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Archived - Annual Report of the Canada Pension Plan 2006–07

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2006–07: The Year at a Glance

  • Changes to the Canada Pension Plan (CPP) reflect the statutory increase in maximum pensionable earnings from $42,100 for 2006 to $43,700 for 2007. The contribution rate remained unchanged at 9.9 percent.
  • The Twenty-First Actuarial Report projects that 12.2 million Canadians will contribute to the CPP in 2007.
  • 4.1 million Canadians received 4.9 million benefits from the CPP, with a total value of approximately $26.1 billion.
  • About 3.3 million CPP retirement benefits were paid, totaling $18.7 billion.
  • Benefits for approximately 979 000 surviving spouses or common-law partners and 82 000 children of deceased contributors were paid, totalling $3.8 billion.
  • Benefits for approximately 304 000 people with disabilities and 90 000 of their children were paid, totalling $3.4 billion.
  • About 117 000 death benefits were paid, totaling $0.3 billion.
  • Personal Statements of Contributions are sent to Canadians on an ongoing basis. In 2006–07, 536 335 personal Statements of Contributions were sent to individuals between the ages of 18 and 70. An additional 19 149 were sent to individuals over 70 years of age.
  • Administrative costs, including $114 million of the CPP Investment Board’s operating expenses, amounted to approximately $574 million or 2.2 percent of the $26.1 billion in benefits paid. Although administrative costs increased, this compares favourably with administrative costs for other large pension plans and individual registered retirement saving plans (RRSPs).
  • On March 31, 2007, total CPP net assets were valued at approximately $119.8 billion. The assets were held in: domestic and foreign public and private equities; provincial, territorial and federal government bonds; the Deposit with the Receiver General for Canada; the receivables net of liabilities; real estate; inflation-linked bonds; infrastructure; and money market securities. All assets are stated at fair value.

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Date Modified:
2011-11-15