QPIP 2012 premium rates announced

Rates have special adjustment aimed to reduce deficit
|payroll-reporter.com|Last Updated: 06/27/2011

The Conseil de gestion (management board) of the Parental Insurance Plan has announced the Quebec Parental Insurance Plan rates for 2012.

Effective Jan. 1, 2012, rates will be set at 0.559 per cent for salaried workers, 0.782 per cent for employers and 0.993 per cent for self-employed workers.

This special adjustment is aimed at reducing the deficit of the Parental Insurance Fund, according to the province’s government.

When the deficit is reduced, premium rates will be rolled back to their equilibrium level to allow collected premiums to ensure annual coverage of the plan’s benefits and costs.

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