If you have contributed sufficiently to the Québec Pension Plan, you are entitled to a basic source of income when you retire. The amount of the pension depends on your age at retirement and the employment earnings on which you have contributed.
A retirement pension is a basic source of income that you can receive if you have contributed to the Québec Pension Plan. You can begin receiving your pension as early as age 60 and you may continue working part-time while doing so. However, the amount of the pension is lower if you start receiving it before 65, whereas it is increased if you start receiving it after 65.
Retirement Pension and Disability
If you receive a retirement pension and are deemed disabled by Retraite Québec in the first 6 months after payment begins, you can ask that it be cancelled in order to receive a disability pension instead. The amounts paid already as a retirement pension would then have to be reimbursed.
If it is impossible for you to have the retirement pension cancelled, you may be entitled to the additional amount for disability.
Cancellation of a Retirement Pension
You can cancel your retirement pension within 6 months of receipt of your first payment by sending a written request for cancellation to Retraite Québec. The amounts already received as a retirement pension must then be reimbursed.
Since the clientele and the conditions vary according to the service, the information is provided under each service.
The amount of the retirement pension is calculated on the basis of:
- the number of years you contributed to the Québec Pension Plan
- the employment earnings on which your contributions were paid
- your age when you start receiving your retirement pension
If you start receiving your retirement pension at age 65, the amount will correspond to about 25% of the average monthly earnings on which contributions were made.
Payment of the retirement pension continues until death.
Pension for which payment begins at age 60 or over, but under 65
For those born before January 1, 1954
If you start receiving your pension before age 65, it will be reduced by applying an adjustment factor of 0.5% for each month between the month of the first payment and the month when you turn 65 (a reduction of 6% per year). The maximum reduction, therefore, for a pension starting in the month when the beneficiary turns 60 is 30%. This reduction will apply for as long as the pension is paid.
For those born on or after January 1, 1954
If you start receiving your pension before age 65, it will be reduced by applying an adjustment factor to each month between the month of the first payment and the month you turn 65. Depending on the year you retire and the amount of the pension, this monthly reduction will range from 0.5% to 0.56% for a pension starting in 2015, and from 0.5% to 0.6% for a pension starting in 2016.
Pension for which payment begins at age 65
The normal retirement age is 65. If you start receiving your retirement pension in the month when you turn 65, it is neither reduced nor increased.
Pension for which payment begins when you are over 65, but under 70
If you start receiving your pension after the month you turn 65, it is increased by 0.7% for each month between the month you turned 65 and the month of the first payment, up to a maximum of 42% at age 70. This increase will apply for as long as the pension is paid.
Pension for which payment begins at age 70 or over
If you start receiving your pension at age 70 or later, it is increased by 42% over the amount you would have received if you had started at 65. This is the maximum increase.
Maximum Monthly Amounts in 2018
| 60 |
64% |
$725.87 |
| 61 |
71,2% |
$807.53 |
| 62 |
78,4% |
$889.19 |
| 63 |
85,6% |
$970.85 |
| 64 (1) |
92,8 % |
$1,052.51 |
| 64 (2) |
94 % |
$1,066.12 |
| 65 |
100% |
$1,134.17 |
| 66 |
108.4% |
$1,229.44 |
| 67 |
116.8% |
$1,324.71 |
| 68 |
125.2% |
$1,419.98 |
| 69 |
133.6% |
$1,515.25 |
| 70 and over |
142% |
$1,610.52 |
Start of Pension Payments
If you apply for your pension before you turn 65, payments will begin on the latest of the following dates:
- The month after your 60th birthdayà
- The month after your pension application is received
- The month specified in your pension application
Retroactive Payments
If you are over 65 and have not yet applied for a retirement pension, you could receive a retroactive pension. Retroactive payments can cover up to 12 months, but cannot extend to before your 65th birthday. However, you cannot receive both retroactive payments and the monthly increase that normally applies based on your age for the same period of time.
Tax Treatment
Your retirement pension is subject to income tax.
You can ask Retraite Québec to deduct income tax at source.
Indexation
The retirement pension is indexed annually each January based on the cost of living.
Terms of Payment
The retirement pension is paid on the last working day of the month, by cheque or direct deposit.
Dates of Monthly Payments
In 2018, monthly payments of the retirement pension will be made on the following dates:
| January 31 |
April 30 |
July 31 |
October 31 |
| February 28 |
May 31 |
August 31 |
November 30 |
| March 29 |
June 29 |
September 28 |
December 28 |
Retirement Pension and Other Income
A retirement pension from the Québec Pension Plan is not reduced if you also receive payments from another public or private plan. However, the amount of the pension is taken into account in the calculation of social assistance and social solidarity benefits, Employment Insurance benefits, and the Guaranteed Income Supplement. Contact the Ministries or Organizations concerned for more information.
Pension Sharing Between Spouses
To save on income tax, spouses can share their retirement pension under certain conditions. Pension sharing is calculated based on the number of years the spouses have been together and the number of years each has contributed. This means that for tax purposes, the pension is not necessarily divided equally between the spouses.
