Canada Employment Insurance Financing Board
The Canada Employment Insurance Financing Board (CEIFB) is a Crown corporation of the Government of Canada. As a parent Crown corporation, under Part X of the Financial Administration Act, CEIFB reports to Parliament through the Minister of Human Resources and Skills Development.
Mandate
Canada’s employment insurance program supports Canadians during periods of unemployment. The program is funded through the contributions of Canadian employers and employees. Our task is to set EI premiums in a transparent way and to temporarily hold and manage any surplus EI premiums that accrue from January 1, 2009, onwards-ensuring the financial sustainability of the EI program.
Corporate Objectives
1. Develop appropriate corporate structures and policies:
The CEIFB will strengthen its corporate governance by finalizing and implementing its Code of Ethics and Conduct and developing detailed conflict of interest procedures.
2. Establish the necessary human resources:
The CEIFB will appoint a Chief Actuary, recruit additional staff and develop an HR management framework.
3. Fulfill legislated mandate:
The CEIFB will set the EI premium rate for 2011, establish an independent review of the Chief Actuary’s methodology, develop a risk-management framework, and begin to put in place investment policies, systems and procedures to enable the investment of funds(once they are received).
4. Develop a robust reporting system:
The CEIFB will ensure that all of its statutory reporting requirements are met, and develop a Corporate Plan for the 2011-12 fiscal year against which future performance can be measured and reported.
References
Retrieved from : http://en.wikipedia.org/wiki/Canada_Employment_Insurance_Financing_Board
