Example of Benefit Calculation
By CO Staff @canadaone | June 30, 2001
Example of benefit calculation:
| Annual salary at end of elimination period is: | $44,825 |
| Insured Salary (annual salary taken to next highest multiple of $250) | $45,000 |
| Gross annual DI benefit is 70% of insured salary) =0.70 x $45,000 | $31,000 |
| Less other income you are receiving during the year (example: PSSA, CPP) | |
| PSSA | $10,000 |
| CPP | $8,000 |
| Gross annual DI benefit | $31,000 |
| Less other income | $18,000 |
| Net annual DI benefit | $13,500 |
| Amount of monthly payments($13,500/12) | $1,125 |
| Source: Treasury Board of Canada Secretariat | |
