Banking
How Employment Insurance (EI) Works in Canada
How much EI pays in 2026, who qualifies, how long benefits last and how to apply, with the official figures from the Government of Canada.
How much does EI pay in 2026?
Most people get 55% of their average insurable weekly earnings, up to a maximum of $729 a week. The cap comes from the 2026 maximum insurable earnings of $68,900 a year.
| Average weekly insurable earnings | Weekly EI benefit (55%) |
|---|---|
| Top$600 | $330 |
| $800 | $440 |
| $1,000 | $550 |
| $1,325 or more | $729 (maximum) |
Your average is based on your best 14 to 22 weeks of earnings, depending on the unemployment rate where you live. EI is taxable, and tax is deducted from your payments.
Put it into practiceBest savings accountsWho qualifies for EI regular benefits?
You generally qualify if you lost your job through no fault of your own, worked 420 to 700 insurable hours in your qualifying period (depending on your region), and have been without work and pay for at least 7 consecutive days in the last 52 weeks.
You also need to be ready, willing and able to work each day and actively looking for work, keeping a written record of the employers you contact. Quitting without just cause or being let go for misconduct can disqualify you.
How long does EI last?
From 14 up to 45 weeks, depending on the unemployment rate in your region and how many insurable hours you worked in the last 52 weeks or since your last claim.
How do you apply for EI?
Apply online right away after you stop working. If you apply more than 4 weeks after your last day of work, you may lose benefits.
The application takes about an hour. A new claim starts with a 1-week unpaid waiting period, and with direct deposit, payments arrive 2 business days after your EI report is processed.
How can you stretch your money while on EI?
Keep your emergency savings somewhere that earns interest, avoid carrying a credit card balance, and pay at least the minimum on time to protect your credit history.
A high-interest savings account keeps cash available while it earns interest, and a no-fee everyday account avoids monthly fees while your income is lower.
Keep reading
BankingHow Much Should Your Emergency Fund Be in Canada?How big an emergency fund should be (3 to 6 months of expenses), where to keep it, and how much interest it can earn: 2.8% at the best online savings account we track versus 0.48% at the big banks on average.
DebtHow Credit Card Minimum Payments Work in CanadaWhy paying only the minimum takes decades: $5,000 at 20.99% takes 22 yrs 2 mo and $6,697 in interest at a 3% minimum, versus 2 yrs 1 mo at $250 a month.- BankingCanada Savings Rate Report: November 2026The first month after the Bank of Canada’s October 28 rate increase: big banks average 0.48% on savings, the best online rate is 2.80%, and the best 1-year GIC is 3.95%. What changed since October, welcome rates and GICs.
- BankingCanada Savings Rate Report: October 2026Big banks pay an average 0.45% on savings while the best online rate is 2.80%, 6.2 times more. Our October data on savings, welcome rates and GICs, collected before the Bank of Canada’s October 28 rate increase.
Official sources and further reading
- Government of Canada: EI regular benefits, how much you could receive ↗
- Government of Canada: EI regular benefits, eligibility ↗
- Government of Canada: apply for EI regular benefits ↗
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