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How much will I receive?
Eligible individuals may receive a WEPP payment to compensate them for unpaid wages, vacation, severance and termination pay (earned during the previous six months but not paid or taken).
A maximum payment of equal to four weeks of insurable Employment Insurance (EI) earnings (approximately $3,323) minus amounts prescribed by regulation may be issued. These amounts include any amount already paid to you from the bankrupt estate, and are subject to a reduction (offset) of 6.82% prescribed by the WEPP Regulations. The WEPP offset does not represent amounts that were remitted for EI and the Canada Pension Plan on behalf of the employee; therefore, no T4A will be issued for that reduction (offset).
If your application is approved, you will either receive a cheque at the mailing address you indicated on your application form, or the payment will be deposited directly into the account you provided.
