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Maximum EI Insurable Earnings Increasing

Employment Insurance is changing.  We are still waiting on confirmation of the Disability payment going from a 17-week payout to a 26 week payout.  In the meantime, Canada Life has confirmed that EI is increasing the benefit as per below:

Effective Jan. 1, 2023:

The maximum insurable earnings is increasing from $60,300 to $61,500.

The new EI maximum weekly benefit amount is increasing to $650 per week ($61,500 at 55%, over 52 weeks) rounded to
the nearest dollar.

All group clients who participate in the Employment Insurance Premium Reduction Program (EI PRP) must reflect the new
EI weekly maximum in their short-term disability (STD) plan to remain eligible under the EI PRP. The benefit amount must
be equal or greater than the EI weekly maximum.

We will keep you updated on any additional changes.

If you would like to work with a Broker who stays on top of the ever-changing world of Employee Benefits, contact Glendinning Insurance Services at (250) 764-0142.

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