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EI premiums for 2011 will be limited to 5 cents per $100 of insurable earnings, and 10 cents for subsequent years

The federal government announced today that Employment Insurance ("EI") premiums for 2011 will be limited to 5 cents per $100 of insurable earnings and 10 cents for subsequent years.

The government's new release further states:

The Canada Employment Insurance Financing Board (CEIFB) is required to
set the rate by November 14, 2010. Without today’s limit in place, the
CEIFB would have raised premiums by the full legislative limit of 15
cents. Under the new limit, the employee rate per $100 of insurable
earnings can rise to no higher than $1.78, starting January 1, 2011.
Employers contribute 1.4 times the employee’s premiums. The rate is
different in Quebec than in the rest of Canada because Quebec has
assumed responsibility for maternity and parental benefits.