Useful Numbers 2015 – by Louis Erlichman

A. PENSIONS:
1.  OLD AGE SECURITY BENEFIT (Monthly, at age 65, January/2015)   $564.87
    -adjusted quarterly
OAS/GIS can be deferred up to 5 years (to age 70), with an increase of 0.6% for each month of deferral
 
2.  CANADA/QUEBEC PENSION PLAN (2015)
   * Maximum Monthly Retirement Benefit at age 65 $1,065.00
[Reduction of 0.58%(CPP)/0.56%(QPP)per month for retirement 60-64;
 Increase of 0.70% per month for retirement 65-70]
   * Maximum Monthly Disability Benefit $1,264.59
   * Maximum Monthly Survivor Benefit     
 
                   CPP        QPP
Under 65   $581.13   $518.68 – $865.19
  (Varies with age, disability, dependents)
 
65 & Over   $639.00   $639.00
   * Maximum Monthly Orphan/Dependent Child Benefits:
 
CPP: $234.87 QPP: $74.57
 
PREMIUMS: Contribution Rate (Employer/Employee):
CPP: (4.95%/4.95%) QPP: (5.25%/5.25%)
Yearly Maximum Pensionable Earnings: $53,600
Yearly Basic Exemption: $3,500
Maximum Premium (employer or employee): $2,479.95 (CPP)/$2,630.25 (QPP)
 
3.  GUARANTEED INCOME SUPPLEMENT
Maximum Monthly (January/2015)    Single: $764.40
Adjusted Quarterly                              Couple: $1,013.72
Maximum Monthly Spouse's Allowance:     $1,198.58
     
4.  REGISTERED RETIREMENT SAVINGS PLANS: Contribution Limits
18% of Income (to maximum of $24,930) less Pension Adjustments for benefits from Registered Pension Plans. Based on 2014 earnings and pension benefits.
 
      B.  UNEMPLOYMENT INSURANCE
              Maximum Annual Insurable Earnings: $49,500 
              Contribution Rate: $1.88 per $100 (Employee)(Quebec:$1.54)
              $2.63 per $100 (Employer)(Quebec $2.14)
              Temporary Small Business (Annual Premium <$15,000) Credit of $0.39 per $100
              Maximum Premiums: Employee $930.60 annual (Quebec: $762.30)
              Employer $1,302.84 annual (Quebec: $1,067.22)
              Maximum Weekly Benefit:  $524.00 
              [Quebec workers and employers also contribute to the Quebec Parental Insurance Plan (.559%/.782% on income to $70,000) – $391.30/$547.40 annual maximum]
 
      C.  MEDICARE PREMIUMS (monthly)
           B.C.: $72.00 single/$130.50 family of 2/$144.00 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 2.7%to 4.26% of payroll/Premium up to $1,000/year + $200 Health Contribution
           Nfld.: Tax of 2.0% of payroll