Options to consider for Members faced with financial challenges

Downturns in employment are not unusual in the motion picture industry and no one knows how long this one is expected to last. The Committee is exploring all possible alternative options to assist members during this difficult time.

If you are struggling with financial challenges, there are some options that may help you, such as:

  • Applying for employment insurance benefits as soon as possible
  • Applying to the AFC for emergency funds. You do not have to pay them back
  • If you are a renter, please review the Landlord and Tenant Board rules and speak to your landlord
  • Talk to your bank, mortgage holder and utility providers about payment options including consolidation
  • Talk to a credit counsellor
  • Check your member/employee assistance plan
  • Check with your Union or Guild office for any assistance they may offer through your membership
  • Access your TSFA and other voluntary savings

As you may know, each Union/Guild has its own Collective Agreement with the employers governing Group RRSP contributions. In light of these contractual obligations, the CEIRP Retirement Committee is maintaining the current withdrawal criteria, restrictions and waiting periods on employer contributions. As a last resort, Members can withdraw voluntary RRSP contributions. Note that tax would automatically be withheld on these withdrawals at the following rates and the amount withdrawn would be added to your overall income for the year:

All provinces except Quebec – Federal
Up to and including $5,000: 10%
$5,001 to $15,000: 20%
In excess of $15,000: 30%

For Quebec only – Provincial
Up to and including $5,000: 14%
$5,001 to $15,000: 14%
In excess of $15,000: 14%

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