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Difference between revisions of "Quantifying Employment Insurance Benefits (8:VI)"
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Quantifying Employment Insurance Benefits (8:VI) (view source)
Revision as of 23:16, 16 August 2018
, 23:16, 16 August 2018→C. Effect of Earnings
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:The claimants may choose to opt for the “optional rule”. The optional rule allows the claimant to keep the equivalent of roughly one day’s work which is defined as $75 or 40% of the claimant’s benefit rate (whichever is greater) without any deduction to the EI benefit they receive. Any earnings after this amount will be deducted dollar to dollar from the EI benefits the claimant is receiving. | :The claimants may choose to opt for the “optional rule”. The optional rule allows the claimant to keep the equivalent of roughly one day’s work which is defined as $75 or 40% of the claimant’s benefit rate (whichever is greater) without any deduction to the EI benefit they receive. Any earnings after this amount will be deducted dollar to dollar from the EI benefits the claimant is receiving. | ||
:Example from Service Canada Website: | :'''Example from Service Canada Website:''' | ||
:Melissa got laid off when the construction company where she was working lost a major contract. Her weekly earnings averaged out to $800, so her weekly EI benefits are $440. She then finds a part-time job at another construction company where she works one day and earns $160 per week. | :Melissa got laid off when the construction company where she was working lost a major contract. Her weekly earnings averaged out to $800, so her weekly EI benefits are $440. She then finds a part-time job at another construction company where she works one day and earns $160 per week. | ||
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:If she chooses the “optional rule”, she can earn up to the greater of $75 or 40% (176) of her benefit rate, without any deductions from her benefits. Since she only earns $160 per week from her work while on claim, she can keep all of her EI benefits. Under this option, she would take home $600 per week in combined EI benefits and wages ($440 of EI benefits + $160 in wages). | :If she chooses the “optional rule”, she can earn up to the greater of $75 or 40% (176) of her benefit rate, without any deductions from her benefits. Since she only earns $160 per week from her work while on claim, she can keep all of her EI benefits. Under this option, she would take home $600 per week in combined EI benefits and wages ($440 of EI benefits + $160 in wages). | ||
In this example, Melissa would likely choose the “optional rule” if she never worked more than one day per week as she takes home $80 more per week. | |||
:In this example, Melissa would likely choose the “optional rule” if she never worked more than one day per week as she takes home $80 more per week. | |||
:'''Important reminders''' | :'''Important reminders''' | ||