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A. PENSIONS
|
1. OLD AGE SECURITY BENEFIT
(adjusted quarterly) |
(Monthly, January 2005) |
$471.46 |
|
2. CANADA/QUEBEC PENSION PLAN (2004)
(adjusted annually) |
Maximum Monthly Retirement Benefit at age 65
(Reduction of 6% per year for retirement 60-64,
Increase of 6% per year for retirement 65-70) |
$828.75 |
|
Maximum Monthly Disability Benefit |
$1,010.23 |
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Maximum Monthly Survivor Benefit
|
CPP |
QPP |
| Under 65 |
$462.42 |
$410.31 - $710.37
(Varies with age, disability,
dependants) |
| 65 & Over |
$497.25 |
$497.25 |
|
|
|
Maximum Monthly Orphan/Dependent Child Benefits
|
|
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PREMIUMS:
Contribution Rate:
Employer: 4.95% Employee: 4.95% |
|
|
Yearly Maximum Pensionable Earnings: |
$41,100 |
|
Yearly Basic Exemption: |
$3,500 |
|
Maximum Premium (employer or employee): |
$1,831.20 |
|
|
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3. GUARANTEED INCOME SUPPLEMENT
(adjusted quarterly) |
Maximum Monthly (January 2004) Single:
Maximum Monthly (January 2004) Couple:
Maximum Monthly Spouse's Allowance: |
$560.69
$730.42
$924.04 |
|
| 4. REGISTERED RETIREMENT SAVINGS PLANS: |
Contribution Limits
18% of Income (to maximum of $16,500) less Pension Adjustments for benefits from Registered Pension Plans. Based on 2003 earnings and pension benefits. |
|
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B. EMPLOYMENT INSURANCE
|
|
Maximum Insurable Earnings:
|
$39,000 annual |
|
| Contribution Rate: |
$1.95 per $100 (Employee)
$2.73 per $100 (Employer) |
|
| Maximum Premiums: |
Employee $761.00 (annual)
Employer $1,065.00 (annual) |
|
| Maximum Weekly Benefit: |
$413.00 |
|
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C. MEDICARE PREMIUMS (monthly)
|
| Alberta: |
$44 single
$88 family |
| B.C.: |
$54 single
$96 family of 2
$108 family of 3+ |
| Manitoba: |
Tax of 2.15% of payroll |
| Ontario: |
Tax of 1.95% of payroll / Premium of up to $900 per year |
| Québec: |
Tax of 4.26% of payroll |
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