Calculation of your retirement pension under the Québec Pension Plan
To find out the amount of employment earnings recorded under your name and to obtain an estimate of your retirement pension, consult your
Statement of Participation in the Québec Pension Plan.
If you file an Application for a Retirement Pension at age 65, the
amount of your retirement pension will replace between 25% to 33.33% of the average monthly earnings on which you contributed to the Plan. That rate varies based on the number of years during which you contributed to the additional plan, which was introduced following the
enhancement to the Québec Pension Plan in 2019. Also, the maximum monthly retirement pension is $1208.26 in
2021. If you are under age 65, you will receive a reduced pension for the duration of your retirement. Conversely, your pension will be greater if you begin receiving it after age 65.
The payment conditions vary depending on whether payment begins before or after your 65th birthday. If your pension begins after your 65th birthday, you could be entitled to a retroactive pension payment covering a maximum of 12 months from the date the application is filed.
Certain months in which your earnings were low or nil can be deducted from the calculation of the average, which raises your average monthly employment earnings and increases the amount of your pension.
If you are divorced or separated and there has been a partition of earnings recorded under the Québec Pension Plan, it is taken into account in the calculation of your pension.
Your retirement pension is taxable and is adjusted each year in January on the basis of the increase in the cost of living.
To reduce income taxes payable, you can share your retirement pension with your spouse.
Payment of your pension is not automatic. You must file an
Application for a Retirement Pension under the Québec Pension Plan in My Account.