If you are terminated from your employment and are not guilty of willful misconduct, and you have enough insurable hours, you are entitled to Employment Insurance. You have to serve a two-week waiting period before you can start collecting.
Webster’s Dictionary defines insurance as “the practice by which an individual secures financial compensation for a specified loss with damage resulting from risk of any sort, by contract with a company to which he pays regular premiums.”
Employers should be wary of fiddling with the truth in order to help a former employee receive Employment Insurance benefits.
As has been reported in this paper, Stelco is undergoing some belt tightening and has offered voluntary severance packages to a number of senior employees. If they sign off and leave their employment, they get a year’s pay and other perks. But, are they eligible for Employment Insurance?