | $414.08 | $663.44 | $1,077.52 | |
| CPP survivor's pension under 65 | $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 | July to September 2008 | March 2008 | |||
|---|---|---|---|---|---|
| Maximum rate |
Income level cut-off |
Number of benefits |
Amount paid $Millions |
||
| Old Age Security pension** | $505.83 | n.a. | 4,439,670 | $2,113.5 | |
| Guaranteed Income Supplement | |||||
| · Single | $634.46 | $15,336 | 972,167 | $422.9 | |
| Spouse/Common-law partner of | |||||
| · a non-pensioner | $638.46 | $36,768 | 86,074 | $36.7 | |
| · a pensioner | $421.62 | $20,256 | 493,329 | $133.1 | |
| · an Allowance recipient | $421.62 | $36,768 (note) |
64,593 | $22.8 | |
| Total | n.a. | n.a. | 1,616,163 | $615.5 | |
| The Allowance | |||||
| · Regular | $927.45 | $28,368 | 64,587 | $23.7 | |
| · Survivor | $1,028.06 | $20,664 | 31,882 | $18.4 | |
| Total | n.a. | n.a. | 96,469 | $42.1 | |
NOTE: The Allowance stops being paid at $28,368 while the GIS stops being paid at $36,768.
** The OAS pension repayment level in 2008 is from $64,718 to $105,043.
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 (January 2007) | $123,627 M | $34,145 M |
| Contributions (2007 - 2008) | $33,598 M | $ 9,394 M |
| Number of contributors 2005 | 11.9 M | 3.7 M |
| Indexation rate (January 2008) | 2.0% | 2.0% |
| Benefit | Expenditures Millions ($) |
|---|---|
| OAS | $26,288 |
| GIS | $7,717 |
| Allowance | $550 |
| Total | $34,555 |
| CPP | $29,106 |
| QPP | $9,319 |
Produced by:
Social Development Canada
Income Security Programs
©Minister of Public Works and Government Services, 2002
Catalogue No.: ISPB-258-07-08E