Quebec Pension Plan - Key Data for 2021

Retirement and Benefits

Issue 20-26

Tue, 12/15/2020 - 08:32

The Québec Pension Plan was enhanced by introducing an Additional Plan as of January 1, 2019. As is the case with the Base Plan, the Additional Plan will also be funded by equal contributions made by the employee and their employer. Those contributions will gradually increase from 2019 to 2025.

	January 1^st
	2021	2020
MPE (Maximum pensionable earnings)	$61,600	$58,700
Basic exemption	$3,500	$3,500
Contribution rate Base Plan Additionnal Plan	10.80% 1.0%	10.80% 0.6%
Employee contribution rate Base Plan Additionnal Plan Maximum employee contribution Base Plan ($) Additionnal Plan ($)	5.4% 0.5% $3,137.40 $290.50	5.4% 0.3% $2,980.80 $165.60
Maximum monthly pension -Retirement age 65 ⁽¹⁾	$1,208.26	$1,177.30
Pension indexation rate	1.0%	1.9%

⁽¹⁾Including the base plan retirement pension and the additional plan retirement pension. These amounts consider a retirement date as at January 1^st.

This document is a summary, analysis and/or commentary made according to our understanding of an event. We take no responsibility for any use made by a third party.

Quebec Pension Plan - Key Data for 2021

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