On January 1, 2018, contribution limits, contribution rates and benefit maximums increased for certain Canadian benefit programs. Following is a summary of the new figures for 2018.

Employment Insurance (Federal)

Jan 1, 2017 Jan 1, 2018
Maximum Annual Insurable Earnings $51,300 $51,700
Premium Rate (Employee) 1.63% 1.66%
Premium Rate (Employer) 2.282% 2.324%
Maximum Annual Premium (Employee) $836.19 $858.22
Maximum Annual Premium (Employer) $1,170.67 $1,201.51
Maximum Weekly Benefit $543 $547

Employment Insurance (Quebec)

Jan 1, 2017 Jan 1, 2018
Maximum Annual Insurable Earnings $51,300 $51,700
Premium Rate (Employee) 1.27% 1.30%
Premium Rate (Employer) 1.778% 1.82%
Maximum Annual Premium (Employee) $651.51 $672.10
Maximum Annual Premium (Employer) $912.11 $940.94
Maximum Weekly Benefit $543 $547

Quebec Parental Insurance Plan

Jan 1, 2017 Jan 1, 2018
Maximum Annual Insurable Earnings $72,500 $74,000
Premium Rate (Employee) 0.548% 0.548%
Premium Rate (Employer) 0.767% 0.767%
Maximum Annual Premium (Employee) $397.30 $405.52
Maximum Annual Premium (Employer) $556.08 $567.58
Maximum Weekly Benefit Depending on plan chosen
and type of benefit
$766.83/
$975.96/
1,045.67
Depending on plan chosen
and type of benefit
$782.69/
$996.15/
1,067.31

Canada Pension Plan

Jan 1, 2017 Jan 1, 2018
Maximum Annual Pensionable Earnings $55,300 $55,900
Basic Exemption Amount $3,500 $3,500
Contribution Rate (Employee/Employer) 4.95% 4.95%
Maximum Annual Contribution (Employee/Employer) $2,564.10 $2,593.80
Maximum Monthly Retirement Pension (at age 65) $1,114.17 $1,134.17
Maximum Monthly Post-Retirement Benefit (at age 65) $27.85 $28.35
Maximum Monthly Disability Benefit $1,313.66 $1,335.83
Maximum Monthly Survivor’s Pension (younger than 65) $604.32 $614.62
Maximum Monthly Survivor’s Pension (65 and older) $668.50 $680.50
Maximum Monthly Benefit for Children of Disabled Contributor $241.02 $244.64
Maximum Monthly Benefit for Children of Deceased Contributor $241.02 $244.64
Maximum Lump Sum Death Benefit $2,500 $2,500
Maximum Monthly Combined Benefits:
         Combined Survivor’s and Retirement Pension (at age 65): $1,114.17 $1,134.17
         Combined Survivor’s Pension and Disability Benefit $1,313.66 $1,335.83

Quebec Pension Plan

Jan 1, 2017 Jan 1, 2018
Maximum Annual Pensionable Earnings $55,300 $55,900
Basic Exemption Amount $3,500 $3,500
Contribution Rate (Employee/Employer) 5.40% 5.40%
Maximum Annual Contribution (Employee/Employer) $2,797.20 $2,829.60
Maximum Monthly Retirement Pension (at age 65) $1,114.17 $1,134.17
Maximum Monthly Retirement Pension Supplement $21.42 $21.58
Maximum Monthly Disability Benefit $1,313.63 $1,335.80
Additional Maximum Monthly Disability Benefit for
Retirement Pension Beneficiaries
$478.00 $485.17
Maximum Monthly Survivor’s Pension:
         Under age 45, not disabled, without dependent children $540.23 $549.57
         Under age 45, not disabled, with dependent children $861.64 $875.80
         Under age 45, disabled, with or without dependent children $895.81 $910.48
         Between ages 45 and 64 $895.81 $910.48
         Age 65 or over $668.50 $680.50
Maximum Monthly Benefit for Children of Disabled Contributor $76.52 $77.67
Maximum Monthly Benefit for Children of Deceased Contributor $241.02 $244.64
Maximum Lump Sum Death Benefit $2,500.00 $2,500.00

Registered Pension & Savings Plans

Jan 1, 2017 Jan 1, 2018
Money Purchase – Maximum Annual Contribution Limit $26,230 $26,500
Defined Benefit – Maximum Annual Pension Limit $2,914.44 $2,944.44
Deferred Profit Sharing Plan – Maximum Annual Contribution
Limit
$13,115 $13,250
Registered Retirement Savings Plan – Maximum Annual
Contribution Limit
$26,010 $26,230
Tax-Free Savings Account – Maximum Annual Contribution
Limit
$5,500 $5,500

Old Age Security

Oct – Dec 2018
Maximum Monthly Pension $600.85
Maximum Monthly Guaranteed Income Supplement Benefits:
        Single, widowed or divorced pensioner $897.42
        Spouse/common-law partner receives OAS pension $540.23
        Spouse/common-law partner does not receive OAS pension $897.42
        Spouse/common-law partner receives the Allowance $540.23
Maximum Monthly Allowance Benefits:
        Spouse/common-law partner receives GIS and OAS pension $1,141.08
        Surviving spouse or common-law partner $1,360.20

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With rising costs and changing demographics, employers need to pay close attention to group insurance, retirement benefits and total rewards provided to employees. WCBC offers consulting solutions and a variety of published surveys that can help.

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