|
A. PENSIONS
|
1. OLD AGE SECURITY BENEFIT
(adjusted quarterly) |
(Monthly, July 2007) |
$497.93* |
|
| 2. CANADA/QUEBEC PENSION PLAN (2007) |
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) |
$863.75 |
|
Maximum Monthly Disability Benefit |
$1,053.77 |
|
Maximum Monthly Survivor Benefit
|
CPP |
QPP |
| Under 65 |
$482.30 |
$427.87 - $729.84
(Varies with age, disability,
dependants) |
| 65 & Over |
$518.25 |
$518.25 |
|
|
|
Maximum Monthly Orphan/Dependent Child Benefits
|
|
|
PREMIUMS:
Contribution Rate:
Employer: 4.95% Employee: 4.95% |
|
|
Yearly Maximum Pensionable Earnings: |
$43,700 |
|
Yearly Basic Exemption: |
$3,500 |
|
Maximum Premium (employer or employee): |
$1,989.90 |
|
|
|
3. GUARANTEED INCOME SUPPLEMENT
(adjusted quarterly) |
Maximum Monthly (January 2007) Single:
Maximum Monthly (April) Couple:
Maximum Monthly Spouse's Allowance: |
$628.36*
$829.92*
$1,011.30* |
|
| 4. REGISTERED RETIREMENT SAVINGS PLANS: |
Contribution Limits
18% of Income (to maximum of $19,000) less Pension Adjustments for benefits from Registered Pension Plans. Based on 2006 earnings and pension benefits. |
|
|
|
B. EMPLOYMENT INSURANCE
|
|
Maximum Insurable Earnings:
|
$40,000 annual |
|
| Contribution Rate: |
$1.80 per $100 (Employee)
$2.52 per $100 (Employer) |
|
| Maximum Premiums: |
Employee $720.00 (annual)
Employer $1,008.00 (annual) |
|
| Maximum Weekly Benefit: |
$423.00 [Québec workers have reduced EI premiums ($1.46 per person per $100), but also contribute to Québec Parental Insurance Plan (.416% on income to $59,000)] |
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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 / Premium of up to $1,000 per year |
| Newfoundland |
Tax of 2% of payroll |
|
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