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Archived - Annual Report of the Canada Pension Plan 2000-2001
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Benefits and Expenditures
The number of people receiving CPP benefits has increased steadily over the past decade, as have expenditures to pay for the increased claims. Table 1 shows the yearly increases since 1997-1998.
Retirement Pensions
Retirement pensions represent 65 percent of the total number of CPP benefits paid and 69 percent of the total benefit dollars paid out by the CPP in 2000-2001. The amount of each contributor's pension depends on how much and how long he/she has contributed and at what age he/she begins to draw the benefits. In March 2001, the maximum retirement pension was $775; the average amount paid was $427.73.
Disability Benefits
Disability benefits, paid to eligible contributors and their children, represent nine percent of the total number of CPP benefits paid and 14 percent of the total benefit dollars paid out by the CPP in 2000-2001. In 2001, the maximum monthly disability benefit was $935.12; the average amount paid was $700.17. The children's benefit was a flat rate of $178.42.
Table 1 - BENEFITS AND EXPENDITURES BY FISCAL YEAR
Survivor Benefits
Survivor benefits, paid to the surviving spouse of the contributor and his/her dependent children, represent 23 percent of the total number of CPP benefits paid and 15 percent of the total benefit dollars paid out by the CPP in 2000-2001. The amount of the monthly survivor benefit varies depending on a number of factors, including the age of the spouse at death and whether the beneficiary receives other benefits as well.
Death Benefits
Death benefits represent two percent of the total number of CPP benefits paid and one percent of the total benefit dollars paid out by the CPP in 2000-2001. The death benefit is a one-time payment. The maximum payable is $2,500; the average payment in March 2001 was $2,187.12.