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 eligibility period.
A maximum payment equaling up to four weeks of insurable Employment Insurance (EI) earnings ($3,907.68 for 2016).
The WEPP payments are subject to a reduction of 6.82% prescribed by the WEPP Regulations. The WEPP reduction 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.
Your payment will be further reduced by any amount that you receive from other parties with respect to eligible wages after the date of bankruptcy or receivership.
If your application is approved, you will either receive a cheque at the mailing address indicated on your application form, or if you provided your account information for direct deposit, the payment will be deposited directly into your account.
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