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Canada Employment Insurance And Financial Support Programs

It is really expedient to learn about Canada Employment Insurance And Financial Support Programs while you may be planning on transit into Canada. Your mind will radiate will high expectations of meeting new people, make new friends and thought of the new work atmosphere.

Employment Insurance

You may be a person yet to secure employment, and still, be able to obtain an Employment Insurance (EI). EI offers you short-term financial support while you plan or improve your skills.

You can also secure an EI benefit if you are:

  • sick, wounded or placed in quarantine for health reasons,
  • pregnant or nursing a newborn or adopted child,
  • caring for a family member whose health condition is life-threatening.

If you are working in Canada, it is compulsory you pay into EI so that you too can enjoy its benefits in a time of need. Usually, your employer will deduct the EI payments from your paycheque.

If you are a self-employed person, you can decide to participate in the EI program. If you want to benefit from EI, you are required to meet certain criteria before you apply.

 

Family Financial Support

The Canada child benefit (CCB) is a monthly tax-free payment provided to eligible families to assist them with the cost of raising their children under 18 years of age. The CCB may include the child disability benefit and related provincial and territorial programs.

The Canada government has other financial support programs offers to people in need. Usually, you must meet certain requirements in order to use these programs. You can utilize Benefits Finder to find out more.

 

Pension Programs

There are designed and regulated pension programs which you can make use of now or in the future, these includes:

  1. The Canada Pension Plan (CPP):
  • It is a program for workers and their families
  • A provider of basic financial protection should you lose income due to retirement, disability, death
  • Which can be paid into by anyone who is working in Canada
  • It is also replaceable by the Quebec Pension Plan (QPP) in the province of Quebec.

2. The Old Age Security (OAS) pension is a monthly payment program that most elderly aged 65 or older can access

3. The Guaranteed Income Supplement (GIS) is a monthly benefit paid to only qualified seniors who live in Canada who also receive OAS and have little or no other income to live on.