Add Comment Question: if I am fired with severance pay can I collect e I 5 years employed Answer: You will not be able to receive employment insurance benefits until the expiry of the period for which you received severance pay. That is, if you received 5 months' severance pay/termination pay, you will not collect EI until the expiry of the 5 months. Your Comment * Your Email * Your Name * Your City Note, your name, city and email is not displayed on the website. It is used to notify you that we have approved your comment.