Government Benefit - Update Released for 2002
This information is intended for general information. Please
refer to the Federal Government's official material for definitive information.
|
Canada Pension Plan: |
CPP
(per month)
2001
|
|
CPP
(per month)
2002
|
|
Retirement Pension |
$775.00
|
|
$788.75
|
|
Disability Pension |
935.12
|
|
956.05
|
|
Disabled or Deceased Contributors' Child |
178.42
|
|
183.77
|
|
|
|
|
|
|
Surviving Spouse |
|
|
|
|
- under age 55 |
428.70
|
|
437.99
|
|
- age 55 to 64 |
428.70
|
|
437.99
|
|
- age 65 or older |
465.00
|
|
473.25
|
|
Death Benefit (payable in one lump sum) |
2,500.00
|
|
2,500.00
|
|
|
|
|
|
|
Other Adjusted Amounts: |
|
|
|
|
Year's Maximum Pensionable Earnings (YMPE) |
38,300.00
|
|
39,100.00
|
|
Year's Basic Exemption (YBE) |
3,500.00
|
|
3,500.00
|
|
Maximum earnings on which contributions are based (YMPE - YBE) |
34,800.00
|
|
35,600.00
|
|
Maximum Annual Contributions |
|
|
|
|
- Employee |
1,496.40
(4.3%
of $34,800)
|
|
1,673.20
(4.7%
of $35,600)
|
|
- Employer |
1,496.40
(4.3%
of $34,800)
|
|
1,673.20
(4.7%
of $35,600
)
|
|
- Self Employed |
2,992.80
(8.6%
of $34,800)
|
|
3,346.40
(9.4%
of $35,600)
|
|
Old Age Security: |
2001
|
|
2002
|
|
|
Monthly
|
|
Monthly
|
|
Basic Pension |
$431.36
|
|
$442.66
|
|
Guaranteed Income Supplement: |
|
|
|
|
Single |
$512.65
|
|
$526.08
|
Married to pensioner or
Spouse's allowance recipient |
$333.92
|
|
$342.67
|
|
|
|
|
|
Spouses
Allowance: |
|
|
|
|
Age 60-64, married to someone receiving GIS |
$765.28
|
|
$785.33
|
|
Age 60-64, widowed |
$844.88
|
|
$867.02
|
|
|
|
|
|
|
Employment Insurance Benefits: |
Weekly
|
|
Weekly
|
|
|
|
|
|
|
Maximum Insurable Earnings ($39,000) |
$750.00
|
|
$750.00
|
|
Maximum Benefit |
413.00
|
|
413.00
|
|
Employee Premium Rate |
$2.25 per $100
(of insurable
earnings)
|
|
$2.20 per $100
(of insurable
earnings)
|
|
Employer Premium Rate |
$3.15 per $100
(of insurable
earnings)
|
|
$3.08 per $100
(of insurable
earnings)
|
|