Help me understand

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Help me understand

Post by prawnstar on Thu 14 Aug 2014, 12:26

I just got a call from the DND pension people. I have applied for retroactive early indexation due to disability. From what I understand if approved I will get retro pay for 21/2 yrs. I also found that if I get CPPD which I have applied for this will be deducted from my military pension and ELB. So I would owe thousands to both? I am so confused with this shit. I was told I was a special case because of these circumstances. Can anyone shed some light on this? I know if I don't get CPPD then I will get much less when I turn 65. But if I get more because of CPPD will this be clawed from my CF pension. I know that OAS affects your pension but it seems anytime you think you are doing the right thing and you may get a few extra $$ you get screwed. I feel like I am going in circles. Get more from this pot give it to that pot and around and around we go. It so soooooo confusing. Every time I get a call like this my head hurts and I get anxiety attacks.

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Re: Help me understand

Post by pinger on Thu 14 Aug 2014, 15:28

Some others here are much more knowledgeable but I'll try my 2 cents. I'm also looking at CPPd. I only want to get approved so my prior contributions get locked and do not keep deteriorating to age 65. I don't want their money. If CPPd plays tit for tat with ELB, so be it, as long as what I paid into CPP is safe and locked so the slimeballs don't steal it.
I'm assuming... my current month to month $ would not be up or down. Just my 2 cents... which they better keep their paws off... pinger.
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Re: Help me understand

Post by Guest on Thu 14 Aug 2014, 16:20

hey prawn pinger is right it all evens out bud if you get CPPD . the only difference it can add up to more at 65 and can be even more if you have kids.

yup getting started may be a pain paying this and that but if you hold on to your retro until this is done it will be relatively quick and painless. buds you are going in the right direction keep on truckin and you will get there.

best of luck

propat

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Re: Help me understand

Post by RobbieRoyal on Thu 14 Aug 2014, 18:12

Not trying to be funny PS but when or if you get this allowance then inform the CFSA Pension office and Manulife ASAP or you will get soaked even more, one other thing my friend apply for DTC ASAP this is yours no one takes it.
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Re: Help me understand

Post by teentitan on Thu 14 Aug 2014, 20:53

Good advice for you here prawnstar. But have to re-state what RR said CALL CF PENSION OFFICE AND SISIP IMMEDIATELY.

Don't spend any retro money from CPPD until you pay SISIP and CF Pension.
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Re: Help me understand

Post by prawnstar on Fri 15 Aug 2014, 00:14

OK thanks guys. I am not collecting SISIP just VAC benefits. So I'll have to pay back ELB and CF pension but does it all balance out or will I be short changed at the end of the day. So confusing but I guess it will be worth it in 5 years when I turn 65.

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Re: Help me understand

Post by Guest on Fri 15 Aug 2014, 08:06

like I said it will never short change you. you will come out even at worst ahead if you have kids. and at 65 you will be ahead.

propat

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Re: Help me understand

Post by RobbieRoyal on Fri 15 Aug 2014, 08:15

hey PS I ended up owing over 2000 outta pocket because the clowns at CF Pensions Office took their sweet time, mind you I was back dated 15 months but still keep on those pricks.any doubts call asap
1-800-267-0325
also
Director, CF Pensions Services 8-2
NDHQ
Albion Tower
25 Nicholas Street, 11th Floor
Ottawa On.
K1A OK2
1-800-719-4043
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Re: Help me understand

Post by loggie on Fri 15 Aug 2014, 09:18

Now I am confused. How does CPPd help after age 65?

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Re: Help me understand

Post by Trooper on Fri 15 Aug 2014, 10:34

I think to simplify the issue at hand, and or if one is confused, they should contact the CF PENSIONS,
these individuals who answer the calls were always helpful to me, the are extremely knowledgeable
in explaining the subject at hand, and for the most part can explain it in plain English.

Robbie has provided the contact number.



Last edited by trooper on Fri 15 Aug 2014, 18:51; edited 1 time in total (Reason for editing : Transfer bottom half to another thread.)
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Re: Help me understand

Post by Guest on Fri 15 Aug 2014, 13:14

loggie they do your calculations for CPP braced on what you have payed in to it ,for how many years, how many years you payed the max ect. the more years your not paying into it the lower your CPP can be if you go a very long time it can add up to nothing or next to nothing.

when you are on CPPD your CPP calculations will be in effect frozen from the time you start to the time it ends. so if your calculations for CPP give you the max when you stopped working and you were on CPPD from that time to the time you hit 65 no matter how many years you will get the max.

hope this helps

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Re: Help me understand

Post by RobbieRoyal on Fri 15 Aug 2014, 16:05

absolutely correct when i was released medically i could not work and since i did not collect CPPD or DTC i relied on my CFSA Pension and VAC but after being put on LTD Manulife I applied and was back dated 10 years on both CPPD and DTC since I paid the max as a CF member and back date my CPP will not be effected drastically due to not paying those years I did not contribute mean I will get a few more shote nickels when I turn 65 ( no penalty for not contributing)
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Re: Help me understand

Post by RobbieRoyal on Fri 15 Aug 2014, 18:42

I stand corrected only 15 months CPPD but it was noted on my contribution assessment that I was unable to contribute due to being on LTD (Retroactive to 2003 time of release)(due to my LTD reinstatement i am not being penalized down due to non-contribution years) in a nut shell all that happens is that at 65 you automatically transfer over to OAP and this process is smooth not so painful had you not applied for CPPD.
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Re: Help me understand

Post by prawnstar on Mon 18 Aug 2014, 11:24

When you turn 65 and CPPD ends and OAS and regular CPP starts does all that get clawed back from your CF pension?

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Re: Help me understand

Post by teentitan on Mon 18 Aug 2014, 11:28

Yes. Your CF pension is reduced when your OAS/CPP starts at age 65
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