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Injured veterans to get choice over pensions or lump-sum payments

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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Guest on Thu 21 Jan 2016, 17:39

Very good an interesting points of views by all here...to me they should be looking at reverting back to the lifelong pension an give every Veteran who qualifies for a pension a lump sum amount equal to their first percentage assessment...together with their lifelong pension...the lump sum being a one time benefit.

This would put the Veteran in a better position an would be in my view be a better way to approach the choice Idea.

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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Riddick on Thu 21 Jan 2016, 17:23

Many already know that the lump sum is not near as generous (I hate to use that term.....but it has been used by the VO and Equitas Society) or fair.

Consider......when the MVA/VAC get around to adjusting it so it is fair........it will be a larger sum (well....it should be).....this could fall into the wrong hands and a spending spree happen......but it would just make things so much better to opt for both.....I think Rex touched on it.

Take a portion cash (if needed) and the remainder as an annuity.

Depending on the disability award......the monthly pension might be negligible and make very little difference come the end of the month but a small lump some could be used for a variety of things......pay off a debit card and the outrageous interest rate, pay for a year or two of tuition, get the vehicle fixed plus??, throw it at the property taxes, go away for a much needed vacation and new memories.....etc.

Having cash in hand can allow for things a pension can't.

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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Guest on Thu 21 Jan 2016, 16:39

Riddick said

Having said that....the other side of the coin is: those receiving or about to receive a disability may not have the mental well being or capacity to make a well-informed decision.

and this is my biggest concern over choice .

some guys get physically injured but will not talk about the mental injuries . one of witch is PTSD witch can lead to developing addictions such as gambling and you know the rest .

yup we can set up a lot of procedures and tests to screen who gets to make that choice and we will catch most I suppose but not all. at least a few will fall through the cracks im sure they always do it seems .

then again choice is great it truly is but what's the cost ????

just a few guys . big deal ? not a big deal?

if there is a choice very few will pay for it for the rest of their lives .

if there is no choice a few that would have opted for the buyout would not be able to get it and get a pension for life instead .

ya know kind of a personal opinion thing I guess .

id prefer no choice but not opposed to a choice as long as its done right .

as long as its the PA pension they use as the option and get it done ASAP its all good to me at least a good start anyway.

propat




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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by pinger on Thu 21 Jan 2016, 16:28

Damn it wild thing! You should change your handle to chainsaw man Smile

bigrex, your example of a 5 year baby lumpsum followed by a monthly pension makes sense to me. But here's hoping this GoC's options of flex don't take 5 years to evaluate...

Lot's of variables. A 25 year old at 100% versus an 80 year old at 10% and every blended issue between the two.

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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Ex Member on Thu 21 Jan 2016, 14:56

That's a g5o5 Riddick that's a different release bracket and concessions could be made for that type of release my point was if your medically released g4o4 and bellow you should receive a full medical pension for serving your country as your opportunities have just been diminished.I feel so dissrespected by this countryknowing what i have gone threw and sacrificed and im sure every one on here feels the same and just think of the fat it would trim no need for 90% of vac vrab it would save the tax payers money.

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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Riddick on Thu 21 Jan 2016, 14:35

Not every soldier/veteran needs to be hand-held and babied for everything, the government can't do it and shouldn't do it. At some point people need to take responsibility for their own actions and if they are old enough to join the military one would think they are old enough to make responsible choices. After all these same people made the decision to join the military without duress, many have made huge financial commitments like purchasing a house, vehicle etc.......did the government intervene and make those decision for them......I don't think so.

Additionally; not every veteran/soldier is at the poverty line financially, some are very well off and may choose to use a lump sum to further their children's education etc. Some veterans may not have much time to live and may choose to help a family member who could get good use out of it.

Having said that....the other side of the coin is: those receiving or about to receive a disability may not have the mental well being or capacity to make a well-informed decision.

My personal belief is that a monthly pension is the best choice......for most......but I don't believe it is best for everyone......

Surviving spouses is as many are aware is something that should be consider and they receive nothing if they get a lump sum......but again........choices..... JMO

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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Ex Member on Thu 21 Jan 2016, 13:54

I think every medically released soldier get a 100% PA pension as soon as they are medically released and leave base show some fkn respect Canadians or sign the dotted line yourselves.

enough said!

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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Riddick on Thu 21 Jan 2016, 13:27

I receive a pension and have received a lump sum. I like options and choices.....I like both.

Enough said!

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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by bigrex on Thu 21 Jan 2016, 12:37

That is why I have said that any lump sums payments, should simply be an advance on all, or a portion of the monthly pension, for x number of years. That way a Veteran, especially if they are young and still working, can take that lump sum, say 5 years worth of monthly pension, and then after the five years is up, the monthly cheques start. This would give them that large cheque up front to do with as they wish, down payment on a house or new car, or even help pay for something like a wedding. Especially if they do not qualify for the CIB, without putting them at a disadvantage later on in life.
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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Ex Member on Thu 21 Jan 2016, 12:23

Pension equals security! Enough said!

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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Guest on Thu 21 Jan 2016, 09:22

ya rags I agree that and other reasons give me concerns about the option . thing is we never should have had a buyout . so if we can bring back the PA pension even as an option we gotta try to get that done . been ten long years and time is a factor because things for the buyout guys are not getting better . in fact by the design of this thing they just get worse .

propat

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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Ex Member on Thu 21 Jan 2016, 04:29

Rag's i'm over 50 and i want the monthly pension. i'm going to live another 50 just to get what they owe me maybe 60 fk em lol. no seriously it is more secure than the other programs in nvc. 10 years will give me more than i can get with the lump sum.

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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Teentitan on Thu 21 Jan 2016, 03:32

About time he finally spoke. Not a lot of details some misinformation he stated and distraction but at least they are looking at it.
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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Rags on Wed 20 Jan 2016, 23:14

I am not pleased they will make it a offer to take either or. It should be a pension no cash payment. A 50 year old with wife and kids may not even think of cash but a 19 year old single with out proper guidance would possibly take cash. Then 20 years from now we have a soldier homeless selling pencils on the street. Pension will ensure they will always have enough for food clothing and a roof.

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Re: Injured veterans to get choice over pensions or lump-sum payments

Post by Ex Member on Wed 20 Jan 2016, 20:41

Devil is in the details.

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