| Issue: |
Sub-Issue 1: |
Sub-Issue 2: |
Sub-Issue 3: |
| earnings |
severance pay |
as income |
|
Summary:
Received $16,140 as severance pay after his position was eliminated. This amount was placed in an RRSP. Umpire found that the fact that the claimant had decided to invest this amount in an RRSP did not change the provisions of the Regulations. The purpose of the payment for termination was to indemnify the claimant for the monetary consequences of early retirement; the amount paid thus came from employment. The BOR thus committed an error in fact and in law in deciding that the amount did not have value as earnings.
