The Régie des rentes du Québec (RRQ) announced that payments made to Quebec Pension Plan beneficiaries will increase in 2014.

This type of increase is automatic and is therefore not subject to a decree.

Under the Act respecting the Québec Pension Plan, the rate of indexation is determined using the average of the Consumer Price Index (CPI) published by Statistics Canada for the period from November 2012 to October 2013.

The contribution rate, which is shared equally between employers and workers, will be increased by 0.15% from 10.2% to 10.35%. The maximum salary contribution will be 5.175% (instead of the current 5.1%.)

Finally, in 2014, the maximum pensionable earnings will rise from $51,100 to $ 52,500. The new maximum monthly pension amounts and other data can be found on the Régie des rentes du Québec website.

For more information, contact Jean-Guy Côté: [email protected] or 514-982-0267, ext. 332.