How are contributions calculated?
One year of contributions to the Québec Pension Plan is entered under a worker's name for each year in which he or she contributed on earnings greater than the
basic exemption.
See...
The
table Pensionable Earnings and Contributions.
Employment earnings and contribution rates
- In
2023, the maximum earnings on which contributions can be made is $66 600; this is called the maximum pensionable earnings (MPE).
- In
2023, the contribution rate is
12.80% of the portion of employment earnings between the basic exemption and the maximum pensionable earnings. An employee pays half (6.40%) and his or her employer pays the other half. The increase in the contribution rate is due to
the enhancement of the Québec Pension Plan, which came into force on 1 January 2019 and which includes an additional plan.
Important
A self-employed worker must send his or her annual contribution directly to
Revenu Québec. In
2023, the contribution rate is
12.80% and includes the contributions to the basic plan and the additional plan.
Examples of annual contributions in
2023
Employment income for
2023
$ | Employee's contribution deducted at source
$ | Self-employed worker's contributions $ |
|---|
| 5000 | 96 | 192 |
|---|
| 10 000 | 416 | 832 |
|---|
| 15 000 | 736 | 1472 |
|---|
| 20 000 | 1056 | 2112 |
|---|
| 25 000 | 1376 | 2752 |
|---|
| 30 000 | 1696 | 3392 |
|---|
| 35 000 | 2016 | 4032 |
|---|
| 40 000 | 2336 | 4672 |
|---|
| 45 000 | 2656 | 5312 |
|---|
| 50 000 | 2976 | 5952 |
|---|
| 55 000 | 3296 | 6592 |
|---|
| 60 000 | 3616 | 7232 |
|---|
|
66 600 and over | 4038.40 | 8076.80 |
|---|
The Statement of Participation: an important tool...
The Statement of Participation is available at all times in
My Account. The Statement contains the details of a person's membership in the Plan:
- Pensionable employment earnings
- Amount on which a worker has made contributions to the Plan for each year in which employment earnings were sufficient
- Total contributions paid until now
- The amounts that could be paid to the contributor or the contributor's family in the event of retirement, death or disability
- Estimated amount of various benefits: retirement pension, disability benefits and survivors' benefits.
It is important for workers to make sure that all the employment earnings on which they contributed to the Québec Pension Plan are correctly recorded under their name. If there are any errors, Retraite Québec must be notified by completing the
Request for Corrections to Pensionable Employment Earnings (Québec Pension Plan) form.