The federal government has launched consultations on EI premium setting. This provides the opportunity to shift from a very ad hoc system to one that is more fair to workers, and more economically rational.
The current worker premium is $1.78 per $100 of insured earnings and the employer premium is $2.49 per $100, adding to a total premium of $4.27 per $100 of insured earnings. EI premiums are paid on earnings up to an annual maximum of $44,200.
Premiums are, under current rules, set to rise by 24 cents per $100 of insured earnings each year between now and 2015-16. (The increase in the worker premium will be 10 cents; employers pay 1.4 times the worker premium.)