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Increased Disability Award & Retro

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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, 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, 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, 17:37

Well propat the way I see it is that putting this out for all to see is helping not only me , but everyone who reads this.

So I appreciate it when members come together and share their opinions cause it's helpful to all , and that's what CSAT is all about helping each other out.

Further to this , yourself and Rex's calculations are correct and they have a much greater impact on what will be coming for those who received Lump Sums.

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Re: Increased Disability Award & Retro

Post by Guest on Thu 24 Mar 2016, 17:15

not a problem trooper the way they like to put this stuff i believe is fist intended to confuse and then and only then to inform but not completely lol.

propat

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Re: Increased Disability Award & Retro

Post by Guest on Thu 24 Mar 2016, 17:08

I'm some glad we have Rex an Propat here to correct me LoL.
I think I will have to put up a sticky to remind myself of this , it's the second time I've been corrected.
The Boys are absolutely correct , 10% of $360,000 = $36,000 - $25,000 = $11,000

So Recon will be looking at about $11,000 Retro with all the inflation included.

Thanks again Rex & Propat

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Re: Increased Disability Award & Retro

Post by Guest on Thu 24 Mar 2016, 16:21

10% of 360,000 minus the amount you already received for THAT 10% .

propat

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Re: Increased Disability Award & Retro

Post by rucksack031 on Thu 24 Mar 2016, 16:17

Hey rex I think I know what you mean now there was a 10% to bring the lump-sum to 310,000 from con then 16.1 to 360,000 so depending on year one received there lump-sum ref Recon would equate to 26.1% owed based on receiving his in 2007 so based on that 11000 would be owed, did I get Rex.
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Re: Increased Disability Award & Retro

Post by Guest on Thu 24 Mar 2016, 16:10

ya i agree bigrex that's the amount i put earlier on the other thread where the question was asked .

propat

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Re: Increased Disability Award & Retro

Post by rucksack031 on Thu 24 Mar 2016, 16:06

Good day in return Trooper, yes you are correct tax free, was thinking of a different Scenario, my bad .
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Re: Increased Disability Award & Retro

Post by Guest on Thu 24 Mar 2016, 16:01

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.

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Re: Increased Disability Award & Retro

Post by rucksack031 on Thu 24 Mar 2016, 15:57

Hey rex did I miss something in my math ? but we are in agreement on your second paragraph.
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Re: Increased Disability Award & Retro

Post by bigrex on Thu 24 Mar 2016, 15:47

your payment should be around $11000. Funny enough, 16% on top of the current 10% award is $36002. That way, all Veterans assessed at any given level of disability, whether it was 2006, 2012 or 2017, will have received the exact same amount of money, in total, as compensation.

What I do not agree with, is making us wait a year before making the changes. Why not raise it to $360000 immediately, so that those that are suffering now, will get a little support now, while waiting for the GoC to sort out the pensions.
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Re: Increased Disability Award & Retro

Post by rucksack031 on Thu 24 Mar 2016, 15:40

First good to see you still around Dave, Trooper is correct in his math , 16.1 % would equate from previous to current lump-sum announced. Like Trooper said then add on the inflation for the said time period, which will be taxed of course. As far as I can see 2017, would be the roll out, what month not sure? But in my opinion it is a easy calculation that could be rolled out this year, jmo.
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Re: Increased Disability Award & Retro

Post by Recon031 on Thu 24 Mar 2016, 15:08

Hey Trooper .... tks. for jumpin in here , question ? this will only happen in 2017 ?

Dave
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Re: Increased Disability Award & Retro

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