Legislative roundup: Changes in payroll laws and regulations from across Canada

EI financing board publishes 2012 premium rate report • WorkSafeNB announces 2012 assessment rates • WCB assessment rates holding steady in Newfoundland and Labrador • PEI WCB reduces preliminary average assessment rate
|Canadian Payroll Reporter|Last Updated: 12/07/2011

Canada

EI financing board publishes 2012 premium rate report

The Canada Employment Insurance Financing Board (CEIFB) published its employment insurance (EI) premium rate report, which includes the 2012 rates and forecasts the cumulative deficit for the EI operating account. The CEIFB board of directors has set the 2012 EI premium rate for residents of all provinces, with the exception of Quebec, at $1.83 per $100 of insurable earnings. The EI premium rate for Quebec residents is set at $1.47.  The 2012 break-even rate for residents of all provinces with the exception of Quebec is forecast to be $2.56 per $100 of insurable earnings. After applying the premium reduction for residents of a province with a provincial parental leave plan, the break-even rate for Quebec residents is forecast to be $2.20 per $100 of insurable earnings, according to the CEIFB chief actuary. For the first time since its establishment, the EI operating account is expected to break even on an annual basis in 2012. This would maintain the cumulative deficit at $8.8 billion as at Dec. 31, 2012. On Nov. 8, the Government announced that it would limit the increase of the EI premium rate to five cents per $100 of insurable earning in 2012.

New Brunswick

WorkSafeNB announces 2012 assessment rates