A. PENSIONS:
1. OLD AGE SECURITY BENEFIT $524.23
(Monthly, January/2010 – adjusted quarterly)
2. CANADA/QUEBEC PENSION PLAN (2010)
* Maximum Monthly Retirement Benefit at age 65 $960.00
(Reduction of 6% per year for retirement 60-64,
Increase of 6% per year for retirement 65-70)
* Maximum Monthly Disability Benefit $1,153.37
* Maximum Monthly Survivor Benefit
CPP QPP
Under 65 $529.09 $470.98 – $793.34
(Varies with age, disability, dependents)
65 & Over 576.00 576.00
* Maximum Monthly Orphan/Dependent Child Benefits:
CPP: $218.50 QPP: $69.38
PREMIUMS: Contribution Rate:
Employer: 4.95% Employee: 4.95%
Yearly Maximum Pensionable Earnings: $48,300
Yearly Basic Exemption: $3,500
Maximum Premium (employer or employee): $2,217.60
3. GUARANTEED INCOME SUPPLEMENT
Maximum Monthly (January/2010) Single: $661.69
Adjusted Quarterly Couple: $873.90
Maximum Monthly Spouse's Allowance: $1,065.45
4. REGISTERED RETIREMENT SAVINGS PLANS:
Contribution Limits 18% of Income (to maximum of $22,450) less Pension Adjustments for benefits from Registered Pension Plans. Based on 2010 earnings and pension benefits.
B. UNEMPLOYMENT INSURANCE
Maximum Insurable Earnings: $44,200 annual
Contribution Rate:
$1.78 per $100 (Employee)
$2.49 per $100 (Employer)
Maximum Premiums:
Employee $786.76 annual (Quebec: $623.22)
Employer $1,100.58 annual (Quebec: $872.51)
Maximum Weekly Benefit: $468.00
[Quebec workers and employers have reduced EI premiums ($1.41/$1.97 per $100), but also contribute to Quebec Parental Insurance Plan (.506%/.708% on income to $64,000) – $343.68/$481.28 annual maximum]
C. MEDICARE PREMIUMS (monthly)
B.C.: $60.50 single/$109 family of 2/$121 family of 3+
Manitoba: Tax of 2.15% of payroll
Ontario: Tax of 1.95% of payroll/Premium up to $900/year
Quebec: Tax of 4.26% of payroll/Premium up to $1,000/year + $100 Health contribution
Nfld.: Tax of 2.0% of payroll