[NefCanuck]

NOS2Go4Me,Dec 29 2008, 12:24 PM Wrote:What I would be really interested in knowing is what percentage of the 85% is E.I. and what percentage is SUB. :)

A cost is a cost is a cost, regardless of whether it was negotiated or if it's even mandated by the government (not that it was, just saying is all). No matter how you come around to spending the cash, spending the cash when you don't have any isn't a smart scenario and obviously weighs on the company's debt load.
[right][snapback]278861[/snapback][/right]

I can actually speak to the SUB program as our office is also unionized (OPSEU) and I was involved in the negotiations to alter it many years ago now (to our detriment as it turns out now but WE)

In our case the top up from the max 55% of EI is to 75% of our gross pay (Unless its maternity leave, then it rises to 85%. All taxed and the office has to advise HRDC (Human Resources Development Canada) of any changes year to year.

The bigger problem is why these SUB programs came to be and how their costs have risen over time. That has everything to do with the fact when the old unemployment insurance program was gutted by the Feds in '93 and changed to "Employment Insurance" and did such wonderful things as lowering the maximum entitlement to 55% and raising the hours needed to qualify in the first place (not to mention the fact that if you draw on EI more than once during a set period the percentage you get is chopped, eventually down to 50%) <_<

NefCanuck