Increased Disability Award & Retro

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Re: Increased Disability Award & Retro

Post by Guest on Thu 31 Mar 2016, 10:50

yes trooper that is exactly what it looks like . the MAX in 2017 will be 360,000 . everyone with buyouts previously will be brought up to that new MAX for that year .

propat

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Re: Increased Disability Award & Retro

Post by Guest on Thu 31 Mar 2016, 11:14

I take it that the SUMMARY (c) & (d) of BILL C-12 is the same formulas we have been discussing here on CSAT ?

(c) increase the percentage in the "formula" used to calculate the earnings loss benefit;
(d) specify when a disability award becomes payable and clarify the "formula" used to calculate the amount of a disability award.

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Re: Increased Disability Award & Retro

Post by Guest on Thu 31 Mar 2016, 12:02

yes trooper that's correct trooper . looks like a pretty good chunk of change for those not at the minimum.

propat

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Re: Increased Disability Award & Retro

Post by Guest on Thu 31 Mar 2016, 13:30

Excellent propat Thanks !

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Re: Increased Disability Award & Retro

Post by 1993firebird on Thu 31 Mar 2016, 17:02

I received 20% , $53,472.99 , so according to what is being said here I should get $72,000 - $53,472.99 = $18,500 approximately. Not sure how I got this 20% amount when the maximum amount is a round number for example , at the time I received this amount , it was $267,000. I believe there was no retro for lump sum payments.


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Re: Increased Disability Award & Retro

Post by Guest on Thu 31 Mar 2016, 17:35

yup that amount sure looks correct to me .

propat

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Re: Increased Disability Award & Retro

Post by Guest on Thu 31 Mar 2016, 17:41

hey ya that is an odd number you would figure 53,400 even would make more sense . do they add interest from the time of your acceptance till the time they pay you???

propat

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Re: Increased Disability Award & Retro

Post by 1993firebird on Thu 31 Mar 2016, 17:44

But how the $53,472.99 amount? That would be a maximum amount of $267,364.95 and I think that the maximum amount has always been a round number like $360,000 for 2017.

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Re: Increased Disability Award & Retro

Post by 1993firebird on Thu 31 Mar 2016, 17:47

I believe the year was 2007 that I got the 20%.

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Re: Increased Disability Award & Retro

Post by Guest on Thu 31 Mar 2016, 18:12

well not actually bud the initial amount was at 250,000 but after that it went up by COLA . the 360,000 amount for 2017 was just an amount they pulled out of their buts like the 250,000 amount so its a well rounded number .

propat

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Re: Increased Disability Award & Retro

Post by Guest on Thu 31 Mar 2016, 19:00

Makes sense propat according to the VAC site the current maximum is set at $310,378.59.

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Re: Increased Disability Award & Retro

Post by 1993firebird on Thu 31 Mar 2016, 19:05

ok , well it makes more sense now.

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Re: Increased Disability Award & Retro

Post by Guest on Thu 31 Mar 2016, 19:12

I'm happy that many Veterans will have this tax free no fees retro to look forward to next year !

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Re: Increased Disability Award & Retro

Post by Teager on Thu 31 Mar 2016, 22:20

Anyone believe that they put the new increase over to 1April 2017 because they might bring the Pension in and give everyone a choice? Just seems odd they would wait until next fiscal year to begin payments.

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Re: Increased Disability Award & Retro

Post by Guest on Thu 31 Mar 2016, 22:33

possible .

propat

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