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This enactment amends the method for setting the premium rate in
the Employment Insurance Act. It also amends a number of provisions
in this Act with respect to the Employment Insurance Account.
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This enactment provides that the Employment Insurance Account
shall no longer be an account of Canada. Accordingly, the following
amounts will be paid directly into the Employment Insurance Account,
including
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(a) all the amounts credited to the Employment Insurance
Account - as this account existed immediately prior to the day this
section comes into force - and not charged to this account for the
purposes of this Act on the coming into force of this section;
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(b) all amounts received under Parts I and III to IX, as or on account
of premiums, fines, penalties, interest, repayment of overpaid
benefits and benefit repayment;
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(c) all amounts collected by the Commission for services rendered
to other government departments or agencies or to the public; and
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(d) all premiums required to be paid by Her Majesty in right of
Canada as employer's premiums for persons employed in insurable
employment by Her Majesty in right of Canada.
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The amounts paid to the Employment Insurance Account will
belong to the assets of the Employment Insurance Commission and the
Commission must manage them in the best interest of the contributors
and beneficiaries under the employment insurance system.
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Payments out of the Employment Insurance Account include all
amounts paid as or on account of benefits under the Employment
Insurance Act and the costs of administering the Act.
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The Minister of Finance may require the Commission to pay, by way
of a loan, to Her Majesty in right of Canada an amount or part thereof
that the Commission considers will not be immediately required for the
purposes of the Employment Insurance Act.
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Where the assets of the Employment Insurance Account are not
sufficient for the payment of the amounts that the Commission is liable
to pay under this Act, the Commission may request the Minister of
Finance to grant the Commission a loan, from the Consolidated
Revenue Fund, of an amount sufficient to meet the payments.
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This enactment provides that every year the Employment Insurance
Commission shall cause a report to be sent to the Minister of Human
Resources Development containing its recommendations respecting
the setting of the premium rate and the amount of benefits, if any, that
the Commission considers will, to the extent possible, ensure that there
will be enough revenue over a business cycle to pay the expenses
authorized to be charged to the Employment Insurance Account and
maintain relatively stable rate levels throughout the business cycle.
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The Minister shall cause the report to be laid before each House of
Parliament within the first five days on which that House is sitting after
the report has been received by the Minister.
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Not later than November 30 in each year, the Minister shall set the
contribution rate that the Minister considers will, to the extent possible,
ensure that there will be enough revenue over a business cycle to pay
the expenses authorized to be charged to the Employment Insurance
Account and maintain relatively stable rate levels throughout the
business cycle. In performing this duty, the Minister shall take into
account the recommendations contained in the report of the
Employment Insurance Commission.
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This enactment also amends the Employment Insurance Act as
follows:
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(a) a person who has worked at least 300 hours during her qualifying
period eligible for special benefits;
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(b) maximum weekly insurable earnings are calculated in
accordance with the standards set out in the former Unemployment
Insurance Act;
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(c) weekly insurable earnings are the average insurable earnings of
the claimant for the number of weeks, set out in a table, in which the
claimant had the highest insurable earnings in the rate calculation
period;
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(d) section 15 providing for a reduction in the weekly benefit rate
payable to a claimant is repealed;
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(e) Schedule I (Table of Weeks of Benefit) is modified;
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(f) the concept of a new entrant or re-entrant to the labour force is
repealed;
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(g) the threshold for insurable employment above which employees'
premiums are refundable is increased from $2,000 to $5,000; and
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(h) the portion of earnings, received by an employment insurance
claimant during a period of unemploment that may be retained by the
claimant is amended.
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