Feds cut Employment Insurance rate for 2004

Rate drops to $1.98 — a savings of $9.7 billion for employers and employees compared to 1994 rates
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|hrreporter.com|Last Updated: 12/08/2003

E

mployment Insurance premiums will be cut by 12 cents to $1.98 in 2004, the federal government has announced.

This reduction is in accordance with the announcement made in the Feb. 18, 2003, budget and the passage of Bill C-28 in June. Maximum insurable earnings will remain at $39,000 for 2004.