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Supplementary Unemployment Benefit Plan Benefit Details

WHAT AMOUNT OF BENEFITS WILL I RECEIVE?

When you become eligible for benefits under this Plan, you will receive payments calculated in accordance with the terms of the Plan. The weekly payment can be set between $24 and $200, by the Trustees. At present, the benefit is $180. These benefits are taxable, and you will receive a Canada Revenue Agency Form T4A from the Benefits Office after the year end showing the SUB benefits you received during the year.

HOW LONG CAN I EXPECT TO RECEIVE BENEFITS?

You must remain eligible in order to continue receiving benefits from the Plan. The duration of benefit payments will be determined by the amount of the contributions which have accumulated in your personal account. For each $180 payment you receive, the amount left in your account is currently reduced by $60. The amount of the reduction may be adjusted by the Trustees from time to time, based on the financial condition of the SUB Fund. Provided you fulfill all of the other requirements, you are eligible to continue receiving benefits until you no longer have enough in your account to cover another payment.

If you exhaust your account, no further payments can be made until your account builds up to one week of benefit credit.

HOW LONG CAN I EXPECT TO RECEIVE BENEFITS?

Your SUB bank balance is not refundable.

WHEN DOES MY MEMBERSHIP IN THE SUB PLAN CEASE?

Your membership ceases when either of these happen:

  • when membership in Local 46 terminates, or
  • when you retire on pension.

Your SUB bank will then be cancelled automatically. If you are reinitiated within 3 months of your expulsion, your SUB bank will be restored in full. If you return to work after retirement and your pension stops, you may be entitled to collect SUB payments based on the contributions received on your behalf subsequent to your initial retirement, provided you are not collecting pension at the same time.