If you work in Québec and have income over $3500 a year, you probably contribute to the Québec Pension Plan, which is a compulsory public insurance plan. It provides persons who currently work or who previously worked in Québec, as well as their families, with basic financial protection in the event of retirement, death or disability.
The retirement pension under the Québec Pension Plan is:
guaranteed until death
indexed annually and therefore protected from inflation
The amount of your retirement pension is calculated on the basis of the employment earnings recorded under your name since 1966, the date on which the started. The amount of your pension also varies according to your age when you begin receiving your pension.
Retirement pensions and other pensions under the QPP are taxable. You can reduce your income tax by sharing your retirement pension under the QPP if you and your spouse are both at least 60 years of age.
If you are age 60 or over, you do not need to have stopped working to receive your retirement pension under the Québec Pension Plan. However, you must have contributed to the Québec Pension Plan for at least 1 year.
If you worked elsewhere in Canada , we also take into account contributions you made to the Canada Pension Plan when calculating the amount of your retirement pension.
You cannot receive your retirement pension before age 65 if you are receiving an unreduced income replacement indemnity from the Commission des normes, de l'équité, de la santé et de la sécurité du travail (CNESST) or if you are entitled to an indemnity from the Société de l'assurance automobile du Québec (SAAQ) and Retraite Québec has deemed you to be disabled for the same disability.
For more information, consult the Eligibility page on Retraite Québec’s website.
Age at which to apply for your pension
You can receive your full retirement pension as of age 65. However, it may be beneficial to postpone it until age 70. You can also receive it earlier and apply for it as from the age of 60 if you have contributed enough to the plan. However, the amount of your pension will be reduced.
The age at which you choose to begin receiving a retirement pension under the Québec Pension Plan (QPP) should be part of the financial planning for your retirement because it will affect your income for the rest of your life.
Before applying for a retirement pension under the Québec Pension Plan, you must take other personal factors into consideration to make sure that your retirement income will be sufficient during your entire retirement. For example, your state of health, your life expectancy, your savings and the effects of taxes on your income are factors that could justify applying for your pension earlier or at a later time.
File your application
Payment of your retirement pension is not automatic. You must file an application for a retirement pension under the Québec Pension Plan for payment to begin.
It is suggested that you file your application from 1 to 3 months before the date you want to begin receiving your pension. Get information about retirement pension conditions of payment .
If you have already received or expect to receive benefits from a public or private agency (insurance company), you should verify with that agency whether or not receiving your retirement pension under the Québec Pension Plan will reduce your payments from that agency.
If you are over 65 and have not yet applied for your pension, it can paid retroactively or be increased by 8.4 % for each year of postponement.