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How to qualify for EI benefits in retirement in Canada
– moneysense.ca
Ask MoneySenseI’m a 75-year-old male, working part-time and contributing to EI every two weeks; and have for 10 years.
I do have CPP and OAS income.
Do I qualify to collect EI benefits for a period of time if I retire this year? I’ve paid contributions for 10 years and now plan to retire so I should qualify for some remuneration (benefits).
—JM
Getting EI in retirement
Employment insurance (EI) is a program administered by Service Canada that provides both regular and special benefit payments. Workers in Canada contribute to the program through payroll deductions withheld from their salaries. Since 2010, people who are self-employed can make optional contributions and may qualify for special benefits 12 months after your confirmed registration date. Self-employed sole proprietors or partners pay these premiums when they file their tax returns based on their net business income. If you are incorporated and a shareholder that controls more than 40% of the company, the premiums are based on your salary only (not on dividends)…
