Does ELB get clawed back when your CFSA pension gets indexed?

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Does ELB get clawed back when your CFSA pension gets indexed?

Post by prawnstar on Fri 25 Apr 2014, 13:03

I have phoned the hot line and they said if it is taxable income it is deducted from ELB. Is this true and what do I do as I have already received 4 payments since indexation?

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by Guest on Fri 25 Apr 2014, 14:16

buds I haven't really got into the ELB policy with that regard anyway. I was under the impression that your indexing does not get clawed back I do know for sure SISIP does not. ELB is suppose to mirror SISIP. I will see what I can find later busy doing my taxes.

in the meantime

BIGREX little help????

propat

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by Guest on Fri 25 Apr 2014, 16:08

short answer no indexing does not get clawed back!!!!!



26. (1) The Minister may cancel payment of an earnings loss benefit under section 21 of the Act

(a) if the veteran, at least 6 months after the effective date of a suspension, continues to fail to comply with subsection 25(1); or


(b) if the veteranís eligibility for the benefit or the determination of the amount payable was based on a misrepresentation or the concealment of a material fact.



(2) On cancelling the earnings loss benefit, the Minister shall provide the veteran with written notification of the reasons for the cancellation, the effective date of the cancellation and their rights of review.


27. (1) Subject to subsection (3), the value of variable A and variable B described in subsection 19(1) of the Act shall be adjusted annually on January 1 in accordance with the percentage increase to the Consumer Price Index, rounded to the next 1/4%, for the year ending on September 30 of the previous year to a maximum of 2% per year.


(2) Subject to subsection (3), the value of the benefit referred to in subsection 23(1) of the Act and the amount determined under subsection 23(3) of the Act shall be adjusted annually on January 1 in accordance with the percentage increase, rounded to the next 1/4%, to the Consumer Price Index for the year ending September 30 of the previous year to a maximum of 2% per year.


(3) The adjustment at the source to amounts or benefits payable from sources referred to in section 22 or 23 shall not be considered in the valuation of variable B or amounts determined under subsection 23(3) of the Act.


(4) The Consumer Price Index is the average all-items Consumer Price Index for Canada (not seasonally adjusted) published by Statistics Canada.


SOR/2009-225, s. 9(F).


always question authority

propat

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by prawnstar on Fri 25 Apr 2014, 21:27

OK thanks. I will wait and see. I have been out for 18 years and my pension finally got indexed this year when I turned 60. Almost 500 bucks so I hope they don't come after me six months from now and take it away.

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by prawnstar on Wed 07 May 2014, 18:25

I just received a letter from VAC telling me I owe them $$$$$ because of an over payment due to my CFSA being indexed. So anyone in the same predicament should be careful. Just when I thought I was getting ahead of the game. Typical, you feel good one day cause after 18 years I got my pension indexed then they kick you in the nuts the next day. I saw what propat said but could not tell which section referred to my situation. Bad day, go to the shrink, come home get ragged on and then the letter.

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by Guest on Wed 07 May 2014, 19:31

prawn its part 3 you are getting fracked plain and simple call them and tell them to read their own policy they cannot claw back indexing.

don't get low

get to work

propat

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by Guest on Wed 07 May 2014, 19:57

prawn

here is 22 and 23 they are referring to.

22. The following sources are prescribed for the purpose of the amount of variable B in subsection 19(1) of the Act:

(a) [Repealed, SOR/2012-195, s. 1]


(b) benefits payable under the Canadian Forces Superannuation Act, the Public Service Superannuation Act or the Employment Insurance Act;


(c) benefits payable, other than amounts payable for a dependent child, under the Canada Pension Plan or the Quebec Pension Plan;


(d) benefits payable under any employer-sponsored long-term disability insurance plan;


(e) benefits payable in respect of economic loss under the Government Employees Compensation Act or any provincial workersí compensation legislation;


(f) amounts payable in respect of economic loss arising from legal liability to pay damages;


(g) amounts payable under an employer pension plan;


(h) employment earnings payable while the veteran is not participating in a rehabilitation plan or vocational assistance plan developed by the Minister or where the veteran is participating in such a plan and the sum of the earnings loss payable for a month plus the employment earnings for the month exceeds the veteranís imputed income; and


(i) 50% of employment earnings payable while the veteran is participating in a rehabilitation plan or vocational assistance plan developed by the Minister so long as the sum of the earnings loss payable for a month plus the employment earnings for the month does not exceed the veteranís imputed income.


SOR/2012-195, s. 1;
SOR/2013-157, s. 2(F).

Previous Version

23. The following sources are prescribed for the purpose of subsection 23(3) of the Act:

(a) [Repealed, SOR/2012-195, s. 2]


(b) benefits payable under the Canadian Forces Superannuation Act or the Public Service Superannuation Act other than amounts payable for a dependent child;


(c) benefits payable under the Canada Pension Plan or the Quebec Pension Plan other than amounts payable for a dependent child;


(d) benefits payable under any employer-sponsored long-term disability insurance plan other than amounts payable for a dependent child;


(e) benefits payable in respect of economic loss under the Government Employees Compensation Act or any provincial workersí compensation legislation other than amounts payable for a dependent child;


(f) amounts payable in respect of economic loss arising from legal liability to pay damages; and


(g) amounts payable under an employer pension plan other than amounts payable for a dependent child.


SOR/2012-195, s. 2.


for the purposes of these regulations adjustment is CPI.

DONT LET THEM FRACK YOU

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by prawnstar on Wed 07 May 2014, 19:59

Propat I'm not sure which act you are referring to.

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by Guest on Wed 07 May 2014, 20:02

these are the regulations to the NVC

propat


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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by Guest on Wed 07 May 2014, 20:14

prawn how did your indexing work did they adjust your monthly pension ore give you a lump sum payment as well????

propat

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by prawnstar on Wed 07 May 2014, 20:21

They just added the fore casted 38% increase I was due as a result of my indexation.

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by Guest on Wed 07 May 2014, 20:23

ok THEY CANT TOUCH THAT!!!!! call them back and tell them to sort it out.

propat

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by prawnstar on Thu 08 May 2014, 09:06

OK thanks. I think I will write them so I have a record.When I talk to them I get all confused with all their acronyms and mumbo jumbo. I think maybe it's because of a large % of indexation they thought that was too much but if it had been 1% they would not have jumped the gun. Thanks for the help "Bropat"

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by Guest on Thu 08 May 2014, 09:10

lol no problem I would call and email , a letter is fine as well .

propat

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

Post by prawnstar on Thu 08 May 2014, 09:24

Not sure where to talk about this but did you see the CDS and his dog and pony show on the National last night. The main story about the suicide in Calgary. Why do they keep calling ptsd a mental illness. We are not sick we have a brain injury. No wonder people are afraid to open up cause they are "mentally ill". What will it take for these knobs to start using a more appropriate term like OSI or just a brain injury. No they make us look like we are retards. I wish sometimes I was missing a leg so people would say no wonder he's f'd up he was wounded or injured in the war. No I am mentally ill. It's a dirty word in my opinion. If you want to move this to another thread go ahead. Just my rant for this morning.

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Re: Does ELB get clawed back when your CFSA pension gets indexed?

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