Might Lose My Job!

[Garpo]

It used to be that you had to actively seeking a job in order to draw any unemployment benefits. Not sure they will pay you anything if you relocated to the Philippines.

[i am bob]

I just lost my job too... That's going to delay my coming by the looks of things as well! One last bill to pay off and then I'm on my way... Unfortunately, because I have my military pension, I just don't qualify for EI (employment insurance) here in Canada - even though we Canadians pay our own way on that. So now I'm back to looking for another job so I can get that last bill paid off! And then off to Heaven!!!Bows, I feel for you! If I was in your shoes, I'd sell everything, cash in the 401k and then drop it all into investments - except for enough to get your butt to the Philippines and to live on until you get your first return. You won't need to touch any of the money invested because the return off of your investments will give you a very nice income for each year! Anybody else got a cool mil sitting around they don't want? :hystery:

[Jack Peterson]

Unfortunately, I am not getting laid off - I will be getting an indefinite suspension that could be stretched out for months, even years... so essentially they will be letting me go. I don't know if I qualify for unemployment - haven't gotten that far yet.

BOW! I am now very confused, To me, call me stupid if you like, there are only a few ways to LOSE A JOB.1. Resign2. Made Redundant.3. Get Suspended and eventually Sacked.Now you say, that you will have an Indefinite Suspension. To me this smells of wrong Doing, after 25 years, sorry, I don't buy this, Can you explain to me (Others I guess too) what you mean by "Letting You Go" Surely this is a Redundancy Situation.After 25 years, there will be a Package for Redundancy.If there is Gross Misconduct, Your Company will have a Grievence procedure to follow. (They can't leave you in Limbo)If there is a court case, then the Suspension has to be on FULL pay. (Innocent till proven Guilty)Maybe if you were to explain the exact Story, I for one, might be able to see the light at the End of the Tunnel. One thing for sure, You will not get any Unemployment Benefit as long as you are still Employed.So my friend, come on, tell us all so we can offer some help, if we can.Jack P.

[Dave Hounddriver]

Unfortunately, because I have my military pension, I just don't qualify for EI

Are you sure about that? I ask because I looked into it when I retired and they were not going to take my pension into account as it is not considered 'earned income'In effect, I was able to (did not do it but know another who did) retire from bus driving, get another bus driving job for a year, get laid off, move to a place in the Yukon where bus drivers are not needed, and collect UIC and pension at the same time and it was all legal. I even checked with a family member working for UIC (or whatever they are calling it these days) and he confirmed it was a legal loophole. Perhaps they have plugged it now.

[bows00]

Unfortunately, I am not getting laid off - I will be getting an indefinite suspension that could be stretched out for months, even years... so essentially they will be letting me go. I don't know if I qualify for unemployment - haven't gotten that far yet.

BOW! I am now very confused, To me, call me stupid if you like, there are only a few ways to LOSE A JOB.1. Resign2. Made Redundant.3. Get Suspended and eventually Sacked.

yeah, unfortunately for me, I think I fall into category 3. But everything is in the review stage at this moment.

[Jack Peterson]

Unfortunately, I am not getting laid off - I will be getting an indefinite suspension that could be stretched out for months, even years... so essentially they will be letting me go. I don't know if I qualify for unemployment - haven't gotten that far yet.

BOW! I am now very confused, To me, call me stupid if you like, there are only a few ways to LOSE A JOB.1. Resign2. Made Redundant.3. Get Suspended and eventually Sacked.

yeah, unfortunately for me, I think I fall into category 3. But everything is in the review stage at this moment.

Ok Bow! sorry to hear this, Without you going into too much Detail, I would say it is a definite catch 22 situation. In the UK and in Spain, Unemployment Benefit is Not payable, when you are still Under Contract, It all Depends on how, you lost the job, as to whether they pay UE. Any hint of misconduct and they put a penalty time on Payment. We have a part called Misconstruin Dismissal, This is where you leave, under Suspension, telling them that you find it Impossible, to Work there any longer. This will force an Enquiry from the Authorities. Of Course, if they are Still paying you, I guess this is not an Option I would take.As I said, The nature of the suspension is the Key, We also have in our Grievance Procedure, The right to be given the Full facts and can be Represented, Union, Collegue, Legal even. Companies cannot just suspend you, without good cause.I think you need some Proper Advice on this, The longer your suspension, the more it may effect your pension Rights too (If you are pensionable )For me, this would be a Full head on Confrontation with my Employer.Go get them matey, You have a Future to look Forward to.Jack P. :cheersty:

[Call me bubba]

I have posted several times with hopes of retiring in the US and living there. And I couldn't wait for that to happen, and this is a case, I should've watched what you wished for. I found out today that there will be good chance I will be losing my job after 25 years of service in a US Federal Government position. I will not bore you with the details, but here is my financial dilema...I have a mortgage:$1750/month with 5 years left to pay off $100K. Condo could be sold for at least $400K.I have approximately $700,000 in my 401KAnd $60,000 cash.My plan? I am thinking of pulling 100K out of my 401K to pay off the condo. That would provide me with rental income of about $1200/month (and I understand the early withdrawal penalty would be huge because I am only 50).Then bolt for the Philippines. At 50 years of age, what are my chances of making it without running out of money? And yes, I will have to tone down big time on the partying.Any suggestions?

Any updates on your situation?