The 2010 Social Security Programs ParametersLinkedIn
There, in black and white
NB Bulletin Vol. 12 N. 17, December 2009
The Quebec Pension Plan and the Canada Pension Plan
The Year's Maximum Pensionable Earnings (YMPE) for 2010 will be $47,200, an increase of 1.9% over the 2009 YMPE of $46,300. The basic exemption remains at the current level of $3,500, which is the level applicable since January 1st, 1998. Employee and employer contribution rates will remain at 4.95% of contributory earnings in 2010, for an annual maximum contribution of $2,163.15. The maximum monthly retirement pension at age 65 is set at $934.17 for 2010, based on the average YMPE over the last five years.
The Employment Insurance premium rate for employees in Quebec will be reduced by $0.02 per $100 of insurable employee earnings effective January 1st, 2010. The premium rate for employees in Quebec will therefore decrease from $1.38 to $1.36. As for employers, they will continue to contribute 1.4 times the employee rate so their premium rate will be reduced from approximately $1.93 to $1.90. These rates consider the Quebec Parental Insurance Plan (QPIP) in place since January 1st, 2006.
Employer Premium Rates as of January 1st, 2010 (1)
Quebec Parental Insurance Plan (QPIP)
The QPIP contribution rates for the year 2010 will be 0.506% for employees, 0.708% for employers and 0.899% for self-employed workers, representing an increase of 4.5% over the 2009 rates of 0.484%, 0.677% and 0.860% respectively. The maximum insurable income will increase from $62,000 to $62,500 for 2010.
Régime d'assurance maladie du Québec
The current contribution rate will remain unchanged for 2010. This rate is set at 4.26% of total payroll for certain public sector employers and for companies with a total payroll of more than $5 million. For companies with a total payroll of less than $1 million, the rate is set at 2.70% of total payroll. For companies which have a total payroll of more than $1 million but less than $5 million, the rate is a function of total payroll and ranges from 2.70% to 4.26% of total payroll according to the following formula:
Commission de la santé et de la sécurité du travail
The contribution rate to the Commission de la santé et de la sécurité du travail is determined according to the type of industry and, if applicable, to the claims experience. The maximum earnings for the income replacement benefit will increase from $62,000 to $62,500 for 2010.
Commission des normes du travail
The current contribution rate will remain unchanged for 2010, and is set at 0.08% of earnings subject to contribution. The maximum earnings subject to contribution will increase from $62,000 to $62,500 for 2010.
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