Subject: Changes to Employment Insurance Maximum Insurable Earnings and Benefit Rate for 2013
We are writing to inform you of changes to the 2013 maximum insurable earnings and benefit rate set for Employment Insurance, which were announced on September 14, 2012, by the Canada Employment Insurance Commission (CEIC) and the Canada Employment Insurance Financing Board (CEIFB).
Effective January 1, 2013, the annual maximum insurable earnings will increase to $47,400 from the existing $45,900. As a result, the maximum weekly EI benefit rate will increase to $501 from the current amount of $485.
The EI premium rate for workers will increase to $1.88 for every $100 of salary up to $47,400. The corresponding employer rate will also increase to $2.63. For Quebec, the EI premium rate will be set at $1.52 for workers and $2.13 for employers. This lower premium rate is due to Quebec’s delivery of its own parental benefits since January 2006.