An employee being terminated who has been employed for 35 years may elect to have termination pay transferred to an RRSP without being taxed up to: Multiple Choice $1,500 per year, or part year, of employment prior to 1989 if no pension benefits were vested $2,000 per year, or part year, of employment prior to 1996 0 $2,000 per year, or part year, of employment prior to 1996 and $1,500 per year, or part year, of employment prior to 1989 if no pension benefits were vested