Canada Pension Plan and Old Age Security Benefit rates

Rate increases effective Jan. 1, 2011
|Canadian Payroll Reporter|Last Updated: 12/06/2010

Human Resources and Skills Development Canada announced the benefit rates for the Canada Pension Plan (CPP) and Old Age Security (OAS), effective Jan. 1, 2011.

CPP benefits will increase by 1.7 per cent. CPP benefits are revised once a year, in January, based on changes over a 12-month period (November 2009 to October 2010) in the Consumer Price Index. The maximum CPP retirement benefit will increase from $934.17 to $960 per month.

The basic OAS pension, the Guaranteed Income Supplement and the Allowances will increase by 0.5 percent. These payments are also based on the Consumer Price Index but are revised quarterly, in January, April, July and October. The maximum basic Old Age Security pension will increase from $521.62 to $524.23 per month.

The Guaranteed Income Supplement and the Allowances provide additional income to low-income pensioners, their spouses or common-law partners and eligible survivors.

Although OAS and CPP benefits are not indexed at the same time, they are both adjusted with the cost of living over a given year.

MAXIMUM CANADA PENSION PLAN BENEFIT RATES AS OF JANUARY 1, 2011

Type of Canada Pension Plan BenefitMaximum Benefit Rates for 2011
Retirement pension (at age 65)$960
Disability pension $1,153.37
Survivor's pension (under age 65) $529.09
Survivor's pension (age 65 and over) $576
Disabled contributor's child benefits
Deceased contributor's child benefits
$218.50
$218.50
Death benefit $2,500
Combined pensions:
Survivor/Retirement (retire at age 65)
Survivor/Disability

$960.00
$1,153.37
Flat rate:
Survivor's pension
Disability pension

$169.09
$433.37

MAXIMUM OLD AGE SECURITY BENEFIT RATES AS OF JANUARY 1, 2011


Type of Old Age Security benefit

Maximum monthly benefit rates
January to March 2011

Previous quarter October to December 2010

Basic Old Age Security pension

$524.23

$521.62
Guaranteed Income Supplement  

Single

$661.69

$658.40

Spouse/Common-law partner of
  
  a non-pensioner
$661.69

$658.40
  a pensioner
$436.95

$434.78
  an Allowance recipient
$436.95

$434.78

The Allowances

regular
survivor



$961.18
$1,065.45



$956.40
$1,060.15

Add Comment

  • *
  • *
  • *
  • *