EI, CRB and CRCB: 3 CERB Replacements That Pay $500/Week

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There are two main benefits replacing the CERB... You can also build your own with ETFs like the BMO Mid-Term U.S. Investment Grade Corporate Bond ETF (TSX:ZIC).The post EI, CRB and CRCB: 3 CERB Replacements That Pay $500/Week appeared first on The Motley Fool Canada.
On Sunday, the final payment period for the CERB ended. For all intents and purposes, the program is now over. While you can still apply for retroactive payments until December 3, that's only for if you didn't get the CERB when eligible. If you've used up all the payment periods that you were eligible for, then the program is officially over.

That's the bad news. The good news is that the CERB is being replaced by three new programs that pay just as much. Offering $500 a week, these programs are just as good as the CERB. In fact, they may be more valuable. As you're about to see, one of the CERB replacements being rolled out can actually pay more than $500 a week. Among the three of them, almost everyone who got the CERB will be eligible for support.

EI

Revamped EI is the biggest CERB replacement program being rolled out. It's like the old EI you're used to, but with a $500 a week minimum and a lower hours requirement. To get $500 a week, you only need to have worked 120 hours. That makes it easier than it would otherwise be to replace your CERB income with EI. If you worked a lot of hours, your revamped EI could be higher than $500.

CRB

The CRB is a CERB replacement…
Andrew Button
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