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Example of Benefit Calculation

By CO Staff @canadaone |

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

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