Québec Pension Plan

The Québec Pension Plan (QPP), established in 1966, is the counterpart of the CANADA PENSION PLAN for the Québec labour force.

Québec Pension Plan

The Québec Pension Plan (QPP), established in 1966, is the counterpart of the CANADA PENSION PLAN for the Québec labour force. The plan has the same rate of contributions, maximum pensionable earnings, retirement pensions and annual escalation of benefits, but the QPP flat-rate components of disability and surviving spouses' benefits are higher.

The QPP allows women to exclude the periods during which they were at home in charge of a child under 7 years of age from the formula used to calculate pensions. Women in this category would be eligible for higher pensions under the QPP than under the CPP.

QPP funds are deposited with the CAISSE DE DÉPOT ET PLACEMENT DU QUÉBEC (CDP). In 2003, the QPP had total assets of $20.4 billion, of which $20.1 billion were placed with the CDP. The CDP in turn reports that in 2003 its investments, which include funds from a number of other retirement plans and employee funds, were divided as follows: bonds and other fixed income securities (37.5%); Canadian equities (17.5%); foreign equities (25.2%); real estate (8.7%); and other investments (11.1%).