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VIA Rail Canada Pensioners' Association - Québec

***Pensions***

For your information

Contents

Reproduction of materials:

The following information, which was copied in part, is not in any way, the official version of the materials reproduced.  The source of information is the Department of Social Development Canada (SDC).  The reproduction of information was not made in affiliation with or with the endorsement of the Department.   Due diligence has been used to ensure the accuracy of the materials reproduced.

Canada and Québec Pension Plans

The Québec Pension Plan is the equivalent of the Canada Pension Plan in all other provinces and the benefits are vertually the same.  Both are contributory plans and the benefits are based on the number of years and the amount of contributions.  These plans have nothing to do with the Old Age Security Pension Plan.  The maximum retirement (CPP or QPP) pension is paid at 65 and can be taken as early as 60 but reduced by 6% per year (0.5% per month). For more information on the Canada Pension Plan visit the site at Canada Pension Plan

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Québec Pension Plan

The Québec Pension Plan is reviewed annually in January and increased according to the cost of living.  The maximum monthly pension for 2011 paid at the age of 65 is now 960.00$.

In 2011, generally, your pension will be paid the last working day of each month.

Jan 31 Feb 28 Mar 31 April 29 May 31 June 30
July 29 Aug 31 Sept 30 Oct 31 Nov 30 Dec 29

The Québec Pension Plan pays a lump sum benefit of 2500$ to the person or charitable organization who pays for the funeral on the death of a contributor or pensioner who has made sufficient contributions.  You have five years after the date of death to apply for it.  However, this is a taxable benefit.  For more information on the Québec Pension Plan visit the site at Government of Québec

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Government Income-Security Program

The Government Income-Security Program includes the following plans :

  • Old Age Security (OAS).  The OAS pension is available to most Canadians starting at the age of 65.  OAS provides additional benefits to eligible low-income seniors:
    • Guaranteed Income Supplement (GIS) - for OAS pensioners .
    • Allowance - for 60 to 64 year-old spouses or common-law partners of pensioners who receive GIS
    • Allowance for the survivor - for 60 to 64 year-old widowed spouses or common-law partners

  • Canada Pension Plan (CPP)  With the exception of Québec residents, the Canada Pension Plan (CPP) provides contributors and their families with retirement, disability, survivor, death and children's benefits.
    • The retirement pension is a monthly payment available to CPP contributors as early as 60 years of age.
    • The disability benefit is a monthly benefit available to qualified CPP contributors and their dependent children.
    • Survivor benefits are paid to a deceased contributor's estate, surviving spouse or common-law partner and dependent children. Benefits include:
      • The death benefit - a one-time payment to, or on behalf of, the estate of a deceased Canada Pension Plan contributor;
      • The survivor's pension - a monthly pension paid to the surviving spouse or common-law partner of a deceased contributor; and
      • The children's benefit - a monthly benefit for dependent children of a deceased contributor.
    • International benefits
      • If you have lived or worked in another country, or you are the surviving spouse or common-law partner of someone who has lived or worked in another country, you may be eligible for benefits from Canada or from the other country under a social security agreement.

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Old Age Security Pension Plan for the year 2011

Old Age Security (OAS) rate increases are calculated four times a year, using the Consumer Price Index (CPI).  They come into effect each January, April, July and October.  These increases are legislated under the Old Age Security Act so that benefits keep up with the cost of living.  They are paid to most Canadians starting at the age of 65 who have lived in Canada for at least 10 years.

The OAS Maximum monthly Pension for the January - March 2011 period is 524.23$.  For further information you are invited to visit the Government of Canada site.

Old Age Security and Canada Pension Plan payments are automatically deposited into bank accounts in Canada and the United States on the following dates for the year 2011:

Jan 27 Feb 24 Mar 29 April 27 May 27 June 28
July 27 Aug 29 Sept 28 Oct 27 Nov 28 Dec 21

If you do not have the direct deposit,  payment normally should arrive at your home address by mail during the last three business days of each month.

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