On January 1, 2022, contribution limits, contribution rates and benefit maximums changed for certain Canadian benefit programs. Following is a summary of the new figures for 2022:
Employment Insurance (Federal)
| Jan 1, 2021 | Jan 1, 2022 | |
|---|---|---|
| Maximum Annual Insurable Earnings | $56,300 | $60,300 |
| Premium Rate (Employee) | 1.58% | 1.58% |
| Premium Rate (Employer) | 2.212% | 2.212% |
| Maximum Annual Premium (Employee) | $889.54 | $952.74 |
| Maximum Annual Premium (Employer) | $1,245.36 | $1,333.84 |
| Maximum Weekly Benefit | $595 | $638 |
Employment Insurance (Quebec)
| Jan 1, 2021 | Jan 1, 2022 | |
|---|---|---|
| Maximum Annual Insurable Earnings | $56,300 | $60,300 |
| Premium Rate (Employee) | 1.18% | 1.20% |
| Premium Rate (Employer) | 1.652% | 1.680% |
| Maximum Annual Premium (Employee) | $664.34 | $723.60 |
| Maximum Annual Premium (Employer) | $930.08 | $1,013.04 |
| Maximum Weekly Benefit | $595 | $638 |
Quebec Parental Insurance Plan
| Jan 1, 2021 | Jan 1, 2022 | |
|---|---|---|
| Maximum Annual Insurable Earnings | $83,500 | $88,000 |
| Premium Rate (Employee) | 0.494% | 0.494% |
| Premium Rate (Employer) | 0.692% | 0.692% |
| Maximum Annual Premium (Employee) | $412.49 | $434.72 |
| Maximum Annual Premium (Employer) | $577.82 | $608.96 |
| Maximum Weekly Benefit | Depending on plan chosen and type of benefit $883.17/ $1,124.04/ $1,204.33 |
Depending on plan chosen and type of benefit $930.76/ $1,184.60/ $1,269.22 |
Canada Pension Plan
| Jan 1, 2021 | Jan 1, 2022 | |
|---|---|---|
| Maximum Annual Pensionable Earnings | $61,600 | $64,900 |
| Basic Exemption Amount | $3,500 | $3,500 |
| Contribution Rate (Employee/Employer) | 5.45% | 5.70% |
| Maximum Annual Contribution (Employee/Employer) | $3,166.45 | $3,499.80 |
| Maximum Monthly Retirement Pension (at age 65) | $1,203.75 | $1,253.59 |
| Maximum Monthly Post-Retirement Benefit (at age 65) | $30.09 | $36.26 |
| Maximum Monthly Disability Benefit | $1,413.66 | $1,464.83 |
| Maximum Monthly Survivor’s Pension (younger than 65) | $650.72 | $674.79 |
| Maximum Monthly Survivor’s Pension (65 and older) | $722.25 | $752.15 |
| Maximum Monthly Benefit for Children of Disabled Contributor | $257.58 | $264.53 |
| Maximum Monthly Benefit for Children of Deceased Contributor | $257.58 | $264.53 |
| Lump Sum Death Benefit | $2,500 | $2,500 |
| Maximum Monthly Combined Benefits: | ||
| Combined Survivor’s and Retirement Pension (at age 65): | $1,203.75 | $1,257.13 |
| Combined Survivor’s Pension and Disability Benefit | $1,413.66 | $1,467.04 |
Quebec Pension Plan
| Jan 1, 2021 | Jan 1, 2022 | |
|---|---|---|
| Maximum Annual Pensionable Earnings | $61,600 | $64,900 |
| Basic Exemption Amount | $3,500 | $3,500 |
| Contribution Rate (Employee/Employer) | 5.70% | 6.15% |
| Maximum Annual Contribution (Employee/Employer) | $3,427.90 | $3,776.10 |
| Maximum Monthly Retirement Pension (at age 65) | $1,203.75 | $1,253.59 |
| Maximum Monthly Retirement Pension Supplement | $23.00 | $28.08 |
| Maximum Monthly Disability Benefit | $1,413.63 | $1,463.83 |
| Additional Maximum Monthly Disability Benefit for Retirement Pension Beneficiaries |
$510.82 | $524.61 |
| Maximum Monthly Survivor’s Pension: | ||
| Under age 45, not disabled, without dependent children | $576.19 | $602.86 |
| Under age 45, not disabled, with dependent children | $919.66 | $955.61 |
| Under age 45, disabled, with or without dependent children | $956.17 | $993.10 |
| Between ages 45 and 64 | $956.17 | $993.10 |
| Age 65 or over | $712.55 | $746.65 |
| Maximum Monthly Benefit for Children of Disabled Contributor | $81.78 | $83.99 |
| Maximum Monthly Benefit for Children of Deceased Contributor | $257.58 | $264.53 |
| Lump Sum Death Benefit | $2,500 | $2,500 |
Registered Pension & Savings Plans
| Jan 1, 2021 | Jan 1, 2022 | |
|---|---|---|
| Money Purchase – Maximum Annual Contribution Limit | $29,210 | $30,780 |
| Defined Benefit – Maximum Annual Pension Limit | $3,245.56 | $3,420.00 |
| Deferred Profit Sharing Plan – Maximum Annual Contribution Limit |
$14,605 | $15,390 |
| Registered Retirement Savings Plan – Maximum Annual Contribution Limit |
$27,830 | $29,210 |
| Tax-Free Savings Account – Maximum Annual Contribution Limit |
$6,000 | $6,000 |
Old Age Security
| Jan-Mar 2022 | |
|---|---|
| Maximum Monthly Pension (at age 65) | $642.25 |
| Maximum Monthly Guaranteed Income Supplement Benefits: | |
| Single, widowed or divorced pensioner | $959.26 |
| Spouse/common-law partner receives OAS pension | $577.43 |
| Spouse/common-law partner does not receive OAS pension | $959.26 |
| Spouse/common-law partner receives the Allowance | $577.43 |
| Maximum Monthly Allowance Benefits: | |
| Spouse/common-law partner receives GIS and OAS pension | $1,219.68 |
| Surviving spouse or common-law partner | $1,453.93 |