Sunday, January 15, 2006

A Frugal Focus Losing Event - EI and CPP

This one, unfortunately, affects every Canadian's cash flow.

While I was elated the 2006 EI rate dropped to 1.87% (from 1.95%) of insurable earnings, saving us all a cool $31.20 annually, the CPP pensionable earnings rose to $42,100 from $41,100 (with no rate change). As a result, the CPP maximum went up to $1910.70 from $1861.20. Though this is a good thing in the very, VERY long run, it will mean that net of 2006 EI and CPP maximums we are all a little poorer.

Total Annual Loss: $18.30
What this means:
Practically, nothing.

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Disclaimer: These articles are for information only, and are not to be construed as financial advice, legal advice, or a solicitation to buy or sell securities.