Page 32 - A Canuck's Guide to Financial Literacy 2020

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▪ 52-week period before the start date of your claim
▪ or
▪ the period from the beginning of a previous benefit period to the start of your new
benefit period

The qualifying period may be extended to a maximum of 104 weeks if you couldn’t work due
to illness, injury or pregnancy.

Amount of Benefits

The amount that you could receive from employment insurance isn’t fixed. It depends on
your earnings and where you currently live. For the average person, the basic rate to
determine EI benefits is 55% of their average insurable weekly earnings up to a maximum
amount. By submitting a formal application, you’ll be able to find the weekly EI amount
which is payable from 14 weeks up to 45 weeks.

For 2020, the maximum yearly insurable earnings is $54,200 or $573 per week.

The benefits are based on your highest weeks of earnings over the qualifying period which
is usually 52 weeks. The benefits are calculated over a number of weeks which can range
from 14 weeks to 22 weeks, depending on the unemployment rate in the region. 22 weeks
is used in regions with the lowest rates of unemployment while 14 weeks is used in areas
with high rates of unemployment.

Keep in mind that your benefits can be reduced if you earn certain type of income during the
benefit period such as

▪ Income from CPP or pension plan
▪ Severance Pay
▪ Legal settlements due to wrongful dismissal
▪ Self employment income
▪ Callback pay which means that your employee calls you back for a short period of
time after you’ve been let go.

Low Income Family Supplement

Low income families with income less than $25,921 per year may be eligible to receive the
EI family supplement. The supplement is based on number of children in the family and
your family net income. The supplement may increase your EI benefit rate up to 80% of
your average insurable earnings. Family supplement can only be received by one spouse
and it’s recommended that the lower spouse receive the benefit.

Applying for EI Benefits

Before you apply, make sure that you gather all the applicable documents needed to
complete the application such as