2010 Government benefits

#204

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Here’s an overview of government premium rates and maximums for 2010.

Government rates and maximums for 2010

Employment Insurance (all provinces except Quebec)

2010

Maximum insurable earnings

$43,200.00

Maximum weekly benefit

$457.00

Employee premium rate (per $100 of insurable earnings)

$1.73

Employer premium rate (per $100 of insurable earnings)

$2.42

Maximum annual employee premium

$747.36

Maximum annual employer premium

$1046.30


Employment Insurance and Quebec Parental Insurance Plan (Quebec only)
 Employment Insurance

2010

Maximum insurable earnings

$43,200.00

Maximum weekly benefit

$457.00

Employee premium rate (per $100 of insurable earnings)*

$1.36

Employer premium rate (per $100 of insurable earnings*

$1.90

QPIP

Maximum annual insurable earnings

$62,500.00

Employee premium rate (per $100 of insurable earnings)

$0.506

Employer premium rate (per $100 of insurable earnings

$0.708


* Rates are lower than in the rest of Canada because of the Quebec Parental Insurance Plan (QPIP) that took effect January 1, 2006. With this legislation, Quebec offers its own parental benefits

 

Canada Pension Plan (CPP) and Quebec Pension Plan (QPP)

The following contributions and benefits data are effective January 1, 2010:

CPP

QPP

Yearly Maximum Pensionable Earnings (YMPE)

$47,200.00

$47,200.00

Yearly Basic Exemption (YBE)

$3,500.00

$3,500.00

 

Maximum annual employee / employer contributions

$2,163.15

$2,163.15

Contribution rate (employee / employer)*

4.95%

4.95%

 

Maximum self-employed contributions

$4,326.30

$4,326.30

 

Maximum monthly retirement pension

CPP

QPP

At age 65

$934.17

 

At age 60

$653.92

 

 

At age 65

 

$934.17

At age 60 (70%)

 

$653.92

At age 70 (130%)

 

$1,214.42

 

Death benefits

CPP

QPP

Lump sum

$2,500.00

$2,500.00

Maximum monthly surviving spouse’s pension:

  • under age 65

$516.57

 

  • age 65 and older

$560.50

Monthly Orphan’s Pension (each child)

$214.85

Maximum monthly surviving spouse’s pension:

  • beneficiary under age 45
  • without dependent children, not disabled

 

$459.43

  • with dependent children, not disabled

$745.93

  • disabled, with or without dependent children

$776.41

  • between ages 45 and 64

$776.41

         age 65 or older

$560.50

Monthly Orphan’s Pension (each child)

$68.22

 

 

Disability benefits

CPP

QPP

Maximum Monthly Contributor’s Pension

$1,126.76

$1,126.73

Monthly Child’s Pension (each child)

$214.85

$68.22

 

* In 2010 the employee and employer contributions for the CPP and QPP are equal to 4.95% of employment earnings (for a total of 9.9%) up to the YMPE (Yearly Maximum Pensionable Earnings) minus the YBE (Yearly Basic Exemption).

 

Have any questions?

Please contact your advisor.