Quebec Pension Plan - Key Data for 2023

Quebec Pension Plan - Key Data for 2023

Retirement and Benefits

Issue 22-23
Tue, 12/20/2022 - 08:32

The Québec Pension Plan was enhanced by introducing an Additional Plan as of January 1, 2019. As is the case with the Base Plan, the Additional Plan will also be funded by equal contributions made by the employee and their employer. Those contributions will gradually increase from 2019 to 2025.  

 

                 January 1st

2023    

2022    

MPE (Maximum pensionable earnings) 

$66,600     $64,900   
Basic exemption  $3,500     $3,500   

Contribution rate 
         Base Plan
         Additionnal Plan


10.8%    
2.0%    


10.8%   
1.5%   

Employee contribution rate 
         Base Plan
         Additionnal Plan

Maximum employee contribution       
         Base Plan ($)
         Additionnal Plan ($)

5.4%     
1.0%     

                                                 $3,407.40     
$631.00     

5.4%   
0.75%   

                                                      $3,315.60   
$460.50   

Maximum monthly pension  -Retirement age 65 (1) $1,306.57    

$1,253.59   

Pension indexation rate 

6.5%     2.7%   

(1) Including the base plan retirement pension and the additional plan retirement pension. These amounts consider a retirement date as at January 1st.

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