For info, the Reg F severance payout timelines are significantly delayed at this time due to volume. At the time of my release appt in Aug 11, the estimate was 8-10 weeks from my date of release. It ended up being 15 weeks just for the review of my file, was processed one working day before Christmas or it would have been another week or so due to holiday down time. It has to be sent by cheque though, no direct deposit. Close to two weeks later before the cheque was in the mailbox, so just over 4 months delivery from date of release. Vacation days buy out took an extra three weeks to make it into the bank as the earlier pay run was missed (that one does come as a direct deposit, processed IAW Reg F pay run timings).
My severance payout was very simple, I didn't have it split into multiple funds, for a number of reasons took it as one lump sum payout. As the weeks added up, the funds I set aside to cover expenses over that two to three months were running pretty dry (retirement employment hadn't yet commenced) so I regularly "prompted " the sign off clk at NDHQ to see if processing had taken place. He advised there has been an exceptionally high volume lately, and the wait I was experiencing was not unusual (would have been good to know that in August). Also if my payout was being transferred to RRSPs or similar package he advised I would likely have encountered further delays of a week or two.
In the end, all is good. At mid January I had my expected payouts, big sigh of financial relief. The narrative above is for the SA of anyone undergoing Reg F release, be ready for a longer wait than than in the past, and plan an extra month or two without having the severance and vacation $ in your hand. Hopefully these new delays are now well explained during current release interviews to allow members to properly plan. It still doesn't compare to the Res F timelines I realize, but there is a sizable delay compared to previous years.
Cheers!
