2021 Government Benefits & Limits – A Quick Reference

Old Age Security Benefit Payment Rates
January – March 2021
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.

 

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.