What the EI premium freeze means for you

Both low and high income earners will pocket a little more cash each paycheque.

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  • The government will freeze the EI premium rate for employees at current levels  ($1.88 per $100 of insurable earnings) until the end of 2016, Finance Minister Jim Flaherty said Monday. For low income earners, that means payroll tax savings of $24 per year, Ottawa says. For anyone making more than $48,600 it means paying an additional $22.58 as oppose to $46.56. Our friends at Maclean’s have more on what the freeze means for employers and government coffers in their story, EI premiums freeze: A quick guide.

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