EI Premium rate set at 1.58% of insurable earnings, up to $56,300 in 2021 (from $54,200)

Employment Insurance (EI) premium rates will hold steady in 2021 and 2022. The Government of Canada has confirmed that it will temporarily freeze the federal EI premium rates for 2021 and 2022 at current levels as a result of COVID-19. Therefore, EI premium rates for employees will remain at $1.58 per $100 of insurable earnings in 2021 and 2022. However, the maximum insurable earnings for 2021 will increase to $56,300 (from $54,200) resulting in an annual cash increase in the EI contribution for employees of $ 33.18 and $ 46.76 for employers.

The information presented is only of a general nature, may omit many details and special rules, is current only as of its published date, and accordingly cannot be regarded as legal or tax advice. Please contact our office for more information on this subject and how it pertains to your specific tax or financial situation.