Canada: Employment insurance premium rates to increase for 2024
The employment insurance premium rate for employees will increase to $1.66 (from $1.63) per $100 for 2024.
Employment insurance premium rates to increase for 2024
The Canada Employment Insurance Commission (CEIC) announced that the employment insurance premium rates will increase for 2024.
- The employment insurance premium rate for employees will increase to $1.66* (from $1.63) per $100 for 2024.
- The maximum insurable earnings for 2024 will increase to $63,200 (from $61,500). This will result in an annual cash increase in the maximum employment insurance contribution:
- For employees—$46.67
- For employers—$65.34
Rates for Quebec
In Quebec, the employment insurance premium rates for employees who are residents of Quebec will increase to $1.32 per $100 in earnings for 2024 (up from $1.27). The maximum annual Quebec employee contribution will increase to $834.24 (from $781.05) and the maximum annual employer contribution will increase to $1,167.94 (from $1,093.47).
The employment insurance premiums in Quebec are different than the federal rates because Quebec finances its own parental insurance benefits.
Read an October 2023 report [PDF 208 KB] prepared by the KPMG member firm in Canada
*$=Canadian dollar
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