CPPD/SISIP

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Re: CPPD/SISIP

Post by rucksack031 on Wed 21 Oct 2015, 17:44

Hang in there TTT receiving cppd is a good thing for you no more hope other than ensuring ccpd takes taxes off you, your mil pension will go down some, cppd will stay at amount given minus taxes, sisip will reduce the amount of cppd from what you get now on ltd, in the end you wont loose any funds. just ensure that cppd take the correct amount of taxes off you, to avoid taxes at end of year. Big REX can you jump in here Bud, I take me a long time to post, I understand the issue at hand but takes along time to relay. Hang in there ttt others will post, you will be fine.

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Re: CPPD/SISIP

Post by rucksack031 on Wed 21 Oct 2015, 17:50

Hang in there TTT it will all work out you wont loose, it can be confusing for most, but it will balance out, big thing to remember is ensure you have taxes taken off your cppd. Hey big rex can you jump in, I understand the process ttt is facing but it takes me along time to relay, you will be fine TTT other will post.
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Re: CPPD/SISIP

Post by 1993firebird on Wed 21 Oct 2015, 18:30

Why does your Military Pension go down when CPPD deals with CPP? Does it just affect CPP?

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Re: CPPD/SISIP

Post by johnny211 on Wed 21 Oct 2015, 19:01

Hi TTT. About 6 mths ago I was granted CPPD. Rather then SISIP I recieve ELB. So once you now know the back pay from CPPD you have to do the following;
- First bank every cent of it, because now its not really yours;
- Call SISIP and ask them to calculate back to your CPPD award date, the amount you owe them back, because it is subtracted off your montly SISIP amount;
- Next call the CAF # on the back of your pension statement, and ask them to calculate how much you owe them, back to when you where awarded CPPD.
- Leave that back pay, and any other future CPPD cheques in the bank until you get both letters in the mail on how much you owe them both;
- you will see it will be pretty well all the back pay you recieved;
- Then once you get the 2 letters, they will probably start taking so much off your SISIP and CAF cheques a mth until the back pay is paid(but you still have the 17,000 to supplement that amount);
- Then mths down the rd, when your back pay is all caught up, SISIP will deduct your normal mthly amount of your SISip cheque, but you will still recieve your CPPD cheque, so it evens out;

I hope this is not too confusing. It took me awhile and alot of help fm the lads on here to wrap my head around it. Also call CPPD folks back and tell them to take 15%off your mthly cheque for taxes. If you have any more ? . just shot them over. VVV...
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Re: CPPD/SISIP

Post by johnny211 on Wed 21 Oct 2015, 19:07

firebird - At the bottom left corner of your CAF pension statement, which we usually get once or twice a yr. You will see it says an amount of your CAF pension that is the Indexing part. As indexing mostly starts at age 60, and because one is getting there CPPD maybe yrs earlier, then that amount say in my case it said 250.00. So for example if you got back pay from your CPPD for lets say 1 yr back, then that 250.00 indexing amount x 12 =3,000.00
That said you then will owe your CAF pension folks 3,000.00 back. But going fwd for your CAF pension it may even out as you will then be getting the indexing amoung mthly. Sorry if this is confusing, but my head spacing is not lined up , but that is how it goes ..
VVV...
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Re: CPPD/SISIP

Post by 1993firebird on Wed 21 Oct 2015, 21:20

I was not thinking clearly , CPPD is CPP given before the automatic time for a disability so it has the same clawback as CPP at 65 or earlier at 60.

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Re: CPPD/SISIP

Post by Teentitan on Wed 21 Oct 2015, 22:56

A CPP D payment is clawed back from your CF pension. So make sure you call CF pension office an let them know you are in receipt of CPP D.
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Re: CPPD/SISIP

Post by Guest on Thu 22 Oct 2015, 16:12

ok first thing ya should not have signed the letter to pay SISIP directly but that's spilled milk so lets bash on .

step 1.

now as teen mentioned call the CF pension office with your letter from CPPD in hand and let them know whats going on. they will in turn send you a letter .

step 2.

call SISIP with the CF pension letter in hand and explain to them whats going on . they will probably ask for you to send them a copy of that letter so send it .

no need to panic buds this normally all works itself out whatever back pay you get goes out to SISIP and CFSA and your payments going forward will be equal to what you were receiving prior to getting approved .

getting approved for CPPD doesn't generally give you more money monthly well until you hit the age of 65 anyway but at that time you may very well be happy you applied now instead of waiting till 65 and trying to apply for CPPD .

YUP the letter from the CF pension office will probably say you owe them but that is money that SISIP should be returning to you .

it all works out even buds .

when it comes to CRA your past incomes will not change so your assessments will not change so you should not to have to worry about them.

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Re: CPPD/SISIP

Post by 1993firebird on Thu 22 Oct 2015, 17:57

you da man , man. LETTER THIS. lol.

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Re: CPPD/SISIP

Post by Slaket on Mon 07 Dec 2015, 21:16

Little confused on the payback method...in my example the $ values are rounded..

Granted CPPD and it says I will receive around 15000 backpay

Currently......

Receive LTD around 1100 after tax

CF pension says my bridge is 700

CPPD will be 1200 before tax...

1)will my CF pension now drop by the 700? I understand they will calculate how much I owe them for the backpay I am to receive...will I receive one big bill or will they deduct off my monthly pension so much until it is repaid? If so how much are we looking at?

2)Similar question for Manulife..They will calculate how much of the backpay I owe them..
One big bill or so much off of what I believe now will be a very small SISSIP monthly dividend..

3)now that i'm losing the 700 bridge...will LTD make that up?

4)What do you believe the odds are to qualify for the DTC.. I was under the impression that the CPPD was the hardest of them all to be granted...

thanks

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Re: CPPD/SISIP

Post by Teentitan on Tue 08 Dec 2015, 11:21

Question 1. Yes CF pension goes down. One big bill with the option to pay it off monthly (there is a fee which depends on how much) or you can pay a chunk of it or all of it. Your choice. Hard to say how much the amount will be.

Question 2. Yes CPPD is deducted. They will calculate the money owed and let you know. I believe you have the choice of repayment. Also you will get a T4A that you can use on the other deduction portion of your taxes what you pay SISIP back and CF Pension.

Question 3. LTD does not make it up.

Question 4. The DTC is a completely different beast and in my opinion is the hardes to get. CRA has really locked it down.

One very important thing to remember is you set the amount of tax taken off your CPPD. So if you decide to keep it all expect to pay taxes at the end of the year. Or use the rule of thumb of 5 - 15%. You can always adjust it down the road.
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Re: CPPD/SISIP

Post by Slaket on Tue 08 Dec 2015, 11:59

Then question 3 tells me I'm out 700?

If my LTD is reduced by the amount of my CPPD those two cancel out
And I have the 700 clawback on my cf pension..but no compensation
??
Then I'm down the 700?

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Re: CPPD/SISIP

Post by Teentitan on Tue 08 Dec 2015, 12:15

No not really your CPPD covers the deduction of pension and LTD.
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Re: CPPD/SISIP

Post by Slaket on Tue 08 Dec 2015, 12:32

Guess I'm gonna have to wait and see because my math say different.

Now

CF pension. (Aft tax) 2600
LTD (aft tax)  1100
Equals 3700

New
CF pension. 2600 -(clawback)700. =1900
CPPD 1000 - (tax)200.= 800
LTD would have to be 1000 aft tax to equal
3700

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Re: CPPD/SISIP

Post by Guest on Tue 08 Dec 2015, 14:26

LTD can deduct 1900 for your CF pension NOT the original 2600 .

propat

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