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Friday, July 23, 2010

FN Mortgage rates as of 23/07/2010

FN Mortgage rates as of 23/07/2010


1 year fixed:   2.70 %
3 years fixed: 3.75 %
5 years fixed: 4.29 %

5 years 5% Cash back fixed: 5.79 %

First National Prime Rate: 2.50 %

Posted by DataTracker Powered by CoolRent

Thursday, July 22, 2010

FN Mortgage rates as of 22/07/2010

FN Mortgage rates as of 22/07/2010


1 year fixed:   2.70 %
3 years fixed: 3.75 %
5 years fixed: 4.34 %

5 years 5% Cash back fixed: 5.79 %

First National Prime Rate: 2.50 %

Posted by DataTracker Powered by CoolRent

Thursday, July 15, 2010

Home Insurance

Home Insurance

Head Out With Your Home Insurance

Enjoying a cappuccino at the Café de la Gare as you wait for your train to Florence…Backpacking to a youth hostel somewhere in Latin America…Stopping for the night in a motel and leaving your vacation luggage in the car…

What do all these situations have in common? Travel, of course! But there is one more thing: if you have the misfortune to fall victim to a theft, your home insurance will protect you, because the stolen items are “personal property temporarily removed from your home”.

Protection that travels with you
When you travel, your home insurance goes right along with your personal belongings, which are covered up to the limit shown in your policy. Your automobile insurance protects your car against damage or theft. But the things carried inside the car are covered by your home insurance, which also covers other people’s property that may be in your possession, for example the camping gear you borrowed for your trip.

There are certain limitations to this coverage. Make a point of checking your insurance policy to find out the details, especially if you will be traveling with an expensive bicycle, a laptop computer, or jewellery. You may need to obtain specific coverage to protect this property to its full value. This additional coverage may include several benefits:
  • lower deductible
  • coverage for the full value of the item (no limit)
  • All Risks coverage
Prevention first
To reduce the risk of misadventure, here is a reminder of a few basic precautions to take during your travels:
o Inside the vehicle: do not leave anything visible in the car’s interior. Hiding your camera under a sweater is a well-known trick. Be extra-vigilant, because these days there are systems that can locate electronic devices anywhere in the car.
  • In the trunk: before you leave, not when you arrive. If you put your handbag in the trunk when you get out of your car in the parking lot, it is easy for someone to spot.
  • Lock your doors. A stop for a red light can be an opportunity for a thief to open a door and take something from the back seat.
  • Train stations and airports: be extra careful. Never let your bags out of your sight for an instant, especially if someone stops to ask you something or you use a bank machine.
  • Take pictures before you leave home. Photographing your luggage (both bags and contents) can be helpful to keep you from forgetting anything if you ever need to make a claim.

So keep your eyes open, and bon voyage!

Insurance: Myths vs. Reality

Insurance: Myths vs. Reality

Insurance: Myths vs. Reality

We shed light on some enduring myths so that you can be sure you have the facts!

Travel Insurance

Life Insurance

Health Insurance

Transporation-related Accident Insurance

Travel Insurance

You really only need travel insurance on long overseas trips.
Jonathan was headed to New York City for the shortest of trips: a weekend jaunt to celebrate graduation from College. He never would have taken out travel insurance, but his parents persuaded him to do so. When his appendix flared up and he found himself in hospital undergoing emergency surgery, Jonathan understood how important the coverage was. It kept him and his parents from having to foot a bill of several thousand dollars for his emergency medical care.

Trip cancellation insurance is only useful for trips purchased way ahead of time.
Diane succumbed to the lure of a last-minute offer and bought an all-inclusive one-week vacation package in Cuba. After two days at the beach, she received news that her house had been badly damaged in a fire; she went home immediately. Thanks to her travel insurance, Diane was reimbursed for the remaining unused portion of her stay. Cancellation insurance covers major unforeseen events occurring both before and during your trip.

If you’re from Quebec and you travel within Canada, there’s no need for emergency medical care insurance.
The Cohens travel to Alberta almost every year to visit the family of Joan, the mother, who was born in this province. As well-informed travellers, they always take out travel insurance. They know that the Quebec public health insurance plan doesn’t cover everything (like fees for a semi-private hospital room, charges for an ambulance, an emergency return home or return of their vehicle, or subsistence allowance in the event that their trip is extended for reasons beyond their control). The reason travel insurance exists is precisely to pay for any unforeseen expenses that may become necessary following a medical emergency.

If you have a chronic illness, you can’t get travel emergency medical care insurance.
Nadine has a heart condition, but she was still able to find an insurer who agreed to conduct a personalized health assessment. Once accepted, Nadine knew she could travel with peace of mind. Emergency medical care insurance can cover complications arising due to a pre-existing health condition.

Life Insurance

If you’re single or a couple with no children, you don’t need life insurance.
For Isabelle and Martin, who recently bought a home, life insurance guarantees that neither of them will be in financial trouble if something unfortunate were to happen to the other. The policy would help to settle funeral expenses, mortgage payments, student loan repayments, and more.

The group life insurance supplied by your employer provides enough coverage.
Besides taking care of her aging mother, Judy now provides for her newborn son. She didn’t hesitate a minute when it came to taking out life insurance. Judy knows full well that if she were to pass away, her employer’s insurance would not be enough to cover living expenses for two people for several years. And if ever she should lose her job, she will at least have her personal life insurance.

Health Insurance

Health insurance is for people who are sick or in fragile health.
Although she is in good health, Lydia didn’t hesitate to opt for this coverage. That way, if ever she is diagnosed with a health problem, she will be entitled to unmatched private care. Health insurance is the best option for someone like Lydia, who cares about maintaining her quality of life, whatever the future may hold.

Your RAMQ insurance provides sufficient coverage.
For people who are retired, like Matthew, or do not work for a company that offers its employees group insurance, personal health insurance is the ideal complement to the services available under the public plan. Quebec’s health insurance does have its limits, and taking out a private policy will compensate for them.

Transporation-related Accident Insurance

Transportation-related accident insurance is strictly for people who own a car.
Nathalie knows that a traffic accident can happen even when you’re on foot: she was hit by a car while crossing the street in Paris. Every mode of travel has its risks, and accident insurance is an invaluable asset in circumstances like these.

Transportation-related accident insurance is useful only if you travel a lot.
Peter sustained life-changing injuries in a very serious highway accident while on the way to work one morning. Imagine his relief when he learned he could rely on his accident insurance coverage for financial support. Accident insurance is a wise choice of protection for anyone.

Tuesday, July 13, 2010


July 2010
Welcome to the July issue of CAAMP Stats. To find out more about CAAMP, visit

Jump to a Section

Bank of Canada Interest Rate Government of Canada Bonds
Bank Prime Lending Rate Total New Housing Starts
Conventional Mortgage - 5 Year Rate Average MLS® Resale Price for Local Markets
US Federal Reserve Board Discount RateMLS® Home Sale Prices
Exchange Rate

Bank of Canada Interest Rate

April 20, 2010 0.25 %
June 1, 20100.50 %
July 20, 2010Next meeting date
Source: Bank of Canada

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Bank Prime Lending Rate

April 21, 2010 2.25 %
June 2, 20102.50 %
July 21, 2010Next meeting date

Source: Bank of Canada

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Conventional Mortgage - 5 Year Rate*

May 12, 20106.10 %
June 16, 2010 5.99 %
July 5, 20105.89 %

Source: Bank of Canada
*Determinant for high ratio mortgage variable qualifying rate

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US Federal Reserve Board Discount Rate

April 28, 20100.00 % - 0.25 %

June 23, 2010

0.00 % - 0.25 %
August 10, 2010Next Meeting date

Source: US Federal Reserve

Top of Page

Exchange Rate $CDN($US)

May 31, 20100.9583
June 11, 2010 0.9673
June 30, 20100.9393

Source: Bank of Canada

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Government of Canada Bonds

Bond TypeMay 26, 2010June 9, 2010 June 23, 2010

1 year Treasury Bill


3 year Benchmark
Bond Yield
2.00%2.10% 1.99%
5 year Benchmark
Bond Yield
2.55% 2.65%2.53%
10 year Benchmark
Bond Yield

Source: Bank of Canada

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Total New Housing Starts (Seasonally adjusted and annualized)



Newfoundland/Labrador 6,0003,300 3,1002,800 3,7002,700
PEI300 400400 5001,400 800
Nova Scotia 3,9003,800 3,6002,500 4,9003,000
New Brunswick3,700 3,4003,600 4,2004,900 4,000
Quebec 55,30043,600 53,70041,100 48,70042,200
Ontario63,200 62,60064,700 36,300


Manitoba 3,8003,500 3,4003,100 4,4003,300
Saskatchewan4,000 2,1004,200 2,9004,300 4,900
Alberta 34,10011,900 35,70012,400 27,30012,400
British Columbia24,900 11,90028,300 11,70024,900 11,200
CANADA 199,200146,500 200,700117,600 189,100128,400

Source: CMHC Housing Now - June 2010 and June 2009. This seasonally adjusted data goes through stages of revision at different times of the the year.

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Average MLS® Resale Price for Local Markets

City May 2009May 2010
Halifax $248,209$264,539
Saint John$188,500 $173,872
Quebec $212,241$238,594
Montreal$273,390 $300,807
Ottawa $312,927


Toronto$395,609 $446,593
Hamilton/Burlington $297,132$315,647
Winnipeg$208,806 $237,697
Saskatoon $279,477$294,516
Calgary$382,632 $417,978
Edmonton $326,332$340,723
Vancouver $583,674$661,745

Source: Canadian Real Estate Association

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MLS® Home Sale Prices

YearCanada BCABMB/SK ONQC Atlantic
2007$307,094 $439,119$356,235$171,609 $299,544$207,530 $158,589
2008$304,971 $454,599$352,857$205,036 $302,354$215,307 $171,258


$465,725$341,201$216,012 $318,366$225,412 $182,640
2010 YTD$342,327 $495,471$353,397$226,918 $349,101$239,890 $196,121

Year VancouverCalgaryToronto Montreal
2007$570,795 $414,066$377,029$229,902
2008$593,767$405,267 $379,943n/a


$385,882$396,154 n/a

Source: Scotia Economics, May 2010

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Canadian Mortgage Broker News - Royal LePage Expects Slower Market

Canadian Mortgage Broker News - Royal LePage Expects Slower Market

Canadian Mortgage Broker News - Royal LePage Expects Slower Market

Royal LePage Expects Slower Market

| Wednesday, 7 July 2010

The residential sector will slow down in the second half of 2010 thanks to "front-loaded" sales in the first half of the year.

The Royal LePage House Price Survey and Market Survey Forecast, released today, predicts that, by the end of 2010, home appreciation will average almost seven per cent year-over-year and home sales will increase by just over one per cent.

"We have seen an unusual pattern of activity in the housing market over the past 12 months, with the market experiencing a surge of activity and price increases that peaked in the fall of 2009 rather than spring," said Royal LePage president Phil Soper. "An expected increase in the supply of homes on the market will now bring stabilization in prices and, in some cities, we will see both prices and unit sales decline towards the end of the year. This should not be interpreted as a severe correction but rather a natural reaction to the market having peaked quite early this year."

According to Soper, home prices will stay consistent or decline negligibly in most of Canada with the exception of energy-producing markets like Alberta.

Home prices in Vancouver were up by an average of 17.8 per cent year-over-year while, in Toronto, prices rose by an average of 9.5 per cent. St. John's, NL also posted sharp increases with prices up an average of 19 per cent.

In the second quarter, the average price of a detached bungalow reached $331, 868, up 9 per cent from last year. Standard two-storey homes rose 8.7 per cent to $367, 835. Standard condominiums averaged just over $230,000, up over 7 per cent from 2009.

First National - Lifestyle

First National - Lifestyle

First National - Lifestyle

5 low-cost ways to update your decor in 2010

5 low-cost ways to update your decor in 2010

Add style and charm to your home without spending a lot of cash. You can borrow from today’s hottest paint colours and trendy expert ideas and, with a bit of your own ingenuity, give a tired room a designer’s touch. Here are five ideas to update your look:

Get the picture.

Hang and display your photos in dramatic or distinctive configurations. Idea: Unite the look of different images by painting all the frames the same colour.

Brush it up.

Adopt one of this year’s hottest colours for a fresh palette on your walls: blue-green, acid yellow, and shades of ocean blue. Don’t skip the prep work (filling cracks, sanding, cleaning, and priming), since these fixes can make any paint job look better and last longer.

Look underfoot.

Instead of using carpeting, consider natural fibre weaves. Sisal, coir, jute, bamboo, cork, and rush are fashionable floor coverings that can be as easy on the eyes as on the environment.

Box in your storage.

Today’s top design experts recommend turning tired-looking storage space into fabulous built-ins. Paint the back wall of your shelving units a bold colour, or install floating glass ledges on a wall or alcove.

Reinvent your furniture.

Get brave and sand and repaint your old dining chairs and table with black semi-gloss paint. For durability, add three coats of polyurethane.
First National - Financing

First National - Financing

First National - Financing


What your credit score means to you

Have you ever checked your credit score? If not, you could be missing out on valuable information that is important whenever you apply for financing. Everyone from your local bank branch to your auto dealer will assess how worthy you are for a loan based on your credit score.

A snapshot of financial health

So what is a credit score? Your credit score is a snapshot of your financial health at a specific point in time. It indicates the financial risk you represent to lenders and your ability to repay debt.

The two credit-reporting agencies in Canada, Equifax and TransUnion, use a scale from 300 to 900 to arrive at your credit score. High scores on this scale are good, indicating lower risk for the lender.

Understanding your credit rating can help you when considering financial options. A higher rating greatly increases your chances of being able to borrow money through financial institutions and qualify for financing at a preferred rate. For example, a healthy credit rating is important if you want to obtain new credit, such as refinancing your mortgage or applying for a loan to buy a new car.

There are numerous factors influencing your score. Outstanding debt, spending patterns, and payment history are all variables used to determine your score.

Making yourself look good

Although your credit score changes day to day depending on your payment habits, there are ways to raise your rating.

  • Pay your bills promptly. Your credit score may reflect delinquent payments or whether a collection agency had to collect an unpaid bill from you. Establish a payment schedule for all your regular bills to avoid missing a payment deadline.

  • Pay in full. Or at least meet the minimum amount required by a lender or a service provider.

  • Limit your credit. The next time you receive a pre-approved credit card application in the mail, be aware that opening any kind of credit will affect your score.

Want to learn more? See the Financial Consumer Agency of Canada for other recommendations.

You can find out your credit score at any time from one of the credit-reporting agencies, Equifax or TransUnion, by purchasing a copy online. You can also request to receive a free copy of your credit report (also called a “consumer disclosure”; this does not include your credit score) by mail – see the Equifax and TransUnion sites for more information.

First National - Market Trends

First National - Market Trends

First National - Market Trends

Market Trends
Open House

Is a housing bubble on the horizon in Canada?

With the U.S. housing crisis still fresh in homeowners’ memories and Canadian housing prices recently posting strong increases, you may be wondering if a housing bubble is forming here. You’ll be happy to hear that there are many positive signs for the housing market in Canada, and there is little evidence that a bubble is on the horizon.

What is a housing bubble?

A housing bubble occurs when a rapid increase in prices leads to houses being overvalued, followed by a sudden market downturn. In most cases, it’s driven by speculation — investors buying property to sell quickly afterward so they can capitalize on short-term increases in value.

Sooner or later, the housing market comes to realize that homes are selling for more than they’re really worth. At that point, the bubble bursts and prices decline. Homeowners may see the value of their home deteriorate. For anyone looking to sell, the bursting of the bubble means a lower sale price.

Contributing factors in Canada

Why have some analysts been warning that a bubble might be forming here? The main reason is the significant increase in average resale home prices through 2009 and into 2010. According to the Canada Mortgage and Housing Corporation (CMHC) in its Housing Market Outlook — Second Quarter 2010, residential resale prices rose from an average of $304,986 in 2008 to $341,893 in the first quarter of 2010, an increase of more than 12%.

However, this increase appears to have been driven by a combination of low prices and low rates. By the end of 2008, as the global recession took hold, Canadian home prices had dropped. Meanwhile, mortgage rates had reached record lows. As a result, homeownership suddenly became much more affordable, and more people entered the market. Increased demand drove home prices up.

At the same time, fewer new homes were being built. Housing starts went from 211,056 in 2008 to 149,081 in 2009, a decrease of more than 29%. With fewer new homes to choose from, potential buyers turned to resale homes, driving demand — and prices — up.

Benefiting from a balanced market

It’s important to keep the recent price increases in perspective. In most markets, prices have simply returned to their pre-recession levels and not posted new highs.

Going forward, CMHC’s outlook is for the Canadian housing market to continue to remain strong. CMHC forecasts moderate price increases ahead, with the average resale home price expected to rise by just 1% — to $345,500 — from the first quarter to the fourth quarter of 2010. Housing starts are expected to decline throughout 2010, which would also support demand for resale homes.

All of these indicators suggest that there doesn’t appear to be a housing bubble on the horizon. If you’re planning to sell your home and buy a new one in the near future, it’s likely that you’ll be able to get fair value for your existing home and buy a new home at an affordable price.

Saturday, July 10, 2010

FN Mortgage rates as of 10/07/2010

FN Mortgage rates as of 10/07/2010


1 year fixed:   2.70 %
3 years fixed: 3.75 %
5 years fixed: 4.34 %

5 years 5% Cash back fixed: 5.79 %

5 years variable: Prime minus 0.50%
First National Prime Rate: 2.50 %

Posted by DataTracker Powered by CoolRent

Friday, July 9, 2010

Réclamation du travailleur

Réclamation du travailleur

Service sécurisé

Réclamation du travailleur

: le formulaire rempli doit être imprimé et envoyé par courrier

Comment procéder

Bienvenue au service en ligne «Réclamation du travailleur».

Ce service s'adresse au travailleur pour :

Demander des indemnités lorsque l'accident du travail ou la maladie professionnelle cause :

  • une incapacité à occuper son emploi pendant plus de 14 jours,
  • une incapacité permanente, physique ou psychique,
  • un décès,
  • une rechute, une récidive ou une aggravation de la lésion initiale;

Demander des indemnités lorsque le travailleur ne reçoit pas de salaire d'un employeur (bénévole, travailleur autonome etc.);

Demander le remboursement de frais médicaux, de déplacement et de séjour pour la première fois;

Demander le remboursement de frais engagés pour la réparation ou le remplacement de lunettes ou d'autres orthèses ou prothèses endommagées au travail.

Note : Vous avez six mois pour faire votre demande.

Votre protection en cas d'accident du travail ou de maladie professionnelle

Marche à suivre

L'utilisateur qui accède au service en ligne inscrit les renseignements nécessaires dans les pages de saisie, les imprime et fait parvenir une copie à la direction régionale concernée en n'oubliant pas de joindre les factures originales, une autre copie doit être remise à l'employeur et la dernière copie doit être conservée par le travailleur.

Ne pas oublier de signer le formulaire avant de nous le faire parvenir.

Vous devez vous assurer d'avoir une imprimante connectée à votre ordinateur avant de saisir le formulaire électronique.

Étape 1 - Identification du travailleur Inscrivez les renseignements relatifs à l'identité du travailleur qui a été victime d'un accident du travail ou d'une maladie professionnelle.

Étape 2 - Identification de l'employeur Inscrivez les renseignements relatifs à l'employeur pour qui vous travailliez au moment de l'accident ou d'une maladie professionnelle.

Étape 3 - Description de l'événement Remplissez cette partie si vous désirez apporter des précisions supplémentaires à la description faite dans l'Avis de l'employeur dont une copie vous à été remise. Remplissez-la également si vous demandez un remboursement de frais d'assistance médicale ou de frais de déplacement ou de séjour.

Étape 4 - Renseignements nécessaires au calcul et au versement de l’indemnité de remplacement du revenu Inscrivez les informations relatives à votre situation familiale et les renseignements supplémentaires demandés.

Résumé Vérifiez les renseignements qui seront imprimés.

Impression Imprimez la version imprimable du formulaire que vous devrez acheminer à la direction régionale concernée en oubliant pas de joindre les factures originales.

Accéder au service

Thursday, July 8, 2010

FN Mortgage rates as of 08/07/2010


1 year fixed:   2.70 %
3 years fixed: 3.75 %
5 years fixed: 4.34 %

5 years 5% Cash back fixed: 5.79 %

5 years variable: Prime minus 0.50%
First National Prime Rate: 2.50 %

Posted by DataTracker Powered by CoolRent
FN Mortgage rates as of 08/07/2010

Wednesday, July 7, 2010

The Insurance Policy for All Quebecers | Accident Victim | SAAQ

The Insurance Policy for All Quebecers | Accident Victim | SAAQ

The Insurance Policy for All Quebecers | Accident Victim | SAAQ

Accident Victim

Table of Death Benefits

For accidents occurring between January 1 and December 31, 2010

Lump sum

  • For a victim without spouse or dependant In the case of an accident victim who leaves no spouse or dependant, $49,372 is paid, in equal shares, to the mother and father of a victim who was a minor at the time of death, or to the estate if the victim was of age.
  • Paid to the surviving spouse The lump-sum death benefit paid to the victim's surviving spouse is established based on the victim's gross income multiplied by a factor varying between 1 and 5, according to age. The maximum qualifying gross income is $62,500. In no case shall the benefit be less than $61,599 or higher than $312,500.

For example: The surviving spouse of a victim who dies at the age of 35 and whose gross annual income was $30,000 will be paid a lump-sum death benefit of $90,000 ($30,000 X 3.0).

Death benefits for accidents that occurred during the current year
Victim's age (yrs.) Factor Victim's age (yrs.) Factor Victim's age (yrs.) Factor
25 or younger 1.0 39 3.8 53 3.4
26 1.2 40 4.0 54 3.2
27 1.4 41 4.2 55 3.0
28 1.6 42 4.4 56 2.8
29 1.8 43 4.6 57 2.6
30 2.0 44 4.8 58 2.4
31 2.2 45 5.0 59 2.2
32 2.4 46 4.8 60 2.0
33 2.6 47 4.6 61 1.8
34 2.8 48 4.4 62 1.6
35 3.0 49 4.2 63 1.4
36 3.2 50 4.0 64 1.2
37 3.4 51 3.8 65 or older 1.0
38 3.6 52 3.6

Paid to a disabled surviving spouse
The lump sum paid to the surviving spouse who is disabled is established according to the victim's age at the time of death, as follows:

Lump sum to paid to a disabled surviving spouse
Victim's age (yrs.) Factor Victim's age (yrs.) Factor Victim's age (yrs.) Factor
45 or younger 5.0 52 3.6 59 2.2
46 4.8 53 3.4 60 2.0
47 4.6 54 3.2 61 1.8
48 4.4 55 3.0 62 1.6
49 4.2 56 2.8 63 1.4
50 4.0 57 2.6 64 1.2
51 3.8 58 2.4 65 or older 1.0

Paid to dependants
A victim's dependant, other than the spouse, is paid a lump-sum death benefit, the amount of which is established according to that person's age at the time of death of the victim.

Lump sum to paid to dependants
Dependant's age (yrs.) Amount of benefit Dependant's age (yrs.) Amount of benefit
Less than 1 year $53,901 9 $40,044
1 $52,361 10 $38,500
2 $50,821 11 $36,962
3 $49,280 12 $35,419
4 $47,739 13 $33,881
5 $46,200 14 $32,341
6 $44,662 15 $30,802
7 $43,120 16 or older $29,258
8 $41,581
  • If a dependant other than the spouse is disabled at the time of the victim's death, he or she is entitled to an additional lump-sum benefit of $25,409.
  • Children of an accident victim who had no spouse will also receive, in addition to their own indemnity, the lump-sum benefit that would have been paid to the spouse, divided into equal shares among them.

Indemnity to cover funeral expenses

  • $4,617 is paid to the victim's estate.

Availability allowance
If the victim was hospitalized and survived the accident for some time, members of the immediate family are entitled to an availability allowance when the presence of a relative was required for medical reasons.

  • $35 maximum for availability of 4 hours or less
  • $70 maximum for availability of more than 4 hours

The SAAQ indexes the amount of most compensation benefits paid on a yearly basis. An updated Compensation Table is available at the beginning of each year.