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To help you maintain your purchasing power, pensions under the Québec Pension Plan (QPP) are indexed in January of each year based on the rate determined according to the Consumer Price Index for Canada.
The annual indexation of pensions is provided for under the Act respecting the Québec Pension Plan, which also protects your pension against the risk of deflation (negative inflation rate).Therefore, your pension can never decrease.
The CPI is established by Statistics Canada by analyzing changes in consumer prices related to the everyday expenses of households for various goods and services, such as:
Food
Lodging
Clothing
Transportation
Health care
The cost of a fixed basket of 97 000 goods and services is evaluated, then it is compared to a baskefrom 2002, that is, the reference year that is currently used by Statistics Canada, when the CPI was established at 100.
In October 2024, the CPI was estimated at 161.8. This means that a purchase of $100 of goods and services from the reference basket in 2002 is now valued at $161.80.
The indexation rate is calculated according to the variation (in percentage) of Canada's CPI average from November to October, compared to the average of the 12 preceding months.
Average of the 12 preceding months.
2020
2021
2022
2023
2024
2025