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9) Conclusion

The criteria set out in the Act require the Commission to set the Employment Insurance premium rate by November 14 of each year based on three factors, the break-even premium rate, the report of the chief actuary and any public input.

In accordance with section 65.3 of the Act, it is my opinion that the Employment Insurance premium rates that should generate just enough premium revenue during 2009 to cover payments to be made during the same year are as follows :

1.38% (compared to 1.39% for 2008) is the forecasted Employment Insurance break-even rate for 2009 for residents of provinces with a Provincial Plan;

0.35% (compared to 0.34% for 2008) is the rate of premium reduction granted by the Employment Insurance for 2009 for residents of provinces with a Provincial Plan; and

1.73% (same as for 2008) is the forecasted Employment Insurance break-even rate for 2009 for residents of provinces without a Provincial Plan, which is 1.38% plus the premium reduction of 0.35% granted to Provincial Plans.

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Date Modified:

2011-09-30