EI System is Unbalanced, former Head Actuary Charges

EI System is Unbalanced, former Head Actuary Charges

Postby CLS » Thu Jul 23, 2015 5:05 pm

Differences in the amount and duration of EI benefits based upon location and the number of hours worked result in significant inequalities in benefits that are received, accordingly to Michel Bédard, the former head actuary for the program. His latest study echoes previous criticisms of the EI program. Comparing two workers earning the same weekly wage who lose their jobs at the same time--one in Cape Breton and one In Saskatoon--Bédard reveals a significant disparity in available benefits. The Cape Breton worker would only have to work 12 weeks before becoming eligible for a benefit $264/week for up to 30 weeks. In contrast, the Saskatoon worker would have to work 20 weeks in order to be eligible for a $280/week benefit for a maximum of 14 weeks.

For the full story as reported in the Globe and Mail, visit its website at http://www.theglobeandmail.com/report-on-business/economy/jobs/unbalanced-ei-system-is-failing-canadians-former-chief-actuary-says/article25638568/.
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