The Québec Pension Plan
The Québec Pension Plan (QPP) is a compulsory public insurance plan for workers aged 18 and over whose annual employment income is greater than $3500. Its purpose is to provide persons who have worked in Québec and their families with basic financial protection in the event of retirement, death or disability. Elsewhere in Canada, the equivalent plan is the Canada Pension Plan.
Since 2019, the
QPP has been composed of the base plan and the additional plan. Adding the additional plan increases the income replacement rate from 25% to 33.33%. It also increases the maximum pensionable salary, until it reaches 114% of the
maximum pensionable earnings (MPE) in 2025.
Contributions
The
base plan is funded by contributions made by individuals who work in Québec and their employers.
In
2024, the
contribution rate for the Québec Pension Plan is
10.8%. That rate is split equally between the employer and the employee, and applies to part of the employment earnings between the $3500 general exemption and $68 500, which is the maximum amount on which employees can contribute in 2024.
The
additional plan is also funded by contributions made by individuals who work in Québec and their employers. In
2024, the contribution rate for Québec Pension Plan is
8%. That rate is split equally between the employer and the employee. Those contributions will gradually increase from 2019 to 2025.
Self-employed workers pay both shares of the contributions. All contributions are collected by Revenu Québec.
Financial protection offered
Changes scheduled for 1 January 2025
Changes to the Québec Pension Plan (QPP) are scheduled for 1 January 2025. The changes will affect persons aged 65 or over who received a disability pension between ages 60 and 65.
The
base plan provides different pensions and benefits to individuals who have made sufficient contributions and, in certain cases, to their families:
-
At retirement
-
In the event of disability
-
In the event of death
The
additional plan increases the following pensions and benefits:
-
At retirement
- retirement pension
- retirement pension supplement
-
In the event of disability
-
In the event of death
- surviving spouse's pension
Maximum amounts for pensions paid in 2024
Québec Pension Plan Figures gives information and the
maximum amounts of pensions paid per month in
2024.
Financial protection offered when working abroad
A person working abroad and his or her spouse may be entitled to a retirement, disability, surviving spouse's or orphan's pension paid by a
foreign country. However, the following conditions must be met:
A
certificate of coverage for work abroad can be obtained from our
Bureau des ententes de sécurité sociale (BESS).
How is the Plan managed?
The
Caisse de dépôt et placement du Québec 
manages the Québec Pension Plan's assets. On 31 December 2021, they were more than 106 billion dollars.
The Québec Pension Plan (QPP) is closely being monitored. Two safeguards have been implemented in order to improve and stabilize plan funding and properly meet the clients' needs:
- an actuarial valuation carried out
every 3 years to determine the
QPP's ability to face its future financial obligations
- a
public consultation held
every 6 years to consult the population on amendments to be made to the QPP.
Actuarial valuations and periodic public consultations allow the plan to be adapted to changing demographics as well as socioeconomic changes in Québec by making the necessary adjustments.
Also consult