{"id":5039,"date":"2022-01-12T00:17:39","date_gmt":"2022-01-12T05:17:39","guid":{"rendered":"http:\/\/screeners.iamaw.ca\/?p=5039"},"modified":"2022-01-12T00:17:39","modified_gmt":"2022-01-12T05:17:39","slug":"useful-numbers-2022-by-ivana-saula","status":"publish","type":"post","link":"http:\/\/screeners.iamaw.ca\/?p=5039","title":{"rendered":"USEFUL NUMBERS \u2013 2022 (By Ivana Saula)"},"content":{"rendered":"\n
  1. OLD AGE SECURITY BENEFIT (Monthly, at age 65, January 2022)<\/strong><\/li><\/ol>\n\n\n\n
    • $ 642.25 (regardless of marital status)<\/li>
    • 10% increase to OAS as of July 2022 for those 75 and older<\/li>
    • Adjusted quarterly to CPI (in January, April, July and October)<\/li>
    • OAS\/GIS can be deferred up to 5 years (to age 70), with an increase of 0.60% for each month of deferral<\/li>
    • Following increases to CPI, OAS benefit will increase by 1.1% for the January to March 2022 quarter<\/li><\/ul>\n\n\n\n
      1. CANADA\/QUEBEC PENSION PLAN (2022)<\/strong><\/li><\/ol>\n\n\n\n
        • Maximum pensionable earnings: $ 64,900<\/li><\/ul>\n\n\n\n
          • Maximum Monthly Retirement Benefit at age 65: $1,253.59<\/li>
          • (Reduction of 0.60% per month for retirement at 60-64 YO\/increase of 0.70% per month for retirement at 65-70 YO)<\/li>
          • Maximum Monthly Disability Benefit: CPP: $1,464.83 QPP: $ 1,464.83<\/li><\/ul>\n\n\n\n

            Maximum Monthly Survivor Benefit CPP:<\/strong>
            Under 65: $ 674.79
            65 & Over: $ 752.15<\/p>\n\n\n\n

            Maximum Monthly Survivor Benefit QPP:<\/strong>
            Under 65: $995.92 (Varies with age, disability and dependents)
            65 & Over: $751.15<\/p>\n\n\n\n

            CPP Children\u2019s benefits:<\/strong>
            Pension for a disabled person\u2019s child: CPP: $ 264.53 QPP: $ 264.53
            Surviving child\u2019s benefit for the child of a deceased contributor (Orphan\u2019s pension): CPP: $264.53 QPP: $83.99<\/p>\n\n\n\n

            PREMIUMS: Contribution Rate (Employer\/Employee): CPP (5.70%) QPP (5.4 %\/5.4 %)<\/p>\n\n\n\n

            • Yearly Maximum Pensionable Earnings (YMPE): $ 64,900 QPP: $ 64,900<\/li>
            • Yearly Basic Exemption: $3,500<\/li>
            • Maximum Premium (employer or employee): CPP $3,499.80\/QPP $ 3,499.80<\/li><\/ul>\n\n\n\n
              1. GUARANTEED INCOME SUPPLEMENT<\/strong><\/li><\/ol>\n\n\n\n
                • Maximum Monthly (January 2022)
                  • Single: $959.26 Married, and spouse receives OAS: $ 577.43<\/li><\/ul><\/li>
                  • Adjusted Quarterly<\/li>
                  • Maximum Monthly Allowance for Survivor: $1,453.93 (If you are a surviving spouse or common-law partner)<\/li><\/ul>\n\n\n\n
                    1. REGISTERED RETIREMENT SAVINGS PLANS<\/strong><\/li><\/ol>\n\n\n\n
                      • Contribution Limits: 18% of income (to a maximum of $29,210), less pension adjustments for benefits from Registered Pension Plans. Based on 2021 earnings and pension benefits<\/li><\/ul>\n\n\n\n

                        EMPLOYMENT INSURANCE<\/strong><\/p>\n\n\n\n

                        • Maximum Insurable Earnings: $60,300<\/li>
                        • Contribution Rate:
                          • Employee: $1.58 per $100 (Quebec: $1.20 per $100)<\/li>
                          • Employer: $2.21 per $100 (Quebec: $1.68 per $100)<\/li><\/ul><\/li>
                          • Annual Maximum Premiums:
                            • Employee: $952.74 (Quebec: $723.60.)<\/li>
                            • Employer: $1,333.84 (Quebec: $1,013.04)<\/li><\/ul><\/li>
                            • Maximum Weekly Benefit: $638.00 [Quebec employees and employers also contribute to the Quebec Parental Insurance Plan (0.494%\/0.692% on income to $88,000) \u2013 Maximum premium $434.72 \/$608.96]<\/li><\/ul>\n\n\n\n

                              HEALTH PREMIUMS 2022<\/strong><\/p>\n\n\n\n

                              • Ontario: Tax of 1.95% of payroll\/premium up to $900\/year<\/li>
                              • Quebec: Tax of 1.25% to 4.26% of payroll (private plan premium conditions apply)<\/li>
                              • Newfoundland and Labrador: Health and Postsecondary Education Tax (HAPSET) 2% of payroll<\/li>
                              • HAPSET Manitoba: 2.15%-4.3%<\/li>
                              • Employer Health Tax B.C.: 1.925%-2.925%<\/li><\/ul>\n\n\n\n

                                By Ivana Saula
                                IAM Canadian Research Director<\/p>\n","protected":false},"excerpt":{"rendered":"

                                OLD AGE SECURITY BENEFIT (Monthly, at age 65, January 2022) $ 642.25 (regardless of marital status) 10% increase to OAS as of July 2022 for those 75 and older Adjusted quarterly to CPI (in January, April, July and October) OAS\/GIS can be deferred up to 5 years (to age 70), with an increase of 0.60% for each month of deferral Following increases to CPI, OAS benefit will increase by 1.1% for the January to March 2022 quarter CANADA\/QUEBEC PENSION PLAN (2022)<\/p>\n","protected":false},"author":11,"featured_media":5040,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36,35],"tags":[],"_links":{"self":[{"href":"http:\/\/screeners.iamaw.ca\/index.php?rest_route=\/wp\/v2\/posts\/5039"}],"collection":[{"href":"http:\/\/screeners.iamaw.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/screeners.iamaw.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/screeners.iamaw.ca\/index.php?rest_route=\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"http:\/\/screeners.iamaw.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=5039"}],"version-history":[{"count":1,"href":"http:\/\/screeners.iamaw.ca\/index.php?rest_route=\/wp\/v2\/posts\/5039\/revisions"}],"predecessor-version":[{"id":5041,"href":"http:\/\/screeners.iamaw.ca\/index.php?rest_route=\/wp\/v2\/posts\/5039\/revisions\/5041"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/screeners.iamaw.ca\/index.php?rest_route=\/wp\/v2\/media\/5040"}],"wp:attachment":[{"href":"http:\/\/screeners.iamaw.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=5039"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/screeners.iamaw.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=5039"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/screeners.iamaw.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=5039"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}