Fiona Martyn, an employment attorney at Samfiru Tumarkin LLP, a Toronto-based employment and labor law firm, recommends bringing your severance payment to the attorney so that it can be sent to the attorney before signing anything. Even if you sign an employment contract after being hired, sometimes the termination clause is unenforceable because the laws during your tenure may have changed. “What [an employment lawyer] What can be done is help you negotiate a better severance payment to reflect your age, service time and location. Severance packages help bridge [financial] The gap is until a new job is found. ” she said.
This is exactly what Michael did (rejected last name for privacy reasons). Michael, who lives in Toronto, lost his job in a major tech company in 2019. “I saw the writing from a wall a mile away,” he said. “I started to keep ducks.” He was disappointed with his proposal for settlement – the company allowed him to do just a few weeks before stock options were vested, so his total compensation plan was much lower than he expected.
Michael immediately went to the lawyer. “from [my lawyer]I was able to get extra severance. “He said. During the one-hour meeting and letter, he paid $500, which was just a fraction of the additional severance he received later.
How to find a job attorney in Canada
You can contact a qualified employment lawyer to contact a regulatory organization in your province or territory, such as the Ontario Law Society or the British Columbia Bar Association. These organizations oversee legal practices and establish standards of competence for lawyers in each province and territory.
When to apply for unemployment insurance
What is EI? EI used to refer to “United NationsEmployment insurance, but the correct term is now “employment insurance”. EI provides income for Canadians who have lost their jobs for up to 45 weeks or just over 10 months. The maximum amount you can receive is 55% of your salary, up to $650 per week.
EI no longer starts when severance payments are received from employers. To qualify, you must be unemployed and have no salary for seven consecutive days and must be terminated without reason. Martyn said you should apply for EI immediately regardless of whether your employer provides severance payments. You can apply on the same day, even if you don’t have the required documents yet. If you do have severance payments, just inform the Canadian service, which manages the EI program, which suspends your EI payments until the end of that period. And if you find another job before that, you don’t need EI.
3 Ways to Prepare for Possible Unemployment in Canada
Kurt Rosentreter, senior financial advisor at Manulife, provides these tips to reduce the potential impact of temporary unemployment.
1. Always keep selling
To prepare for possible unemployment, you need to keep marketing – which can help you find another job quickly, Rosentrer said. The best way is to refresh your LinkedIn profile, get new certificates in your field and stay online. Don’t be complacent about your skills.
