Increase in SISIP deposit.

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Increase in SISIP deposit.

Post by oldsailor on Thu 19 Sep 2013, 14:37

Not sure how many of you that has received there settlement in the pass has notice this or not.
I noticed this morning that my SISIP deposit was $500 more then my last few months. One more thing. I was approved by CPP(D) and they gave me 2 years retro of aprox $28,000.00.
I had not inform SISIP of said payment, however as we all know they will eventually find out. They then started taking a chunk from my SISIP every month until it will be paid out.
Therefore, I'm wondering if in fact I will be the next batch. I assume because they gave me a larger amount on my monthly deposit that I am in fact on the next list.
Now lets just see, If I'm not one of the process batch on the 30th, then indeed my settlement is probably held back. So I'm not sure how long even perhaps last month this was settle, but I am still one of the waiting one's. Its OK if I'm not process for this batch, however it would seem weird if I'm not.

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Re: Increase in SISIP deposit.

Post by zero sum on Thu 19 Sep 2013, 14:49

When were you reinstated? It could be the amount that you were originally cut off at, then once you had been reinstated, it will go up to your normal monthly amount.
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Re: Increase in SISIP deposit.

Post by zero sum on Thu 19 Sep 2013, 14:50

BTW, pay off SISIP with that retro CPP amount...better to do it now than to have any shortages later.
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Re: Increase in SISIP deposit.

Post by teentitan on Thu 19 Sep 2013, 14:56

Don't forget to call the Pension Office as well.  CPP D is deducted from your CF Pension.  It can take up to 3/4 years before the Pension Office finds out then you are in deeper then the $28K you just got.

One more thing about CPP D you set the tax amount to be taken off. The rule of thumb is 10% of your "taxable" income. Just call the CPP number and tell them how much to take off for taxes.
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Re: Increase in SISIP deposit.

Post by Guest on Thu 19 Sep 2013, 14:57

Plus that CPPD is taxable, pay sisip back ASAP to get the tax credit or this year your going to be paying

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Re: Increase in SISIP deposit.

Post by zero sum on Thu 19 Sep 2013, 15:23

Very true Nav...I don't get CPPD, when I tried it was too difficult to get and I'm appealed out. Hopefully SISIP won't badger me to reapply. All I know is that if you owe SISIP any money, it's best to pay them off as quickly as you can. Should be that if you served your country, you should be entitled to at least live tax-free for the rest of your life...maybe in a perfect world, or Sapper's new country.
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Re: Increase in SISIP deposit.

Post by Guest on Thu 19 Sep 2013, 15:31

Better idea, Sapper could afford to pay all veterans taxes!

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Re: Increase in SISIP deposit.

Post by zero sum on Thu 19 Sep 2013, 15:40

Yea, with just his pocket change.
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Re: Increase in SISIP deposit.

Post by Guest on Thu 19 Sep 2013, 15:55

Sapper might not use bills, just gold bullion!

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Re: Increase in SISIP deposit.

Post by Guest on Thu 19 Sep 2013, 16:09

zero, when someone applies and appeals for cpp d what is the situation when one was medically released 7 years ago, person never worked due to illnesses, what is the position or recourse someone would have in that scenerio if applying for cpp d for the first time. Thanks.

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Re: Increase in SISIP deposit.

Post by zero sum on Thu 19 Sep 2013, 16:32

As long as you've never applied, you could probably do so now retro-actively. It used to be that way, but the rules always change. I do believe though if you have a justifiable reason for not applying at that time, you might be able to get the full retro. Since we all basically received either SISIP or ELB, VAC and/or CFSA...some people just don't bother applying for it. Kinda like when some members never applied for SISIP due to their VAC being too much and it would just offset to zero. It's always worth giving it a shot, you never know the benefits of applying at any date. Rex is probably the best source for this info, I believe he brought it up previous...the guy is our own personal library of solid information. Smile
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Re: Increase in SISIP deposit.

Post by Guest on Thu 19 Sep 2013, 17:13

Thank you so much. It isn't for me but for someone dear to me. Thank you zero.

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Re: Increase in SISIP deposit.

Post by zero sum on Thu 19 Sep 2013, 20:00

YW birdy...how's your new cage coming along? Think Sapper can help by hiring around the clock shifts of construction teams?
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Re: Increase in SISIP deposit.

Post by Guest on Thu 19 Sep 2013, 20:27

Looking like a sitcom show Disaster DIY lol....

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Re: Increase in SISIP deposit.

Post by zero sum on Thu 19 Sep 2013, 20:47

LOL...soon enough Miss Birdypenny.
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