Increased Disability Award & Retro

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Re: Increased Disability Award & Retro

Post by rucksack031 on Thu 24 Mar 2016, 18:35

great sharing off info. bigrex propat, trooper, I tried explaining to two friends whom got lump sums but are not grasping it.
# 1 received 76500 in 2012 = ?

# 2 received 90000 in 2008 = ?
if you could break it down for them and show how you came up with amounts one should receive tks
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Re: Increased Disability Award & Retro

Post by Guest on Thu 24 Mar 2016, 18:49

ok buds not a problem .

but you will need their percentages as I do not have accurate historic buyout tables year to year .

ill do recons .

he was at 10% so he will get 10% of 360,000 witch is 36,000.

then they would have to subtract the amount they already payed him for that 10%

witch was 25,000

so they would owe him another 11,000

your guys

#1 take whatever parentage he is getting and apply it to 360,000 then subtract the 76,500

#2 take whatever parentage he is getting and apply it to 360,000 then subtract the 90,000

propat

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Re: Increased Disability Award & Retro

Post by rucksack031 on Thu 24 Mar 2016, 19:14

# 1 got 20% or 74646 in lump sum propat
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Re: Increased Disability Award & Retro

Post by Guest on Thu 24 Mar 2016, 19:28

ruck their is something wrong with that buds . 20 % in 2017 will be worth 72,000. can ya double check that?

propat

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Re: Increased Disability Award & Retro

Post by Guest on Thu 24 Mar 2016, 19:33

id hate to hazard a guess as to #1 s percentage but ill guess #2s is about 35%.

if #2s is 35% he will get 126,000 minus the 90,000 they already payed him .

so he would receive 36,000

propat

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Re: Increased Disability Award & Retro

Post by Ex Member on Thu 24 Mar 2016, 19:41

Why would the liberals give retro if they plan on returning to pensions?

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Re: Increased Disability Award & Retro

Post by rucksack031 on Thu 24 Mar 2016, 20:11

I'm back had to finish medication session sorry propat.
now this individual received a lump sum of 74646.99 in june of 2013,
and in his letter of assessment he was assessed at 20% does this help, reading from his dva letter.
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Re: Increased Disability Award & Retro

Post by Guest on Thu 24 Mar 2016, 20:39

if I had the yearly tables it would help a lot buds but one thing I can tell you is that amount IS NOT 20% for that year .

30-35 % maybe ? some other amount included for something elce ? maybe he got it for two separate claims one for 20% and another for 10-15% and only read off the 20% part ?

not sure whats up there but 20% in 2017 will be 72,000 so 20% in 2013 aint 74,000 plus.

propat

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Re: Increased Disability Award & Retro

Post by rucksack031 on Thu 24 Mar 2016, 21:03

well not sure what else bud but I'm reading the letter as I type and it says exactly what I posted its got me, this person is me old man retd cwo just about 80 now, it was for his hearing,. but I will check if there was anything else, but the total amount he received was as posted. I'm sure your correct propat, there has to be something missing. I do appreciate your time and effort, will get to the bottom of this. Thank-you
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Re: Increased Disability Award & Retro

Post by Guest on Thu 24 Mar 2016, 21:18

no problem buds he may have had something prior to that for 5-15 % or something bringing the total to that much? just reaching I guess . but their is probably something simple we are missing here . it always is .

spent a while looking for the 2013 chart and all I can find is the 2016 . I can extrapolate my own 2006 chart . if I start doing a bunch of COLA calculations I could probably extrapolate the rest but if he got two separate amount's for different years they might not help .

se what ya can figure out buds .

propat

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Re: Increased Disability Award & Retro

Post by Guest on Fri 25 Mar 2016, 13:46

Question regarding the Retro.

Does anyone have any Idea if the Retro has to go through some sort of vote or approval before the funds can be distributed in 2017 ?    

Or do you think that it's just a matter of the government distributing the funds ?

The SISIP retro was a bit different as this was done through the courts in conjunction with the government  that's why I'm wondering if just by announcing it means it's all is good to go.

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Re: Increased Disability Award & Retro

Post by LostTrucker on Fri 25 Mar 2016, 20:54

Trooper wrote:Well the announcement was in this Budget so the funds for this is allotted.

So my guess would be early in 2017 , perhaps even as early as Jan 2017.

Good day rucksack , I do believe the lump sums are all tax free so no tax on the retro I would assume.

According to Bill C-12 which was tabled March 24th it will come into force April 1, 2017 Shocked
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Re: Increased Disability Award & Retro

Post by srproctor on Wed 30 Mar 2016, 23:13

the Consumer Price Index rate of inflation is problematic with regard to the retroactive D.A.s.  Suppose the dept. does account for the rate of inflation.  Going back 10 years @ 2% a year (roughly) for lots of Vets like me who have had reassessments over a 9 year period is what they are really gonna do?  Do you think they'll bother with the rate of inflation with these retroactive payments?

    They held that award of mine for a 9 years.  What good would it be if I am given the award from 2008 without an adjustment for inflation?  It's not so much the award but the inflation, or lack thereof that is troublesome.  It would be the same as being taxed at 18% (9 years @ 2% inflation per year) on my D.A., if inflation is not accounted for.


Last edited by srproctor on Wed 30 Mar 2016, 23:23; edited 6 times in total (Reason for editing : More Data)

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Re: Increased Disability Award & Retro

Post by Guest on Thu 31 Mar 2016, 06:46

I'm thinking the increase to $360,000 includes the rate of inflation with respect to calculating the retro.

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Re: Increased Disability Award & Retro

Post by RobbieRoyal on Thu 31 Mar 2016, 07:02

Not even remotely confused here because I think being screwed is kinda nice, yet again........ but at least MC doesn't get a cut right?
WHAT THE HELL DOES THIS ALL MEAN!
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