The chief actuary is required to report to the Employment Insurance Commission each year, indicating the employee premium rate that should generate just enough premium revenue during the coming year to cover the payments that are expected to be made. For 2006, the chief actuary's view is that the premium rate will be

• 1.87% for provinces without a Provincial Plan, and
• 1.53% for provinces with a Provincial Plan.

The 1.87% rate would be the twelfth consecutive reduction in the rate since 1994. The final rate will be announced by the Department of Finance in December and is likely to be marginally higher than the rate proposed by the chief actuary. The current 2005 employee premium rate is 1.95%.

In a separate report, the chief actuary's figures show that the maximum insurable earnings will remain at $39,000, equivalent to $750 per week, for a further year.

...back to 20 October 2005


More information:
Report of the Chief Actuary to the Employment Insurance Commission on the Employment Insurance Premium Rate for 2006
Chief Actuary's Ootlook on the Employment Insurance Account for 2005
Report on the Employment Insurance Maximum Insurable Earnings for 2006
Employment Insurance Premium Reduced to $1.95 for 2005

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