| Issue: |
Sub-Issue 1: |
Sub-Issue 2: |
Sub-Issue 3: |
| earnings |
pension |
definition |
|
Summary:
A 55-year-old claimant accepted the early retirement offer of his employer (Domtar). A lump-sum amount of $45,981 was paid as a bridging supplement to age 65, and was transferable to an RRSP on a mandatory basis. Found to be a compensatory benefit to offset the loss of employment due to technological change, to be allocated in accordance with the Regulations. The FCA upheld the decision of the Umpire, basing its determination on the fundamental characteristics of a pension, namely payments designed to be spread out over the rest of a person’s lifetime, since the purpose of a pension is to provide the means of livelihood to an individual who has departed from the labour market. According to the FCA, the aim of the program was rather to indemnify the claimant for the monetary consequences of early retirement.
| Issue: |
Sub-Issue 1: |
Sub-Issue 2: |
Sub-Issue 3: |
| earnings |
pension |
lump sum |
|
Summary:
A 55-year-old claimant accepted the early retirement offer of his employer (Domtar). A lump-sum amount of $45,981 was paid as a bridging supplement to age 65, and was transferable to an RRSP on a mandatory basis. Found to be a compensatory benefit to offset the loss of employment due to technological change, to be allocated in accordance with the Regulations. The FCA upheld the decision of the Umpire, basing its determination on the fundamental characteristics of a pension, namely payments designed to be spread out over the rest of a person’s lifetime, since the purpose of a pension is to provide the means of livelihood to an individual who has departed from the labour market. According to the FCA, the aim of the program was rather to indemnify the claimant for the monetary consequences of early retirement.
| Issue: |
Sub-Issue 1: |
Sub-Issue 2: |
Sub-Issue 3: |
| earnings |
earnings |
retirement allowances |
|
Summary:
A 55-year-old claimant accepted the early retirement offer of his employer (Domtar). A lump-sum amount of $45,981 was paid as a bridging supplement to age 65, and was transferable to an RRSP on a mandatory basis. Found to be a compensatory benefit to offset the loss of employment due to technological change, to be allocated in accordance with the Regulations. The FCA upheld the decision of the Umpire, basing its determination on the fundamental characteristics of a pension, namely payments designed to be spread out over the rest of a person’s lifetime, since the purpose of a pension is to provide the means of livelihood to an individual who has departed from the labour market. According to the FCA, the aim of the program was rather to indemnify the claimant for the monetary consequences of early retirement.
