Top 5 benefits of working in Canada in 2022

Key aspects of the employee benefits in Canada

• Canada is ranked 8^th for its largest economy in the world
• Currently, the country’s unemployment rate is 5.4 percent
• The increase in the wages from $11.81 to $13.00 per hour will be introduced from October 1, 2022
• Work 40 hours per week
• The Mandatory Employee Benefits of Canada are its Pension Plan (CPP) and Life Insurance
• The average amount paid for a new retirement pension is $727.61 per month
• The maximum insurable yearly earnings are C$60,300 and the employee can receive an amount of C$638 per week

 

*Check your eligibility to Canada through Y-Axis Canada Immigration points calculator for free.

 

Canada is a popular destination for overseas job seekers

Canada is considered a home country to all professionals, looking forward to building a career abroad. The reason why this country is known as one of the most popular destinations globally is because it offers;

• Effective ways to find jobs
• Valid work permits
• Dynamic immigration pathways
• Multiple ways for immigrants to become citizens of Canada

The country offers valid work permits and various other facilities for immigrants to become citizens of Canada.

Besides career growth opportunities and better employment, there are multiple factors why job seekers choose this country. Some of the advantages of working in Canada include;

• The unemployment rates are comparatively lower to other nations, particularly among the youth of this generation
• Canada is ranked 8^th for its largest economy, a high standard of living, and is one of the richest nations
• The country is constantly striving and contributing towards quantum computing, space science & technology, and medical advances
• It has a transparent and dependable public finance system that offers exceptional economic independence
• Canada has strong banking systems and financial networks
• The country offers top-notch healthcare facilities, paid leaves, and holidays that include parental and maternal leave to the workers

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Employment opportunities in Canada

In comparison with the other developed countries, Canada’s unemployment rate stands at 5.4 percent, the lowest rate in a long term.

 

The country is relentlessly working on modernizing its technology to make it an ideal destination for individuals who wish to build their careers in sectors of information technology or software development.

 

Areas like engineering, pharmaceuticals, telecommunications, and aerospace, offer a high number of job opportunities.

 

 

*Are you willing to migrate to Canada? Get step-by-step guidance from Y-Axis Overseas Immigration professionals.

 

Mandatory employment benefits in Canada

The following benefits are mandatory and required for any employee who is working in Canada.

• The minimum wages in Canada are expected to be increased from $11.95 to $13.50 on an hourly basis from October 1, 2022
• Canada offers the most affordable healthcare schemes
• Foreign workers along with their dependents can access top-level health care system
• A pregnant woman or someone who has recently given birth, will be granted 17 and 52 weeks of leave based on their years of employment
• Compassionate Care Benefits (CCB) will support the family members who are chronically ill and are at risk of death

 

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Top 5 benefits of working in Canada

Full-time employees, working in Canada have numerous legal benefits based on the province, that includes;

 

Employment Insurance (EI)

The Employment Insurance program is contributed by both the employer and the employee. This program offers temporary income support to those workers who are unemployed, in order to improve their skill set or look for a job.

 

Besides, the EI program provides exclusive benefits to employees who take leave for a specific period because of certain life events.

 

Canada Pension Plan (CPP) for employees

As proposed for the year 2022, you can receive a pension of $1,253.59 as a maximum amount from the Canada Pension Plan (CPP), if you are starting pension at the age of 65.

 

According to the data from April 2022, the average amount paid on monthly basis for a new retirement pension is $727.61. The maximum amount of pension that you should be receiving, will depend upon your situation.

 

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Employment insurance

The majority of the employee’s average insurable earnings for a week have a benefit of 55 percent up to a maximum amount.

 

The maximum insurable earning on a yearly basis is C$60,300 through which, the employee can receive an amount of C$638 weekly.

 

Citizenship in Canada

After working and becoming a permanent resident of the country, you may have better chances and multiple benefits in applying for citizenship in Canada.

 

To apply for citizenship, the permanent residents or individuals with a valid work permit in Canada, have to show the evidence of staying in the country for at least 1,095 days or three years in the past five years. More than 85 percent of permanent residents have become citizens of Canada.

 

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Affordable cost of Living

Canada has an affordable cost of living compared to the developed countries. Housing, gas, automobiles, and food are cheaper depending on the locality you choose to live in. This country has an extremely low crime rate, making it one of the safest places in the world.

 

Willing to work in Canada? Talk to Y-Axis, the World’s No.1 Overseas Career Consultant.

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