| Issue: |
Sub-Issue 1: |
Sub-Issue 2: |
Sub-Issue 3: |
| earnings |
severance pay |
definition |
|
Summary:
Termination Agreement provides for bi-weekly payments over a 7-year period prohibiting obtaining work in any competitive area. Words used by parties not conclusive. Periodic payments classified as pension income. Also, 50% remains payable to beneficiary upon claimant's death. Upheld by the FC.
| Issue: |
Sub-Issue 1: |
Sub-Issue 2: |
Sub-Issue 3: |
| board of referees |
errors in law |
meaning of a term |
|
Summary:
Whether a sum paid is a "pension" is a question of law. O'CONNOR quoted. Another characteristic of a pension relates to the level of control the recipient exercises over the pension fund. The true nature of the monies should be determined. Upheld by the FC.
| Issue: |
Sub-Issue 1: |
Sub-Issue 2: |
Sub-Issue 3: |
| earnings |
income |
nature of monies |
|
Summary:
Whether non-competitive monies payable over a 7-year period amount to severance pay or pension. Words used by the parties are not conclusive. The "true nature" of the monies should be determined and cannot be changed by the language used. Wording used may serve as an indication. Upheld by the FC.
| Issue: |
Sub-Issue 1: |
Sub-Issue 2: |
Sub-Issue 3: |
| earnings |
pension |
definition |
|
Summary:
Whether a sum paid is a "pension" is a question of law. O'CONNOR quoted. Another characteristic of a pension relates to the level of control the recipient exercises over the pension fund. The true nature of the monies should be determined. Upheld by the FC.
Termination Agreement provides for bi-weekly payments over a 7-year period prohibiting obtaining work in any competitive area. Words used by parties not conclusive. Periodic payments classified as pension income. Also, 50% remains payable to beneficiary upon claimant's death. Upheld by the FC.
| Issue: |
Sub-Issue 1: |
Sub-Issue 2: |
Sub-Issue 3: |
| earnings |
income |
non-competitive clause |
|
Summary:
The fact that the Agreement contains a non-competitive clause does not preclude the periodic payments from being classified as pension income, if that is their "true nature". The Board was correct in characterizing the non-competitive allowance as a pension. Upheld by the FC.
