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feds-to-announce-pension-hike-for-vets

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Re: feds-to-announce-pension-hike-for-vets

Post by bigrex on Mon 09 Mar 2015, 15:12

The way I read it, will be that they look at everything you are getting before age 65, and then give you 70% of that. So the more benefits you receive, other than ELB, that they include in the calculations, the more it reduces the new benefit. possibly even zero out the new benefit, if they include the PA pensions.

Example 1

2000 ELB
1600 PIA and supp
1500 CFSA
2000 PA pension
800 CPP(D)
= $7900 Gross
- 30%
= $5530 Guaranteed post 65 income.
-1600 PIA and supp
-1500 CFSA
-2000 PA pension
-800 CPP
= -$370 - zero benefit from the new program

So lets look if they exclude the PA pension

Example #2

2000 ELB
1600 PIA and supp
1500 CFSA
800 CPP(D)
= $5900 Gross
- 30%
= $4130 Guaranteed post 65 income.
-1600 PIA and supp
-1500 CFSA
-800 CPP
= $230. that is almost a drop of $1800/mo

Example #3 (same deductions as ELB)

2000 ELB
1500 CFSA
800 CPP(D)
= $4300 Gross
- 30%
= $3010 Guaranteed post 65 income.
-1600 PIA and supp
-1500 CFSA
-800 CPP
= $890. That is a drop of $1100/mo.

Somehow I do not think that this is what was intended as continued support for those after age 65, when they made the recommendations.
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Re: feds-to-announce-pension-hike-for-vets

Post by Guest on Mon 09 Mar 2015, 15:00

forgot an example for the guys on the NVC only .

say 3000 prior to 65 1500 PIA and supplement and 1500 elb. they will make sure you get 70% of the 3000 witch would be 2100. after loosing the ELB you are getting 1500 so your benefit from there would be 600 now subtract the OAS say $563.74 (keep in mind if you have a spouse this max OAS would be higher) your total benefit from this program will be $36.26 !!!!

pleas tell me im wrong on this anyone BULAR!!!!

propat

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Re: feds-to-announce-pension-hike-for-vets

Post by Guest on Mon 09 Mar 2015, 14:30

so if you get 4000 in benefits at 65 1000 of witch is SISIP/ELB they will make sure you get 70% of 4000 witch is 2800 . after losing the SISIP amount you are already getting 3000 .

so they pay you nothing!!!!

so if you get 6000 in benefits at 65 1500 of witch is SISIP/ELB they will make sure you get 70% of 6000 witch is 4200 . after losing the SISIP amount you are already getting 4500.

so they pay you nothing!!!!

so if you get 8000 in benefits at 65 2000 of witch is SISIP/ELB they will make sure you get 70% of 8000 witch is 5600 . after losing the SISIP amount you are already getting 6000.

so you get nothing!!!!!

if you can come up with a reasonable situation where they will pay you something keep in mind the will deduct your OAS witch is varied but I will throw out the maximum monthly payment regardless of marital status amount for an example you can use to deduct from your situation .

its $563.74

DO THE MATH !!!!!

if they eliminate the SRB because of this I WILL LOOSE MONEY!!!!!

theses guys are evil but I didn't think that evil.

I gota be reading this wrong or my math is wrong or both .

someone PLEASSSSS tell me im wrong PLEASSSS .

BIGREX !!! ANYONE!!!!!

propat

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Re: feds-to-announce-pension-hike-for-vets

Post by Guest on Mon 09 Mar 2015, 14:07

im really peed off so maybe im reading this wrong ??? maybe my math is off ????

THIS IS FRACKED!!!!

propat

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Re: feds-to-announce-pension-hike-for-vets

Post by Guest on Mon 09 Mar 2015, 14:04

Apparently more changes are coming, and coming soon.

According to Mr.O'toole The proposed new benefit — which would close that “major gap,” in O’Toole’s words — is one of a series of steps the Conservatives plan to take during the next month to help repair their frayed relationship with the veterans community.

So more changes within the next Month - keep your eyes open for this.

With respect to this latest announcement, I think we would have a better understanding of the benefit, once the fine print is revealed

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Re: feds-to-announce-pension-hike-for-vets

Post by Guest on Mon 09 Mar 2015, 13:49

not the way I read it nav buds you get 70% of all your benefits combined before 65 you loose SISIP and then they will subtract your OAS. its nothing!!!!!

propat

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Re: feds-to-announce-pension-hike-for-vets

Post by Guest on Mon 09 Mar 2015, 13:45

So if you lose sisip ltd at 65 you will get 70 percent of sisip ltd? Teen help us here!

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Re: feds-to-announce-pension-hike-for-vets

Post by Guest on Mon 09 Mar 2015, 13:43

this benefit adds up to nothing absolutely nothing for most people and very little to the ones collecting very high benefits .

DO THE MATH !!!!!!!

propat

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Re: feds-to-announce-pension-hike-for-vets

Post by Guest on Mon 09 Mar 2015, 13:24

pinger right you are but these words have me convinced already this thing sucks but.

this was the next step leading up to the election I talked about before giving a little and spinning it to sound like the greatest thing ever.

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Re: feds-to-announce-pension-hike-for-vets

Post by Guest on Mon 09 Mar 2015, 13:18

Robbie no buds that's not whats happening as ELB is NOT being extended past 65 .

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Re: feds-to-announce-pension-hike-for-vets

Post by pinger on Mon 09 Mar 2015, 13:15

So on the vac website....

http://news.gc.ca/web/article-en.do?nid=945849 and under Quick Facts it says...

... " Monthly payments would be calculated on a case-by-case basis, taking into account how much the Veteran was receiving before age 65 and other sources of income he or she may have beyond age 65. "
Taking into account? Pretty vague to me. Like you Grosgig, I ain't clapping my hands yet.
How will it effect the old pa, pia, oas, gis, or someones cpp? Four-letter words come to my mind... "claw" and "back". That just an assumption on my part until details come about. Time will tell.
Until then, I remain very cautiously optimistic. It ain't enough counting chickens when their hatched... someone might steal them back. pinger.
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Re: feds-to-announce-pension-hike-for-vets

Post by bigrex on Mon 09 Mar 2015, 12:57

So, after 65, they reduce your benefit to roughly 50% of pre-release pay, minus taxes and other sources of income? This is the most convoluted way of following through with one of the recommendations, without actually acting on the actual recommendation. Because now they have to change the actual legislation, to include this new benefit, instead of merely changing the policy to remove the age 65 aspect of the existing benefit, or increasing the current percentages given. What about the other recommendations? I am looking forward to seeing what the reaction will be from the committee and the OVO, over this.
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Re: feds-to-announce-pension-hike-for-vets

Post by prawnstar on Mon 09 Mar 2015, 12:44

Gee Robbie you sound pretty pumped about it. It would be frickin awesome but skepticism is there due to the GOCs track record.

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Re: feds-to-announce-pension-hike-for-vets

Post by RobbieRoyal on Mon 09 Mar 2015, 12:30

About time, So when SISIP says adios amigos at age 65 I will roll right over to ELB as I received a letter from VAC back in 2012 stating that I was eligible to receive ELB but die to my LTD SISIP I could not receive both, so at 65 great news indeed. Something tells me however that SISIP may have to do the same, who knows.
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Re: feds-to-announce-pension-hike-for-vets

Post by Guest on Mon 09 Mar 2015, 11:54

WHAT ????? NOT EVEN A HALF MESURE !!!! SIGNIFIGANT MY BUT !!!!!

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Re: feds-to-announce-pension-hike-for-vets

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