What happens to my EI contributions if I never use them? Will they be returned to me when I retire or sooner?

Public Comments

1. They are a tax credit in the year the premiums are paid but like all other insurance premiums they will never be refunded. They are used to pay for the current claims.
2. They will never be refunded to you if you don't make a claim. They are used to fund those who are making claims. EI is not a 'personal insurance' per se... it is a 'group insurance'. The only time you might ever see money back from them is if you overpaid your share of contributions for the calendar year.
3. Nope, they are not returned, any more than your home insurance premiums are returned if you never have a claim. It's insurance, it's not a personal fund.