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 Québec Pension 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.
When to apply?
The amount of a retirement pension under the Québec pension Plan depends on your age when you begin receiving your retirement pension, the number of years you contributed to the Plan and the employment earnings on which you contributed. It is adjusted according to whether payment of your pension begins before or after your 65th birthday. The age at which you begin receiving your retirement pension will determine the amount of your pension for as long as it is paid to you.
To make an informed choice, you need to consider a wide array of factors, such as:
- your income (employment, private pension plan, personal savings, etc.)
- the adjustment factor applied to your pension based on your age and the amount of your pension
- how your retirement pension under the Plan may affect benefits under other programs
- your life expectancy
- payment of a surviving spouse's pension.
A financial planner can help you choose the best time to begin receiving your pension, depending on your financial resources and overall needs.
To simulate your retirement income, use our SimulR and CompuPension tools.
Maximum retirement pension amounts payable for persons who begin receiving their pensions in
2023
| Age | Rate | Maximum monthly amount
See Note 1 |
|---|
| 60 | 64% | $836.20 |
| 61 | 71.2% | $930.28 |
| 62 | 78.4% | $1024.35 |
| 63 | 85.6% | $1118.42 |
| 64 | 92.8% | $1212.50 |
| 65 | 100% | $1306.57 |
| 66 | 108.4% | $1416.32 |
| 67 | 116.8% | $1526.07 |
| 68 | 125.2% | $1635.83 |
| 69 | 133.6% | $1745.58 |
| 70 or over | 142% | $1855.33 |
- The amounts apply to persons entitled to the maximum pension.