Effective 1st January, 2020, the below rates have been adjusted:
Increase In Insurable Earnings Ceiling:
- Monthly: from $256,800 to $280,000 per month.
- Weekly: from $59,262 per week to $64,615 per week.
Effective 1st January, 2020, the below rates have been adjusted:
Increase in Minimum Pension:
The minimum rate for Old Age and Invalidity Pensions will be increased from $32,100 to $35,000 per month.
Increase in Minimum Survivor's Pension:
The minimum rate for Survivor's Pension will be increased from $16,050 to $17,500 per month.
Employers are also reminded to download a fresh copy of the electronic schedule which has the updated insurable earnings and ceilings.
