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Reduction of the employment insurance elimination period to one week

News Release

Effective January 1, 2017, the employment insurance plan (“EI plan”) elimination period will be reduced from two weeks to one week. This new measure is expected to ease the financial strain on individuals who are eligible for employment insurance who have lost their job or who must stop working on a temporary basis for family or health reasons.    

Important: If the effective date of your group insurance plan is prior to January 1, 2017, and if the existing elimination period under your short-term disability benefit is more than seven days, you will have a four-year grace period to amend your benefit. A communiqué on this change and its transition measures will be sent by Service Canada. This communiqué will be directly addressed to employers with an elimination period greater than seven days.  

For a short-term disability benefit to qualify for the Premium Rate Reduction Program, it must meet the minimum requirements of the EI plan. As a result, to qualify for this program, all short-term disability benefit (insured or self-insured) must have an elimination period of seven days or less. 

We have developed various options that meet the new requirement regarding the elimination period. All options are subject to rate adjustments. Once you are ready to comply with the new elimination period, we invite you to contact your advisor or your iA Financial Group Account Executive to discuss your options and make a plan.