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If Member Receives a Severance Package
Not all types of payments a member may receive upon termination of employment are pensionable. See section 4.2 Pensionable Earnings (Click Here) and section 4.7 Contributions on Termination Payments (Click Here) for more details. If you are planning to offer a member a complex severance package, you may wish to contact HOOPP before finalizing the terms of the termination agreement to ensure that the terms of the package are consistent with HOOPP’s policies. Failing to do this could lead to problems later, particularly if the terms of the settlement conflict with HOOPP's provisions.
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