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Employee benefits in Canada?

Discussion in 'H-1B Holders in the U.S.' started by Miley11, Feb 12, 2019.

  1. Hi All,

    Can anyone help me understand what benefits Canadian companies offer to their employees and how does it compare to the benefits offered by US companies?

  2. It's too general a question. It really varies from employer to employer.
  3. #3 Copingwithlife, Feb 12, 2019 at 9:56 AM
    Last edited: Feb 12, 2019
    It is comparing apples to oranges. In the States they might offer medical insurance for Dr appointments, tests etc, while in Canada that is MOSTLY, not always, covered by the provincial plan.A friend of mine at their last job had was considered to be gold plated benefits. Over 25 years she never paid a cent to go to the Dentist, while at her current job, procedures are covered 90 percent. Previously all her pension contributions were done by the company, there was no employee match. At her current position, she contributes to the plan, and the employer matches the contribution. So as you can see, within Canada there are differences between employers.Another friend, nothing is covered. No sick time, prescription, pension.. So to compare the two countries as to what benefits are offered would be difficult, since they are two different countries, which people seem to forget. Just as comparing benefits offered in Canada to Australia, or European countries. Different countries, different levels of benefits offered, since in MOST countries basic medical care is provided by the state, versus by private companies
  4. Thanks for taking the time to respond. Kindly allow me to rephrase my question.

    What are the categories of benefits a company could potentially offer to their employee? For example, US companies could offer 401k, Stock options, health benefits, short/long term disability, maternity/paternity leave etc.,

    I do understand that companies may pick and chose what benefits they would like to extend to their employees. Even the same benefits may not be comparable between two companies. I get that. I am just trying to understand the overall categories.

  5. Thanks for the info. Yes, I agree that benefits vary from company to company. The health benefit offered at my current company is different from my previous one.

    I think what I was hoping is that someone would be able to say that ah...a 401K in US is equivalent to XYZ in Canada or may be there is no equivalent at all.
  6. All of those categories are relevant in Canada as well. Generally the larger the employer, the more likely all of these benefits will be available.
  7. Thanks!
  8. Maternity/Paternity leave handled by the Federal Government thru Service Canada which pays a certain amount based upon previous earnings, to a maximum amount. However some companies do a "top up" to what the employee was making while working, so they are not financially penalized by being away. This is NOT done everywhere Sometimes it is a negotiated between parties, or it is part of a companies policy
    For individuals not covered by a top agreement, the basic rate for calculating EI maternity benefits is 55% of your average weekly insurable earnings, up to a maximum amount. As of January 1, 2019, the maximum yearly insurable earnings amount is $53,100. This means that you can receive a maximum amount of $562 per week.
    Miley11 and scylla like this.
  9. Thanks for this.. also, I am curious how much Canadian companies contribute to RRSP on an average? In US contribution to 401k varies between 3-7% depending upon the company.

    Also how much leaves are given on an average in big companies?
  10. Most don't contribute to your RRSP. Vacation times is often based on seniority. 2 weeks-4 weeks is average. Canada has CPP payments plus perhaps private pensions.
  11. Top ops usually come with senior positions as a retention bonus. You have to promise to remain with the company for a certain amount of years after you return or have to pay the top op back. Wouldn't say top ops are typical.

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