The amount of your retirement pension
The amount of your pension is calculated on the basis of:
- the employment earnings recorded under your name since 1966, the year in which the Plan started;
- your age when you begin receiving your pension.
Statement of Participation in the Québec Pension Plan
To find out more about the amounts you and your family could receive at retirement or in the event of death or disability, consult your Statement of Participation online.
To better understand the variations in the amount of the retirement pension
The amount of your retirement pension is calculated on the basis of your age: the amount is therefore adjusted depending on whether you begin receiving your pension before or after your 65th birthday.
- At age 65, your pension is neither reduced nor increased. However, there will be a reduction if you received a disability pension under the Plan after age 60.
- Before age 65, your pension is reduced by 6% per year (0,5% for each month) preceding your 65th birthday.
- For example, if you begin receiving your pension at 63, it will be decreased by 12% (2 years × 6%). This reduction will apply for as long as the pension is paid.
- After age 65, your pension is increased by 6% per year (0,5% for each month) between your 65th birthday and the time when payment of your pension begins.
- For example, if you begin receiving your pension at 68, it will be increased by 18% (3 years × 6%). This increase will apply for as long as the pension is paid.
Maximum retirement pension amounts payable for persons who begin receiving their pensions in 2012
| Beneficiary's age |
Rate payable |
Maximum monthly amount |
| 60 |
70% |
690,67 $ |
| 61 |
76% |
749,87 $ |
| 62 |
82% |
809,07 $ |
| 63 |
88% |
868,27 $ |
| 64 |
94% |
927,47 $ |
| 65 |
100% |
986,67 $ |
| 66 |
106% |
1 045,87 $ |
| 67 |
112% |
1 105,07 $ |
| 68 |
118% |
1 164,27 $ |
| 69 |
124% |
1 223,47 $ |
| 70 or over |
130% |
1 282,67 $ |
Between the ages of 60 and 70, the amount varies according to the month in which payment of the pension begins.
Changes to the actuarial adjustment factor for retirement pensions
Before age 65
If a retirement pension starts being paid before age 65, it is currently reduced by 0,5% for each month included between the time payment begins and age 65. As of 1 January 2014, the actuarial adjustment factor will vary between 0,5% and 0,6% and increase progressively between 2014 and 2016. The actuarial adjustment factor will increase proportionally to the amount of the pension, remaining at 0,5% for a person who receives a very low pension, but gradually increasing to 0,6% for a person who receives a maximum pension. Contributors who were born before 1 January 1954 will not be affected by these changes.
After age 65
If a retirement pension starts being paid after age 65, the amount is currently increased by 0,5% for each month included between the age of 65 and the month in which the payment of the pension under the Québec Pension Plan begins, up until age 70. This rate will increase to 0,7% a month as of January 2013.
Important...
- Your retirement pension is taxable.
- It is adjusted in January each year to reflect increases in the cost of living.
- You can save on the income tax payable on your pension.
- You can ask us to deduct income tax at source. Simply indicate the amount to be deducted.
Terms and conditions of payment
Beginning of your retirement pension
Before age 65, the retirement pension cannot be paid until the latest of:
- the month after your 60th birthday;
- the month after the Régie receives your pension application;
- the month after you stopped working, or the month after the date on which the Régie considers that you stopped working.
Note that...
- The retirement pension, whether reduced or increased because of age, will remain so for as long as the pension is being paid.
- The retirement pension is adjusted in January each year to reflect changes in the cost of living.
- The retirement pension is paid on the last working day of the month. See the payment dates.
Retroactive pension payment
A retroactive retirement pension can cover a maximum of 60 months (5 years) and cannot begin before the 65th birthday.
- If you are between age 65 and 70 and you are still working, payment of your pension will start in the month following the date on which we receive your application.
- If you are over age 65 and have stopped working, you can receive a retroactive retirement pension.
- If you are over age 70 and are still working, you can receive a retroactive retirement pension as from the month following your 70th birthday.
You stopped working in May 2000 at the age of 65. In July 2004, you apply for your retirement pension. You are entitled, if you wish, to 50 months of retroactive pension payments. If you waited until May 2005 to apply for your pension, you would then be entitled to 60 months of retroactive payments.
How often are payments made?
Your pension will be paid either by cheque or by direct deposit on the last working day of the month.
Take advantage of direct deposit!
Simply fill out the request for Direct Deposit.
Direct deposit - A safe and advantageous option for those who live outside Canada
In certain cases, your pension can be paid by direct deposit in the currency of your country of residence. This method of payment is safe and eliminates transaction fees for cashing cheques in Canadian dollars or other currencies.
Payment dates
See the payment dates for retirement pensions.