Canada Employment Insurance Financing Board
Following extensive public discussion with respect to the need to improve the transparency and independence of EI financing, the CEIFB was created in 2008 as a Crown Corporation to ensure that EI premiums are used exclusively for the EI program.
Through professional stewardship, the CEIFB ensures that EI premiums are set to enable the EI program to break-even over time. The financial analysis of the CEIFB is performed by a team of actuaries adhering to professional standards. Excess premium revenues will be invested by the CEIFB independent of the government.
Directors are selected from a list of qualified candidates with proven financial ability and relevant work experience, as established by an independent nominating committee.
In accordance with Budget ImplementationAct C-45 “Jobs and Growth Act 2012” which received royal ascent on December 14, 2012,the Canada Employment Insurance Financing Board is being dissolved. The closure date is to be fixed by order of the Governor in Council.