# Cash in an RRSP while on EI ?



## Ottawaman (Jan 16, 2005)

Hi,
I need a little information here.

Does anyone know what would happen to your E I benefits if you cashed in an RRSP while on a claim?

Would E I deduct the value of the RRSP from your weekly benefit?

Any links that prove what the Ontario government stipulates officially would be most welcome.

I guess I am wondering if cashing in an RRSP is considered earnings?


Thanks,
OM


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## adagio (Aug 23, 2002)

Sorry, no link. I believe it's only employment income that counts.

Having said that... be aware at tax time if your income (including RRSP) is over a certain limit your IE payments will be clawed back.


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## Ottawaman (Jan 16, 2005)

Thanks for the info,

Yes, I am trying to distinguish what the term employment income means to them.
They always warn you to declare any and all forms of income.


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## gordguide (Jan 13, 2001)

It's savings, not employment income. They are only interested in money paid to you for employment during the claim, not money paid sometime before and turned into savings of some kind.


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