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Response to buyout increase question and lifelong pension question

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Re: Response to buyout increase question and lifelong pension question

Post by pinger on Fri 22 Jul 2016, 20:59

Hope I made sense.
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Re: Response to buyout increase question and lifelong pension question

Post by pinger on Fri 22 Jul 2016, 20:54

Perhaps I am wrong here as I am not involved with the buyout. (peeves me off though)
However, for any of us to frick or frack assumptions scratch upon that kind of a GoC reply
(Very vague and BS) is pointless to me.

Push the card and OUR energies to the sender.
Putting THEIR feet to fire can be much more effective...

Politically correct for now... snickers included.

My 2 cents
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Re: Response to buyout increase question and lifelong pension question

Post by Guest on Fri 22 Jul 2016, 19:30

well buds if you are taking this reply as truthful you are taking an exert of the reply I received and just using that for your analysis .

try using the entire reply with such things contained in it such as " Veterans assessed at 100% who received a Disability Award in
2006, may in fact receive more than $110,000." to produce a thesis reflective of the message not one that contradicts even itself .

establishing RATE TABLES does not mean establishing the full buyout retro amount if they are sticking to legislation definitions .

buds again without the regulations its hard to say but this still looks to me as cola recovery for this poorly written piece of crap .

the thing is you are focusing on that one crappy statement in the legislation as well without considering that in this legislation the buyout is also indexed to inflation as well so whatever the buyout retro is and I think your numbers are accurate in that effect after that you will still have to calculate cola on to that number to get the actual retro !!!!

and that buds pretty much coincides with the entirety of the response I relived as well as what I have been saying all along .

propat




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Re: Response to buyout increase question and lifelong pension question

Post by bigrex on Fri 22 Jul 2016, 18:58

"the maximum Disability Award amount of $360,000 will be used to establish new rate tables for the Disability Award starting with the year it was implemented, 2006, through to 2016
using the Consumer Price Index."

So to me, this means that there will a new starting point for 2006, increased from the original $250000 maximum, and that each subsequent year will be adjusted by CPI, until you reach the promised $360000 amount. Just using the existing CPI increases, that amount would be roughly $290000, but that amount will drop if they add in the 2017 CPI increase. The higher the next CPI increase, the smaller the top up amount will be.
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Re: Response to buyout increase question and lifelong pension question

Post by Guest on Fri 22 Jul 2016, 13:55

bigex unfortunately the legislation was written so poorly that its hard to glean the actual meaning of that part without the regulations .

now I said from the start this looks more like a cola recovery part nothing more so people don't get double cola . then again it is written so poorly it is impossible to tell for sure
.
is your idea of a pro rated system being at the heart of that part of the legislation possible?

sure it could be when you brought it up I thought that may be very likely as well with some reservations witch I told you about but I thought it about as likely as my theory so much so I was concerned enough about it to wright long  letters with one question at the end dumbed way the frack down to a simple yes or no answer so the recipient cant send back a too horribly convoluted response .

will a member that recived a 100% buyout in 2006 get $110,000 backpay ?

again this is probably the poorest piece of legislation I have EVER read when it comes to meaning and clarity so I can probably pull another dozen plausible explanations for that part right clean out of my butt , but until the regulations come out I'm not sure we will know the true meaning of it with any degree of certainty .

IF this response from the ministers office is an honest one and I think we are ok . and we can estimate any retro by the way I originally proposed .

if not we got to wait for the regs.

propat

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Re: Response to buyout increase question and lifelong pension question

Post by bigrex on Fri 22 Jul 2016, 13:08

I would love to see someone get $110000 from the top up, because that would mean that everyone would be topped up to the 2017 rate. But if that was the case, they wouldn't have stated in the legislation that the amount would be reduced by the annual COLA amount, back to the year the lump sum was received. I think they will be maxed out between $40K and $50K. What I think they need to do, is release the new updated 2006 rate chart, and from that everyone would be able to calculate what they should receive.

I also want to see some sort of confirmation from the Ministers office, that this top up does not mean that those who have been injured since 2006, will be left out when the life long pension is introduced. As of yet, we have not had that reassurance.
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Re: Response to buyout increase question and lifelong pension question

Post by Guest on Fri 22 Jul 2016, 09:50

well bruce we have been through this when they came out with the poorly written legislation .

and as it stands now we are still not sure what it all means and probably will not until the regulations come out .

if this person is accurate thou it illuminates a lot of possibilities .

my best guess the amount in this case would be 110,000 plus cola for 2016.

propat

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Re: Response to buyout increase question and lifelong pension question

Post by Bruce72 on Thu 21 Jul 2016, 23:16

So if I understand correctly. The max rate for 2017 of $360,000 minus 2006 max rate at $250,000 equals $110,000 not taking into account inflation.

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Re: Response to buyout increase question and lifelong pension question

Post by Bruce72 on Thu 21 Jul 2016, 23:11

What was the max rate for 2008 and 2009?

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Response to buyout increase question and lifelong pension question

Post by Guest on Thu 21 Jul 2016, 18:38

Dear Mr. xxxxxxx

On behalf of the Honourable Kent Hehr, this is in response to your
e-mail
inquiring about retroactive increases to the disability award. Your
correspondence regarding the re-establishment of lifelong pensions,
which was forwarded by the offices of the Prime Minister and the
Minister of National Defence, has also been received.

The disability award granted under the Canadian Forces Members and
Veterans Re-establishment and Compensation Act is a tax-free, lump-sum
benefit that recognizes the non-economic impacts of a service-related
injury, including pain and suffering. Since 2006, the year the Act came
into force, the amount of the disability award has been indexed annually
in accordance with changes to the Consumer Price Index (CPI). As you
know, in Budget 2016, the Government of Canada proposed to raise the
value of the disability award to a maximum of $360,000 and index this
amount to inflation.

Effective April 1, 2017, the maximum Disability Award amount of
$360,000 will be used to establish new rate tables for the Disability
Award starting with the year it was implemented, 2006, through to 2016
using the Consumer Price Index. This will result in the maximum amount
payable for a 100% assessment, for example, being higher than $250,000.
As such, the difference between the amount of the new rate tables and
the original Disability Award received will be calculated for each
individual assessment. The total of all the differences, between the
original Disability Award assessments and the assessments under the new
rate tables, will be the amount that is paid to an individual. As a
result, Veterans assessed at 100% who received a Disability Award in
2006, may in fact receive more than $110,000.

I would like to assure you that Veterans Affairs Canada will contact
those who received the disability award prior to April 1, 2017, about
their eligibility for a supplementary payment. However, the Department
will not be able to calculate the revised rates until early next year
when the CPI figure for 2016 is known.

As for lifelong pensions, the Government has engaged in
consultations—with input from the Veteran community—to develop an
option that best meets the needs of those who sacrificed so much to
defend the freedom that all Canadians enjoy today.

Thank you for writing, and I trust that the information provided is
helpful.

Sincerely,


Janice Burke
for

Bernard J. Butler
Assistant Deputy Minister
Strategic Policy and Commemoration


Janice Burke

Team 2020
Care. Compassion. Respect

Équipe 2020
Soins. Compassion. Respect

Veterans Affairs Canada/Anciens Combattants Canada


I may now be more confused than when I started but this is what I got .

propat

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