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Gatineau, Quebec, November 14, 2011—The Canada Employment Insurance Commission (CEIC) today announced that the annual maximum insurable earnings (MIE) for 2012 will increase to $45,900 from $44,200.
The MIE is the income level up to which Employment Insurance (EI) premiums are paid. It is also used to determine the maximum amount of weekly EI benefits that can be collected. As a result of the rising MIE, the maximum amount of EI benefits payable will increase to $485perweek.
In addition, for self-employed people who have opted into the EI program, the annual earnings required to qualify for special benefits will increase to $6,222 from $6,000 on January 1, 2012.
The MIE is set annually by the CEIC and the calculations used to determine this amount are made by the Canada Employment Insurance Financing Board (CEIFB).
To learn more about the CEIC, visit Human Resources and Skills Development Canada’s website at www.hrsdc.gc.ca.
The Report of the Chief Actuary is available on the CEIFB website at www.ceifb-ofaec.ca.
This news release is available in alternative formats upon request.
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