2021 Employment Insurance (EI) premium rate has been announced by the Canada Employment Insurance Commission (CEIC).

The EI premium rate for 2021 is set at $1.58 per $100 of insurable earnings for employees and $2.12 for employers. These rates have remained the same when compared to the current year 2020.

However, the Maximum Insurable Earnings (MIE) for 2021 is set at $56,300, a $2,100 increase from $54,200 in 2020. This is similar to the 2020 MIE increase from $53,100 in 2019.

EI regular benefit is paid to eligible employees who have lost their jobs. Amounts can be paid up to 55% of employee’s maximum weekly earnings. This program was initiated to temporarily ease the financial burden of those who have lost their jobs. The benefits can be paid for 14 to 45 weeks depending on certain factors.