If you lose your job, employment insurance benefits can help fill the hole in your finances. It is useful to know who can benefit from these benefits and how to apply for this temporary replacement income.
Losing a job can seriously upset your financial plans. If you can’t rely on other sources of income, you may be wondering how to pay your bills before finding a new position.
Employment insurance can help you more easily withstand a temporary loss of income. If this is your first time filing such a request, here is some information to help you know what to expect.
Understanding Employment Insurance Benefits
Through employment insurance, Canadians who lose their jobs through no fault of their own can receive benefits. This is particularly the case if you are made redundant or if your job is terminated due to a lack of work. You may also be eligible for benefits if you are looking for work but cannot find work.
Who can receive employment insurance benefits?
To qualify for regular EI benefits, you must meet a number of criteria. You will need to demonstrate that:
- you were in insurable employment
- you lost your job through no fault of your own
- you have not worked and received no pay for at least 7 consecutive days in the past 52 weeks
- you have worked the required number of hours of insurable employment in the last 52 weeks or since your last benefit period, whichever is shorter
- you are ready and willing to work and able to do so
- you are actively looking for work
Can you receive employment insurance benefits if you voluntarily quit your job?
Yes, but only if you can demonstrate that in the circumstances leaving was the only option. This is the case, for example, if you are the victim of sexual harassment or openly discriminated against in your workplace: even if you decide to leave your employer, you may be entitled to employment insurance benefits.
On the other hand, certain situations may prevent the payment of benefits. For example, you will not qualify if you are fired for misconduct, are fired for not complying with the mandatory COVID-19 vaccination policy, or if you lose your job because you are in prison.
How to Apply for Employment Insurance Benefits After Losing a Job
You can apply for EI benefits online, but make sure you have gathered the essential information beforehand. Here are the data you must have before submitting your request:
- your social insurance number
- the surname at birth of one of your parents
- your mailing address and home address
- your banking information (to sign up for direct deposit)
- the name and address of all employers you worked for in the past 52 weeks, the reasons you stopped working for them, and the dates of each employment
- your detailed explanation of the facts related to your job loss
- information about your highest insurable earnings in the last 52 weeks
When applying, you will also need to provide your email address and phone number. If your claim is approved, you will receive a notice indicating the amount to which you are entitled, the start date of your benefit payments and the duration of benefits. The first payment is usually made within 28 days of the application being approved.
As long as you receive employment insurance benefits, you must submit a report to Service Canada every two weeks. If you earn money while on EI benefits, you must report this on your return. If you don’t, you may have to repay part of the benefits received.
What to do if your application is denied
If your claim for EI benefits is denied, you can request a review of the decision. You must submit your request for review within 30 days of the date Service Canada’s decision was communicated to you.
The outcome of this request will depend on how you present the case. For example, if you provide documents that have not already been submitted or other information that may affect your eligibility, your application may more easily be approved the second time around.
Our tips for coping with job loss
Losing your job is far from pleasant, but the situation will be more manageable if you develop a strategy. Here are some tips for reducing the financial impact of job loss.
- Do not wait to submit your application for employment insurance benefits. If you delay applying too long, you may miss the eligibility period.
- Check with payroll or HR if you will receive severance pay. If this is the case, you will not be able to combine this indemnity and employment insurance benefits simultaneously.
- If you are not eligible for Employment Insurance benefits, find out if you are eligible for other types of benefits. You can use the benefits seeker to find other types of federal, provincial or territorial government benefits that you may be entitled to.
- Take advantage of free resources and tools. Job bankfor example, offers job search tips, labor market information, and a search tool to help you find jobs.
If you lose your job, taking stock of your budget can also help you get more control over your finances. You can use a online calculator to get an overview of your spending and identify areas where you can make cuts until you return to a normal level of income.
This article is intended to provide general information only and is not intended to provide legal, financial or other professional advice. Please consult a professional adviser regarding your particular situation. The information presented is deemed to be factual and up-to-date, but we do not guarantee its accuracy and it should not be considered an exhaustive analysis of the subjects discussed. The opinions expressed reflect the judgment of the authors at the date of publication and are subject to change. Royal Bank of Canada and its entities do not expressly or implicitly endorse the advice, opinions, information, products or services of third parties.
2023-08-17 19:04:08
#Understanding #Employment #Insurance
