The Québec Pension Plan
The Québec Pension Plan is a compulsory public insurance plan for workers age 18 and over whose annual employment income is greater than 3 500 $. Its purpose is to provide persons who work in Québec (or have worked in Québec) and their families with basic financial protection in the event of retirement, death or disability. The Plan's future is guaranteed, thanks to the passage of the Act to amend the Act respecting the Québec Pension Plan and other legislative provisions in 2011.
Contributions to the Plan
The Québec Pension Plan is funded by contributions made by Québec workers and employers. Contributions are collected by Revenu Québec and are administered by the Caisse de dépôt et placement du Québec.
In 2015, the contribution rate for the Québec Pension Plan is 10,50%. The rate applies to the portion of employment earnings between the basic exemption of 3 500 $ and the maximum earnings on which contributions can be made in 2015, which is 53 600 $.
What type of financial protection does the Plan offer?
Here are the different pensions and benefits that the Régie can offer to persons and, in certain cases, their families, who have made sufficient contributions to the Plan:
- At retirement
- In the event of disability
- In the event of death
To find out maximum amounts for pensions paid in 2015
Québec Pension Plan Figures gives basic information on the Québec Pension Plan and the maximum monthly amounts of pensions paid under the Plan in 2015.
For Quebeckers working abroad
A worker and his or her spouse may be entitled to a retirement, disability, surviving spouse's or orphan's pension paid by a foreign country. The following conditions must, however, be met:
A certificate of coverage for work abroad can be obtained from the Régie des rentes du Québec's Bureau des ententes de sécurité sociale (BESS).
Other useful links...