(Shutterstock)

Q: I wish to know if qualify for employment insurance coverage advantages (EI). I will probably be finishing a wage continuation on the finish of this month because the financial institution I labored at gave me a bundle. I misplaced my job by way of no fault of my very own. I will probably be getting an organization pension of roughly $4,000 per thirty days commencing June 1. I may also be leaving the nation for 3 months for a deliberate trip. Can I apply for EI once I get again? Would I get EI given my month-to-month pension? I’d admire your recommendation.

—Donna

A: Donna, this can be a query that comes up often. Employer pensions usually represent “earnings” that may cut back your entitlement to EI advantages and have to be reported to Service Canada. These kinds of earnings are deducted out of your EI advantages.

Whereas you’ll be able to apply for EI (if in a position to work and in search of employment), most/or the entire EI profit could be deducted because of the reported pension earnings you obtain. You may delay receiving your pension however you’d then solely obtain as much as a most EI good thing about $547 weekly.

It seems unlikely that you’d obtain EI similtaneously your pension profit however you’ll want to affirm this with Service Canada.

Janet Grey, Ottawa-based fee-for-service monetary planner and cash coach

MORE FROM A MONEY COACH: