The federal government recently announced an increase in the employment insurance (EI) maximum insurable earnings amount. They also announced a corresponding increase in the EI weekly maximum benefit. Effective January 1, 2023, maximum insurable earnings will increase to $61,500 per year for an insured worker. Accordingly, the new maximum EI benefit amount will be $650 per week.
In order to give workers additional time and flexibility to recover before returning to work, the Government has permanently increased EI sickness benefits from 15 weeks to 26 weeks. Read More.
Short-term disability (STD) plans that have a maximum set at the EI maximum, rather than at a specific amount, will automatically increase effective January 1, 2023.