EI Question

bpoppa85 · #1 01-13-2017, 09:58 AM

Question...So I know a guy who is planning on retiring this year. He's an electrician at a sawmill. I mentioned to him that he shouldn't retire and start his pension, he should quit. Quit and take a job at an electrical construction company so he can take a layoff and collect EI for awhile before retiring. He's been putting into EI for the last close to 40 years why not collect some back. The place he works at will not lay him off. I'm sure this is not exactly kosher. I've been on EI and i know you have to do reports saying were you willing and able to work and such. Anyone done this?.....or let me ask that a different way, anyone "know someone" who has done this?

Thanks

Silvercreek · #2 01-13-2017, 10:01 AM

If he quit would he lose the benefits that would most likely carry on through his retirement?

260 Rem · #3 01-13-2017, 10:08 AM

Scams are scams and I am glad to hear employers won't lay off employees to perpetuate the scam. EI is "insurance" not an investment to be collected. Same thinking would have someone burning their house to recover unused premiums. Shame on all scammers!

bpoppa85 · #4 01-13-2017, 10:17 AM

Quote:

Originally Posted by 260 Rem

Scams are scams and I am glad to hear employers won't lay off employees to perpetuate the scam. EI is "insurance" not an investment to be collected. Same thinking would have someone burning their house to recover unused premiums. Shame on all scammers!

I respect your opinion. You are entitled to it. I have a say if I want insurance on my home. I don't have a say if I want to pay into EI. Just my opinion.

bpoppa85 · #5 01-13-2017, 10:18 AM

Quote:

Originally Posted by Silvercreek

If he quit would he lose the benefits that would most likely carry on through his retirement?

No his only benefits are the pension. Quitting doesn't affect that....it would actually increase his pension by not drawing it as early.

Dacotensis · #6 01-13-2017, 10:31 AM

When I got laid off in 08' I didn't have to file reports that I was looking for work.

purgatory.sv · #7 01-13-2017, 11:07 AM

Quote:

Originally Posted by bpoppa85

No his only benefits are the pension. Quitting doesn't affect that....it would actually increase his pension by not drawing it as early.

No net benefit will be obtained, some pensions have a cap, working longer is not always a benefit to a pension if it’s been max out. If this person has meet the requirements of the pension to qualify for full benefits just go to pension, life is not definitive and if this person is ready just leave.

drake · #8 01-13-2017, 11:10 AM

Quote:

Originally Posted by bpoppa85

Question...So I know a guy who is planning on retiring this year. He's an electrician at a sawmill. I mentioned to him that he shouldn't retire and start his pension, he should quit. Quit and take a job at an electrical construction company so he can take a layoff and collect EI for awhile before retiring. He's been putting into EI for the last close to 40 years why not collect some back. The place he works at will not lay him off. I'm sure this is not exactly kosher. I've been on EI and i know you have to do reports saying were you willing and able to work and such. Anyone done this?.....or let me ask that a different way, anyone "know someone" who has done this?

Thanks

you and your buddy are the type of people society could do without.....

Okotokian · #9 01-13-2017, 11:14 AM

If every person who wanted to retire went on EI for a year, our premiums would have to be WAY higher.

And companies generally don't want to lay you off to facilitate your retirement, since you could turn around and sue them for a huge severance package if you were a long-term employee. Now if you are ready to go and happen to get caught in a general layoff... bonus. Ka-ching!!!! I've known a few who got a six-figure retirement gift.... I'm hoping. LOL

gulfman · #10 01-13-2017, 11:20 AM

You know I would like all my EI contributions go into an account just like CPP so if I ever needed them they are there for me!!! any remainder should be paid back to me upon retirement. Heard to many situations where one has paid in for x number of years but don't qualify to collect. My contributions should go to insurance for me not someone trying to work the system. Work minimum months and jump on EI......repeat. There are legit cases and circumstances but if people choose not to work they should not get the working man's money, they should go out and get a job and start there own EI pot.

bpoppa85 · #11 01-13-2017, 11:35 AM

Quote:

Originally Posted by purgatory.sv

No net benefit will be obtained, some pensions have a cap, working longer is not always a benefit to a pension if it’s been max out. If this person has meet the requirements of the pension to qualify for full benefits just go to pension, life is not definitive and if this person is ready just leave.

He's taking early retirement. So it's extra time towards his magical age 60 number

bpoppa85 · #12 01-13-2017, 11:36 AM

Quote:

Originally Posted by drake

you and your buddy are the type of people society could do without.....

So constructive....I can think of entire industries that in my opinion abuse EI

antlercarver · #13 01-13-2017, 11:37 AM

I would be totally ashamed to even post the idea, let alone do it.

huntsfurfish · #14 01-13-2017, 11:37 AM

Quote:

Originally Posted by 260 Rem

Scams are scams and I am glad to hear employers won't lay off employees to perpetuate the scam. EI is "insurance" not an investment to be collected. Same thinking would have someone burning their house to recover unused premiums. Shame on all scammers!

Agree! I never collected a cent in over 38 years. Was fortunate not to need it!

But was saddened and angry at those that abuse or misuse it!

JB_AOL · #15 01-13-2017, 11:38 AM

FFS...

Sounds like the Easterner mentality..

I suppose you should get all your healthcare premiums back that you "didn't use".

If the difference between him retiring now vs later this year due to his pension reduction for early retirement, is causing him this much conflict/distress that he has to ask a "friend" to ask on a forum.. Sounds like "he" won't be able to live off his pension anyways.

kevinhits · #16 01-13-2017, 11:57 AM

You want to delete the thread? Never should of started it in the first place! Back door shenanigans do not go over well here with hard working individuals that may need EI in the future

purgatory.sv · #17 01-13-2017, 12:00 PM

Quote:

Originally Posted by bpoppa85

Question...So I know a guy who is planning on retiring this year. He's an electrician at a sawmill. I mentioned to him that he shouldn't retire and start his pension, he should quit. Quit and take a job at an electrical construction company so he can take a layoff and collect EI for awhile before retiring. He's been putting into EI for the last close to 40 years why not collect some back. The place he works at will not lay him off. I'm sure this is not exactly kosher. I've been on EI and i know you have to do reports saying were you willing and able to work and such. Anyone done this?.....or let me ask that a different way, anyone "know someone" who has done this?

Thanks

Back to the first post, quitting, and then finding a different job hoping for a lay off doesn’t make sense. Is he ready or not sure of the pension benefits he will receive? Pensions are usually based on years of serves plus age?

The only way your scenario would work is if the mill laid him off, which you indicated they will not, maybe he should change his exit date?

bobtodrick · #18 01-13-2017, 12:01 PM

Quote:

Originally Posted by bpoppa85

I respect your opinion. You are entitled to it. I have a say if I want insurance on my home. I don't have a say if I want to pay into EI. Just my opinion.

Actually no bank that I know of will carry your mortgage if you don't have insurance...and try driving your car without it...see how far that gets you.

bpoppa85 · #19 01-13-2017, 12:04 PM

Quote:

Originally Posted by kevinhits

You want to delete the thread? Never should of started it in the first place! Back door shenanigans do not go over well here with hard working individuals that may need EI in the future

The moderators can do what they want with this thread. I am clearly going to obtain no valuable information from it. If it stays up purely for entertainment value that's fine by me. I enjoy reading it as much as the next guy. I am not going to further defend the question however.

jstubbs · #20 01-13-2017, 12:07 PM

Quote:

Originally Posted by antlercarver

I would be totally ashamed to even post the idea, let alone do it.

x2

bpoppa85 · #21 01-13-2017, 12:09 PM

Quote:

Originally Posted by purgatory.sv

Back to the first post, quitting, and then finding a different job hoping for a lay off doesn’t make sense. Is he ready or not sure of the pension benefits he will receive? Pensions are usually based on years of serves plus age?

The only way your scenario would work is if the mill laid him off, which you indicated they will not, maybe he should change his exit date?

That question is beyond my understanding of his scenario. Personally i have pensions that i have received from working at one company, and then quit and moved onto another. As long as I worked there long enough to become vested I don't lose the pension regardless of if i quit, got laid off, or even fired for that matter. When i retire I am still going to receive an albeit small check from that pension. His is, and mine was, a union environment if that makes any difference. It was an exchange I had with him. In all seriousness I don't think he's going to pursue anything with it. He has lived most of his life modestly to achieve retirement at age 58 and I believe thats what he intends to do. Thanks

purgatory.sv · #22 01-13-2017, 12:12 PM

ok

357Maximum · #23 01-13-2017, 12:16 PM

Back in the eighties when you retired you could draw EI for a year after your retirement.

Laws and times have changed

What sucks is if I return to work after retiring I must pay EI with no hope of ever collecting it

Sneeze · #24 01-13-2017, 12:17 PM

Quote:

Originally Posted by bpoppa85

and mine was, a union environment

And there it is.

Can't say I didn't see that coming last week.

bpoppa85 · #25 01-13-2017, 12:18 PM

Quote:

Originally Posted by Sneeze

And there it is.

Can't say I didn't see that coming last week.

I don't understand what you are getting at?

sakogreywolf · #26 01-13-2017, 12:21 PM

Quote:

Originally Posted by antlercarver

I would be totally ashamed to even post the idea, let alone do it.

x3......unbelievable

gunluvr · #27 01-13-2017, 12:22 PM

He should be entitled to severance if he was laid off, or retired. One weeks' pay for each year of service to the company, to a maximum of 7 weeks pay. Quitting frees his employer from that obligation. I believe that's the law in Alberta.

riden · #28 01-13-2017, 12:54 PM

Quote:

Originally Posted by bobtodrick

Actually no bank that I know of will carry your mortgage if you don't have insurance...and try driving your car without it...see how far that gets you.

EI still is not insurance, it's just a fluffy name. EI is a tax.

People that draw Ei year in and year out, pay the same rates as people who never use it once in their lives.

JB_AOL · #29 01-13-2017, 02:20 PM

Quote:

Originally Posted by bpoppa85

I don't understand what you are getting at?

We're not surprised..

ArtG · #30 01-13-2017, 02:34 PM

Quote:

Originally Posted by bpoppa85

I don't understand what you are getting at?

Retiring from a union collection Pension while working.. Double pay....

I worked with a guy who was a fitter for years then "retired" and worked in the office in sales. So he was collection union pension ans a salary from his job in sales. I know cause he told me him self.

Go Unions Go