2021 maximum insurable earnings
In accordance with the Employment Insurance (EI) Act, the Canada Employment Insurance Commission will increase the annual maximum insurable earnings (MIE) from $54,200 to $56,300, effective January 1, 2021. Short‐term and long‐term disability insurance plans that are subject to the EI maximum benefit or that contain provisions associated with the MIE will be adjusted accordingly. Any necessary adjustments to short‐term and long‐term disability insurance premiums will be reflected on your January 2021 billing statement.
The table below highlights the MIE changes:
|Maximum insurable earnings||2021||2020|
|Maximum weekly employment insurance benefit (55% of MIE)||$595||$573|
If you have any questions about Employment Insurance, visit the Government of Canada website at www.hrsdc.gc.ca.
For any other questions, please contact your advisor or your iA Financial Group Account Executive.