Québec Pension Plan

  • The amount of your pension is based on the employment earnings recorded under your name since 1966, the year in which the Québec Pension Plan began. A pension varies according to the age at which you begin to receive it, depending on whether payment begins before or after your 65th birthday.
  • We do not count certain months with low earnings or no earnings. That increases your average monthly earnings to increase the amount of your retirement pension.
  • The pension under the Québec Pension Plan is indexed each year in January based on changes in the cost of living.
  • Payment of your pension is not automatic. You have to apply for it. It is recommended that you file your application from 1 to 3 months before the date you wish to begin receiving your pension.
  • A retirement pension is taxable.
  • If you are receiving a retirement pension and you work, you will receive a retirement pension supplement the following year.

Supplemental pension plans

  • You can draw a retirement income in different ways depending on your type of supplemental pension plan: defined contribution pension plandefined benefit pension plan or a simplified pension plan.
  • Depending on your situation, your retirement income may come from a life income fund (LIF), an annuity contract purchased from an insurer or directly your pension plan (unless it is a simplified plan).
  • Your retirement income may or may not be indexed. That depends on the characteristics of your plan the payment options that you select.
  • Your retirement income is taxable.

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