Retirement Income Security Benefit (RISB)

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Re: Retirement Income Security Benefit (RISB)

Post by Guest on Sun 04 Oct 2015, 14:38

yup the cut off date is July 1, 2025 so I guess as bigrex said work on your claim first and second hope they get rid of that fracking cut off date.

propat

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Re: Retirement Income Security Benefit (RISB)

Post by Guest on Sun 04 Oct 2015, 14:58

oh almost forgot if successful with the pension thing you can then apply for ELB if you get that it will not pay you anything because SISIP is but you would not have to worry about the cut off date.

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Re: Retirement Income Security Benefit (RISB)

Post by Jeanette Sullivan on Tue 20 Oct 2015, 14:35

Thanks guys for all your help . I will try again , you all have given me new hope . I have been on the CSAT site and have been reading all the comments and info . Thanks so much !

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Re: Retirement Income Security Benefit (RISB)

Post by prawnstar on Tue 27 Oct 2015, 12:29

I am not sure if this applies to you but it sure helped me.
http://www.osiss.ca/en/index.html

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Re: Retirement Income Security Benefit (RISB)

Post by nemo on Mon 14 Dec 2015, 15:54

Tho this is not yet approved, when they say 70% of income - will that exclude one's VAC disability pension? Just thinking back to the SISIP lawsuit that deemed VAC pensions were not income.

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Re: Retirement Income Security Benefit (RISB)

Post by teentitan on Mon 14 Dec 2015, 15:58

The RISB is now in effect, it passed in July. As per the PA payment it will not exclude that because of the lawsuit result.
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Re: Retirement Income Security Benefit (RISB)

Post by Vet1234 on Sun 28 Aug 2016, 20:04

I just came across this while researching RISB

Amount of benefit

(4) Subject to the regulations, the monthly amount of the retirement income security benefit that is payable to a veteran shall be determined in accordance with the formula

(A + B) C

where

A
is 70% of the earnings loss benefit to which the veteran would be entitled for the month in which they attain the age of 65 years, calculated as if the benefit were payable for that entire month and not taking into account amounts that are payable to the veteran from prescribed sources referred to in subsection 19(1);
B
is 70% of the permanent impairment allowance, including any increase to it under subsection 38(3), payable to the veteran for the month in which they attain the age of 65 years; and
C
is the total amount that is payable to the veteran for a month from prescribed sources.

PIA is payable for life. EELB ends at 65 and vets can apply for RISB (70% of ELB is what VAC tells us.)
To me this looks like if you apply for RISB, they cut your PIA by 30%?
I'm not sure I understand. Anyone?

http://laws.justice.gc.ca/eng/acts/C-16.8/page-5.html#h-11
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Re: Retirement Income Security Benefit (RISB)

Post by Vet1234 on Sun 28 Aug 2016, 20:05

and what are "prescribed sources"?
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Re: Retirement Income Security Benefit (RISB)

Post by LawnBoy77777 on Sun 28 Aug 2016, 20:23

Everything

CF pension, Old Age Security, CPP

By the time clawbacks apply, no money payable.

Already spoke to 1 vet in this boat recently

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Re: Retirement Income Security Benefit (RISB)

Post by Vet1234 on Sun 28 Aug 2016, 20:33

what about RDSPs and RRSPs?
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Retirement Income Security Benefit (RISB)

Post by LawnBoy77777 on Sun 28 Aug 2016, 20:48

RRSPs are savings (JD Irving NBCA 2012)

RDSP's are purchased so I would hope they count as assets, savings.

I hope to kill off RISB as it is a replacement for SISIP LTD's lifetime benefit that ended in 1995 to save gov money. What stopped them from increasing premiums? Nothing (Somersall SCC 2002).

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Re: Retirement Income Security Benefit (RISB)

Post by nemo on Thu 13 Oct 2016, 13:59

If anyone out there is currently receiving RISB and who was only on SISIP or SISIP with old monthly VAC disability pension (pre 2006), send me a message. I would like to ask you something.

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