Sisip ltd till 65 then what????

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Re: Sisip ltd till 65 then what????

Post by Guest on Tue 11 Dec 2012, 17:25

Peter, peter, what do you think?

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Re: Sisip ltd till 65 then what????

Post by LMFAO on Wed 12 Dec 2012, 02:19

Their life insurance coverage after release is the same I'm covered until 65 and that it!

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Re: Sisip ltd till 65 then what????

Post by Guest on Wed 12 Dec 2012, 07:03

puddleduk2 FYI once ant Vet turns 60 years of age you must start collecting your CCP until age 65 then it stops. If you dont collect at age 60 and say you start at age 62 you just lost 2 years and just get it for 3 years no retro. This is common knowledge and has been say numerous time at SCAM seminars I went to about 20 over my 26 years with the forces to keep updated on how the GOC was going to screw us over I just couldn't get enough of stuff like that it made retirement seem so fruitful. Anyway don't forget to apply i know people that didn't and have lost out.

Chimo

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Re: Sisip ltd till 65 then what????

Post by puddleduk2 on Wed 12 Dec 2012, 07:35

never attended a single scan seminar, never received any pre or post seminars, just left alone with my med's.

it is only mandatory to change from cpp(d) to regular cpp at age 65, not 60 or our choice, already mandated by the government, it will be done for us that are on cpp(d).

i do not get the bridge benefit (clawed back) on my indexed CF pension, but am indexed on cpp(d), they won't be much of a surprise when it does convert over and happen.

unless the govenment raises the age by two years from 65 to 67,

the early start date for those not on cpp(d) for early application is age 60 currently.

my mom applied early and took a 30% reduction to her regular cpp years ago, this is how i know about the reduction at age 60, none at 65 for regular pensioners, and increase at age 70 by 30%.


Last edited by puddleduk2 on Wed 12 Dec 2012, 07:36; edited 1 time in total (Reason for editing : addition of (clawed back))
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Re: Sisip ltd till 65 then what????

Post by Guest on Wed 12 Dec 2012, 08:43

Was you Mom a government employ with a GOV pension if so must be age 60 but i hope that all changes to age 67 even SISIP two additional years before we get cut off.

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Re: Sisip ltd till 65 then what????

Post by puddleduk2 on Wed 12 Dec 2012, 09:08

yes, thank you for asking,

my mom worked in a hospital 40+ years, retired early, not all her years were pensionable with a hospital pension, but all of them applied to cpp in contributions and their final limit payable.

this early application applies to anyone, not just government employees for the age 60 early application for regular cpp,

an age 60 application is definately reduced by 30%, not sure what deduction or additon there is for any years between there and 65, as well the additional % gained each year up to late application up to age 70.
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Re: Sisip ltd till 65 then what????

Post by Guest on Wed 12 Dec 2012, 10:59

I am not talking about applying early anyone can do that even before age 60 if disabled. Gov employees can not receive 2 gov pensions that is why we as retired Gov employees must take it at age 60 you can only get it from age 60 - 65 then it stops. If you don't apply at age 60 and wait until age 65 you will NOT get CCP. period

FYI

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Re: Sisip ltd till 65 then what????

Post by Teentitan on Wed 12 Dec 2012, 11:10

DCHD I think you should check your facts again. At 65 you do get CPP. That is why our CF pension is clawed back when one applies for CPP.

When my CPP D was approved my CF pension was clawed back.

When you apply at 60 you stop this clawback for 5 years. At age 65 your CF pension will be clawed back as per policy.

Everyone in Canada has this option so the GoC could not take this option away from military/RCMP members. Early application allows the applicant to bank an extra $6-10K over the 5 year period.
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Re: Sisip ltd till 65 then what????

Post by puddleduk2 on Wed 12 Dec 2012, 11:21

correct

confusing, but correct

mixing cpp(d) mandatory changing to regular cpp at age 65 and

early application for regular cpp (if not on cpp disability) at age 60 is confusing..
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Re: Sisip ltd till 65 then what????

Post by puddleduk2 on Wed 12 Dec 2012, 11:25

i currently have about $350 taken off each month for being on cpp(d) and having a cf pension at the same time.

cpp(d) once it converts at age 65 to regular cpp will be reduced, not sure by how much. was never given those numbers.

also with talking with service canada office this am, there is no limits to applying for cpp once over the age of 60, goverment employee or otherwise.
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Re: Sisip ltd till 65 then what????

Post by Guest on Wed 12 Dec 2012, 11:28

I believe you lose all of your CCP and or it comes out of your CF pension one way or the other you get $0.00.

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Re: Sisip ltd till 65 then what????

Post by Teentitan on Wed 12 Dec 2012, 11:31

Puddle your CPP D will not/not decrease at 65. It will remain the same. I was directly told this by Service Canada/Rev Canada/and public works.

The reason it does not go down is because we got screwed by having our CF pension reduced at an early age because of CPP D.

IMO having my CF pension reduced at age 46 really sucks. Again my disability reduces my financial security by 19 years and takes away my opportunity to apply for CPP early to take advantage of the extra money for 5 years.
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Re: Sisip ltd till 65 then what????

Post by puddleduk2 on Wed 12 Dec 2012, 11:42

already have the bridge (so called benefit) taken off of my cf pension,

my cpp(d) converts to regular cpp at age 65,

the cpp regular amount will be as if i hadnt been collecting an indexed cpp(d) all along, if it is not further reduced, good.

it wont be zero unless the government pulls Canadian Pension Plan in the duration of my life.

Please call Service Canada 1 800 277 9914, if you have any further questions.

Service Canada does not deal with the CF pension.

They are knowledgeable about the age out conversion at 65 from Canada Pension Plan Disability to the regular Canadian Pension Plan.

As government employees themselves, they should be in the know.
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Re: Sisip ltd till 65 then what????

Post by Nemo on Sun 23 Dec 2012, 13:22

I know that your CPP(D) will convert to a regular CPP rate when u turn 65 (or earlier if u elect 2 do so...but i suspect most would not.)

From my understanding, at age 65.....if u r getting the full rate of CPP(D)....it will be reduced to the level u would normally have gotten based on your contributions when u worked.

If i were 2 turn 65 today, my CPP(D) currently at almost $1200 pm would b reduced to about $500 (based on 17 years service)....of course, OAS will make up a bit of that.

But then my SISIP will also cease at 65 and I can't make up that amount.

I know some here mention SISIP was originally for life. But when did that end? I always thought SISIP was until age 65 ( I got out in mid 90's).
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Re: Sisip ltd till 65 then what????

Post by Guest on Sun 23 Dec 2012, 13:41

nemo i belive that was in 1999.

propat

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