Canada: Employment insurance premium rates to increase for 2023
Employment insurance premium rate for employees, maximum insurable earnings for 2023
Employment insurance premium rate for employees, maximum insurable earnings for 2023
The Canada Employment Insurance Commission (CEIC) announced that the employment insurance premium rates will increase for 2023.
- The employment insurance premium rate for employees will increase to $1.63 (from $1.58) per $100 for 2023.
- The maximum insurable earnings for 2023 will increase to $61,500 (from $60,300). This will result in an annual cash increase in the maximum employment insurance contribution:
- For employees—$49.71
- For employers—$69.59
Rates for Quebec
In Quebec, the employment insurance premium rates for employees who are residents of Quebec will increase to $1.27 per $100 in earnings for 2023 (up from $1.20). The maximum annual Quebec employee contribution will increase to $781.05 (from $723.60) and the maximum annual employer contribution will increase to $1,093.47 (from $1,013.04).
The employment insurance premiums in Quebec are different than the federal rates because Quebec finances its own parental insurance benefits.
Read an October 2022 report [PDF 208 KB] prepared by the KPMG member firm in Canada
The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organization. KPMG International Limited is a private English company limited by guarantee and does not provide services to clients. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm. The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 3712, 1801 K Street NW, Washington, DC 20006.