SISIP COLA RETRO (Assorted Topics)

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COLA Court Doc

Post by teentitan on Thu 03 Jul 2014, 19:28

Here's the COLA Court Doc's

http://veteranvoice.info/ARCHIVE/info_14jun_COLA%20Settlement%20and%20Fee%20Decision%20-%20July%202,%202014.pdf


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Re: SISIP COLA RETRO (Assorted Topics)

Post by partofthegamg on Thu 03 Jul 2014, 19:36

Ok, I lost my decoder ring... Anyone have spare one so I can decrype the message in it. TEEN, thank you for posting it. Fast as always

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Re: SISIP COLA RETRO (Assorted Topics)

Post by 6608 on Thu 03 Jul 2014, 20:22

Well in a nutshell shell no payments till 7th Jan 2015 then on the 7th of each month till done like before,avg amount 2.5k (depends on your time),appox 14000 members now expanded to include all on sisip.

If more than ten members opt out the court cancel order

Cheers
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Re: SISIP COLA RETRO (Assorted Topics)

Post by Guest on Thu 03 Jul 2014, 20:58

hmmmmm not great not bad . will have to read it a couple of more times.

thanks teen we do appreciate this.

propat

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Re: SISIP COLA RETRO (Assorted Topics)

Post by Sapper Zodiak on Thu 03 Jul 2014, 21:33

Sort of confusing to me...they never mentioned the discrepancy of the COLA in the first place. I have been re-instated last year but have no fricken idea what I should be receiving from Sisip. Do our next monthly benefits go up? I suppose I get what I get and like it! The few years mentioned re- 2007 etc. what are they referring to? Was the cola incorrect in just those years? You are all brilliant in your own right...but most will have no idea what this means until it is paid. HMMM...wtf?
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Re: SISIP COLA RETRO (Assorted Topics)

Post by teentitan on Thu 03 Jul 2014, 23:35

Well I can't take the thanks...it goes to our webmaster....that old SOB still has his wiry ways!! LOL

Still nothing on LNVB is there anything on the fb page?
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Re: SISIP COLA RETRO (Assorted Topics)

Post by sabrelove on Thu 03 Jul 2014, 23:39

Nothing on the FB page yet, Teen.

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Re: SISIP COLA RETRO (Assorted Topics)

Post by bigrex on Fri 04 Jul 2014, 00:53

Well, for most members of the class, the actual payout will not be worth the headaches that the first lottery caused, since we're only getting 1 or 2 years worth of adjustments. For me , calculating COLA on my gross amount, instead of the net benefit, works out around an extra $65 per month for a year, and the interest would bring it up to around $1000. But then we start the deductions. Firstly, the agreement between the lawyers, says the recovery will only pay out at 74% of the entitlement, so my payment is already down to $740. Then there will be the 10% withholding tax, reducing it to $666, minus another $69 for legal fees, admin fees and GST. Unless I am way off with my calculations, I don's see how they came up with an average recovery of $2500.
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Re: SISIP COLA RETRO (Assorted Topics)

Post by teentitan on Fri 04 Jul 2014, 09:55

OK may have read it wrong but it says legal fees are $19 per claim on the COLA...
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Re: SISIP COLA RETRO (Assorted Topics)

Post by Sapper Zodiak on Fri 04 Jul 2014, 10:51

I believe the $19 dollars is a handling fee charged to Manulife by MC. We still get dinged for the legal fees separately.
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Re: SISIP COLA RETRO (Assorted Topics)

Post by Guest on Fri 04 Jul 2014, 10:53

teen it looks like 8% plus .038% plus provincial tax . the 19$ seems to be a admin fee.

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Re: SISIP COLA RETRO (Assorted Topics)

Post by teentitan on Fri 04 Jul 2014, 13:10

Who's getting the admin fee?  Manulife or law firm?
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Re: SISIP COLA RETRO (Assorted Topics)

Post by bigrex on Fri 04 Jul 2014, 13:24

The GoC is paying $19 to the lawyers, for each of the 1400 claims. It doesn't affect the actual amount payable to any of the class members.
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Re: SISIP COLA RETRO (Assorted Topics)

Post by teentitan on Fri 04 Jul 2014, 13:37

So they are being paid twice...GoC and us.

I've given up trying to figure it all out too complicated. Especially all the forms at the end...haven't got a clue what they are for.
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Re: SISIP COLA RETRO (Assorted Topics)

Post by partofthegamg on Fri 04 Jul 2014, 18:12

Teen when I find my secret decoder ring, I will post the translation here. I use to use it back when I would get a copy of the 300 hundred page op-ord to find what I need...

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