Employment Insurance Act

Marginal note:Annual premium rate setting

• 66 (1) Subject to subsection (2) and sections 66.1 and 66.3, the Commission shall set the premium rate for a year, taking into account

  • (a) the principle that the premium rate should generate just enough premium revenue during that year to cover the payments that will be made under subsection 77(1) during that year, based on the information provided by the Minister of Finance under section 66.2, taking into account any regulations made under section 69, and considering any changes to payments made under subsection 77(1) that have been announced by the Minister;

  • (b) the report of the chief actuary to the Commission for that year; and

  • (c) any public input.

• Marginal note:Difference year to year

  (2) The premium rate for a year may not be increased or decreased by more than fifteen one-hundredths of one per cent (0.15%) relative to the premium rate for the previous year.

• Marginal note:Time limit

  (3) The Commission shall set the premium rate for a year on or before November 14 in the previous year.

• Marginal note:Premium rate for 2010

  (4) Despite subsections (1) to (3), the premium rate for the year 2010 is 1.73%.