Hooray! Justin Trudeau Government Increases CRB/EI to $500 a Week

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The Justin Trudeau government has passed the legislation for the new recovery benefits. The legislation will match the EI/CRB payments with the CERB at $500 a week. The post Hooray! Justin Trudeau Government Increases CRB/EI to $500 a Week appeared first on The Motley Fool Canada.
Are you worried because the Canada Emergency Response Benefit (CERB) has ended? Worry no more! The Justin Trudeau government has matched the new benefits with the CERB. The Canada Recovery Benefit (CRB) and Employment Insurance (EI), which will replace the CERB, will now pay $500 a week. A few weeks back, the finance minister proposed a weekly benefit of $400, but the legislation increased it to $500. The news benefits went live on September 27 and will remain active until September 25, 2021.

Just like the CERB, you can apply for EI/CRB if you are a Canadian above 15 years of age and have lost your job because of COVID-19. What you need to know is which benefit you qualify for. Back in April, the government brought the EI and EI-like benefits under the CERB. Now it has divided it into EI and the CRB. It is considering to bring EI-like benefits even for the self-employed, contract, and part-time workers.

The CRB versus EI

CRB and EI have many similarities and differences. EI is specific, while the CRB is generic for those who don't have or have exhausted their EI. Both CRB and EI payments are taxable.

Your employer offers EI, in which both the employer and employee contribute a certain amount as premium. You get the EI benefit if you lose your job for no fault of yours. For instance, Air Canada cut 20,000 jobs, as it was unable to sustain the workforce because of the impact the pandemic had on air travel. Those who were available for work and…
Puja Tayal
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