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Useful Numbers 2019 – by Ivana Saula

PENSIONS
OLD AGE SECURITY BENEFIT (Monthly, at age 65, January 2019)
$ 601.45 (regardless of marital status)
Adjusted quarterly to CPI (in January, April, July and October)
OAS/GIS can be deferred up to 5 years (to age 70), with an increase of 0.60% for each month of deferral
Following increases to CPI, OAS benefit will increase by 0.1% for the January to March 2019 quarter
CANADA/QUEBEC PENSION PLAN (2019)
Maximum Monthly Retirement Benefit at age 65: $1,154.58
(Reduction of 0.60% per month for retirement at 60-64 YO/increase of 0.70% per month for retirement at 65-70 YO)
Maximum Monthly Disability Benefit: CPP: $1,362.30 QPP: 1,362.27
Maximum Monthly Survivor Benefit:
CPP QPP
Under 65: $626.63 $931.43 (Varies with age, disability and dependents)
65 & Over: $692.75 $696.15
CPP Children’s benefits:
Pension for a disabled person’s child: CPP: $250.27 QPP: $79.46
Surviving child’s benefit for the child of a deceased contributor (Orphan’s pension): CPP: $250.27 QPP: $250.27
PREMIUMS: Contribution Rate (Employer/Employee):
CPP (5.1%/45.15) QPP (5.40 %/5.40 %)

Yearly Maximum Pensionable Earnings (YMPE): $57,400 QPP: $ 57,400
Yearly Basic Exemption: $3,500
Maximum Premium (employer or employee): CPP $2,748.90/QPP $2,910.60
GUARANTEED INCOME SUPPLEMENT
Maximum Monthly (January 2018)
Single: $898.32
Adjusted Quarterly
Maximum Monthly Allowance for Survivor: $1,361.56
(If you are a surviving spouse or common-law partner)
REGISTERED RETIREMENT SAVINGS PLANS
Contribution Limits: 18% of income (to a maximum of $26,500), less pension adjustments for benefits from Registered Pension Plans.
Based on 2018 earnings and pension benefits
EMPLOYMENT INSURANCE
Maximum Insurable Earnings: $53,100
Contribution Rate:
Employee: $1.62 per $100 (Quebec: $1.25 per $100)
Employer: $2.268 per $100 (Quebec: $1.25 per $100)
Annual Maximum Premiums:
Employee: $860.22 (Quebec: $663.75)
Employer: $1,204.31 (Quebec: $929.25)
Maximum Weekly Benefit: $562[Quebec employees and employers also contribute to the Quebec Parental Insurance Plan
(0.526%/0.736% on income to $76,500) –
Maximum premium $402.39 /$563.04]
HEALTH PREMIUMS (monthly)
Ontario: Tax of 1.95% of payroll/premium up to $900/year
Quebec: Tax of 1.25% to 4.26% of payroll (private plan premium conditions apply)
BC: Tax as a % of payroll at a rate of 1.95%
Newfoundland and Labrador: Health and Postsecondary Education Tax (HAPSET) 2% of payroll