| Old Age Security Benefit Payment Rates January – March 2021 |
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| Type of Benefit | Recipient | Maximum Monthly Benefit | Maximum Annual Income |
| OAS | All recipients | $615.37 | See note |
| GIS | Single person | $919.12 | $18,648 |
| Spouse of pensioner | $553.28 | $24,624 | |
| Spouse of non-pensioner | $919.12 | $44,688 | |
| Spouse of Allowance recipient | $553.28 | $44,6881 | |
| Allowance | All recipients | $1,168.65 | $34,512 |
| Allowance for the survivor | All recipients | $1,393.08 | $25,152 |
| 1 For Spouse of Allowance recipient, the Allowance stops being paid at $34,512 while the GIS stops being paid at $44,688.
Note: Pensioners with an individual net income above $79,845 must repay all or part of the maximum Old Age Security pension amount. The repayment amounts are normally deducted from their monthly payments before they are issued. The full OAS pension is eliminated when a pensioner’s net income is $129,075 or above. |
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| 2021 Canada (Quebec) Pension Plan (CPP/QPP) Payment Rates | ||
| Maximum Monthly Benefit | CPP | QPP |
| Retirement pension (age 65) | $1,203.75 | $1,203.75 |
| Post-Retirement Benefit (Supplement)2 | $30.09 | $23.00 |
| Disability Benefit | $1,413.66 | $1,413.63 |
| Survivors benefit (under age 65) | $650.72 | $576.19 to $956.17 |
| Survivors benefit (age 65 & over) | $722.25 | $712.55 |
| Children of disabled contributors | $257.58 | $81.78 |
| Children of deceased contributors | $257.58 | $257.58 |
| Combined survivors & retirement (pension at age 65) | $1,203.75 | $1,203.75 |
| Combined survivors & disability | $1,413.66 | n/a |
| Death benefit (maximum one-time lump sum) | $2,500.00 | $2,500.00 |
| 2 If you are working while collecting CPP or QPP, you may be eligible or required to contribute to CPP/QPP. These additional contributions will provide additional benefits as shown here. | ||
| 2021 CPP/QPP Contribution Rates, Maximums and Exemptions | |
| Maximum Annual Pensionable Earnings (YMPE) | $61,600 |
| Basic Exemption (YBE) | $3,500 |
| Maximum Contributory Earnings | $58,100 |
| Employee Contribution Rate (%) | 5.45% (CPP); 5.90% (QPP) |
| Maximum Annual Employee Contribution | $3,166.45 (CPP); $3,427.90 (QPP) |
| Maximum Annual Self – Employed Contribution | $6,332.90 (CPP); $6,855.80 (QPP) |
| 2021 EI Premium Rates and Maximums | ||
| Maximum Annual Insurable Earnings | $56,300 | |
| Rate | Federal | 1.58% |
| Quebec | 1.18% | |
| Maximum Annual Employee Premium | Federal | $889.54 |
| Quebec | $664.34 | |
| Maximum Annual Employer Premium | Federal | $1,245.36 |
| Quebec | $930.08 | |
| Maximum Weekly Benefit | $596.00 | |
| Contribution Limits for Capital Accumulation Plans (CAP) | |||
| Year | DC limit | RRSP limit | DPSP limit |
| 2020 | $27,830 | $27,230 | $13,915 |
| 2021 | $29,210 | $27,830 | $14,605 |
| 2022 | ― | $29,210 | ― |
| Note: DC & DPSP limit above for PA purposes are also restricted to 18% of compensation. | |||
| Limits for Defined Benefit Plans(DB) | ||
| Year | Maximum Benefit per year of service |
Maximum Pension Adjustment (PA) |
| 2019 | $3,025.56 | $26,630 |
| 2020 | $3,092.22 | $27,230 |
| 2021 | $3,245.56 | $28,610 |
If you have any questions about these government benefits and limits, please contact June Smyth at 416-863-9159 ext 233.