Transitional Assistance Program

Funding available

Successful applicants receive up to $35,000 by electing to resign/retire from their current forest sector job and not return for 18 months to work for the same employer, on the same site, or for an affiliated company. The amount a successful applicant receives depends on age and number of years employed in the forest sector.

Maximum amounts are higher for workers who are closer to the program’s minimum age of 60. This is because these applicants are potentially losing more income by resigning/retiring than are older workers. Maximum amounts increase for those who have had a longer continuous period of employment in the forest sector, reaching a maximum at ten years of continuous employment in the sector.

See the Transitional Assistance Program Payout Schedule [pdf, 16KB] for more information on the amounts successful applicants may receive.

Severance payments

If you have received a severance payment from your forest sector employer, or you are expecting to receive severance, please be aware that you are required to tell us about any benefit you may receive. Your Transitional Assistance Program benefit will be reduced by the amount of your severance.

When and how you may receive benefits

Most successful applicants to the Transitional Assistance Program will be asked to decide whether to receive payment in November 2009, July 2010, or divided between those two dates. The only exceptions are those whose 60th birthday falls between November 1 and December 31, 2009. These successful applicants only will be asked to decide whether to receive payment in January 2010, July 2010, or divided between those two dates.

If you have Registered Retirement Savings Plan (RRSP) contribution room available, you may also choose to have a portion or all of your payment deposited directly to your RRSP or spousal or common-law RRSP. To have funds deposited directly to an RRSP, you will need to provide your current Notice of Assessment to show your available contribution room.

Since Transitional Assistance Program benefits are considered to be taxable income, we strongly encourage you to seek out professional financial advice iif you have questions about how and when to receive this funding. Program staff are not able to provide applicants with this type of financial advice.

Employment Insurance

For more information about the Community Development Trust:

• 1-877-238-8882 from B.C. communities outside Victoria
• 250-387-5349 from Victoria
• email: cdt@gov.bc.ca