The Canada Employment Insurance Commission (CEIC) announced that the Employment Insurance (EI) Maximum Insurable Earnings (MIE) for 2019 will increase to $53,100 from $51,700 in 2018. The MIE is indexed on an annual basis and represents the ceiling up to which EI premiums are collected and the maximum amount considered in applications for EI benefits.
The EI premium rate for 2019 is $1.62 per $100 of insurable earnings, representing a decrease of 4 cents for employees compared to the 2018 rate and an effective decrease of 5.6 cents for employers, who pay 1.4 times the employee rate.
CEIC also announced that for residents of Quebec covered under the Quebec Parental Insurance Plan (QPIP), premiums will be reduced by 5 cents per $100 of insurable earnings, to a premium rate of $1.25 ($1.75 for employers).
The Premium Reduction Program will provide roughly $1 billion in premium relief in 2019 to registered employers and their employees in recognition of savings generated to the EI program by employer registered short-term wage-loss plans.