The Canada Employment Insurance Commission announced the following rates for 2023:
- Maximum insurable earnings will increase from $60,300 to $61,500
- EI premium rate will increase from 1.58% to 1.63% outside of Quebec
- In Quebec, the EI premium rate will increase from 1.20% to 1.27%.
End of Employment Insurance (EI) sickness benefits
Effective September 25, 2022, the temporary changes to the Employment Insurance (EI) program to help Canadians access benefits during COVID-19 will no longer be in effect. As a result:
- Actual regional unemployment rates will be used instead of the minimum rate of 13.1% that has been used since September 2020. The unemployment rate is used to calculate the maximum EI benefits duration.
- Employees will need between 420 and 700 of insurable hours to qualify for EI benefits as opposed to the 420 insurable hours.
- A new earnings threshold will be used for self-employed workers and fishers.
More details are available here.
Article is closed for comments.