What is severance pay?
Question & AnswerWhat is severance pay?
2. Find out if you’re eligible for severance pay
You get only if you've worked at least 5 years for your employer and:
- your employer pays of at least $2.5 million a year, or
- at least 50 people will be losing their jobs within a 6-month period because the business is being cut back.
The rules about severance pay are very complicated. The Ministry of Labour has an online Severance Entitlement Tool you can use to figure out if you get severance pay.