SISIP COLA RETRO (Assorted Topics)

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Re: SISIP COLA RETRO (Assorted Topics)

Post by hello39s on Fri 15 May 2015, 15:30

Excuse my English in the previous message, I used Google translation.

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Re: SISIP COLA RETRO (Assorted Topics)

Post by Guest on Fri 15 May 2015, 15:46

Those that received a $0.00 amount for their 2015 COLA I think that I know - or understand why.

I believe - or at least I think that for some reason some individuals calculations from their 2013 retro payout had their calculations completed using the full total of the gross of past COLA's included in their calculation at that time.

What does this mean ?
It means that you have already received your 2015 COLA in your 2013 retro payout.
It also means that you probably got 100% of your past COLA - vice only 74% of what you would have received if you would have received it in this 2015 COLA payout.
The over payment that shows on your sheet is probably the 26% difference of what they are using in calculating the 2015 COLA payouts, which by court order they cannot recoup from you.

This is the only thing that I could think of with reference to those who got a $0.00 COLA.

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Re: SISIP COLA RETRO (Assorted Topics)

Post by Nemo on Fri 15 May 2015, 18:36

I got my cola today.  I would have loved to have been at the figures roughly calculated on here which would have been about 18K or so.....Anyways, I was zeroed out around 2000 or 2001.  in receipt of CPP(D), military pension and VAC pension and now again - LTD.  I got just under 200K in original settlement.  For cola, I got a cheque for just under $900 and I owe SISIP just under 100, so I made off with about $800. Better than zip!  I received both the cheque from Mcinnes cooper today and the letter from sisip telling me that i had been overpaid a wee bit. So now this chapter is finished for me. Now if only they would reinstate sisip till death and not age 65....
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Re: SISIP COLA RETRO (Assorted Topics)

Post by Guest on Fri 15 May 2015, 18:56

Gross versus Net, it's really starting to look like a lot of the full gross COLA amount of past calculations in our 2013 retro payout have been calculated to some members in that 2013 payout year.

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Re: SISIP COLA RETRO (Assorted Topics)

Post by Nemo on Fri 15 May 2015, 19:11

Yes, Trooper I think that might be the case cause the cola amounts for similar situations fluctuates wildly. I was one of the later ones to get my payout in 2013....maybe around Oct....
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Re: SISIP COLA RETRO (Assorted Topics)

Post by Guest on Fri 15 May 2015, 19:40

Yes it makes sense they are using our retro calculations to determine our COLA amount, there's no real other logical explanation as to looking at two different members, with two close in identical retro numbers, and benefits, where one receives a large COLA refund, and the other receives none or very little COLA refund.

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Re: SISIP COLA RETRO (Assorted Topics)

Post by rzm71 on Thu 21 May 2015, 12:41

hey .
my cola chq and first check were almost identical in amounts .
just few hundred dollars difference .
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Re: SISIP COLA RETRO (Assorted Topics)

Post by rzm71 on Thu 21 May 2015, 12:43

Very Happy
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Re: SISIP COLA RETRO (Assorted Topics)

Post by Guest on Thu 21 May 2015, 14:12

trooper im not sure about your theory , not saying its wrong , it just doesn't make since to me .
even after the clawback issue was settled SISIP would not even begin to start the calculations until they got a court order . when the retro checks were going out there was no court order issued for the COLA in fact the COLA issue was no where near settled.

if I were getting 0 after many years with a lager amount of deductions I would appeal immediately .

even if its correct its the best way to get a detailed answer as to why.

propat

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Re: SISIP COLA RETRO (Assorted Topics)

Post by frankiemacdonald on Thu 21 May 2015, 15:59

Looking for some help..No cola yet but received an extra payment to my account from Manulife  today of $85 and change..What does this mean, Sparrow or anyone one..Thanks

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Re: SISIP COLA RETRO (Assorted Topics)

Post by frankiemacdonald on Thu 21 May 2015, 16:08

Thank u Sparrow, does it also mean my monthly cheque goes up by $85.00 as well ?
Appreciate all your hard work on this site..

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Re: SISIP COLA RETRO (Assorted Topics)

Post by oldsailor on Fri 22 May 2015, 10:22

Can anyone tell me what the average percentage your cola was compared to your check that was received for the settlement about a year or so ago.

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Re: SISIP COLA RETRO (Assorted Topics)

Post by RobbieRoyal on Fri 22 May 2015, 10:31

called 1-800 370-0025 and asked if my file was completed, all that was relayed was your file is being worked on and if completed prior to end month (May) it will be forwarded to MC for process in June if not wait till July 2nd when all are to be completed.
PS Did not receive an increase in my LTD this month
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Re: SISIP COLA RETRO (Assorted Topics)

Post by Guest on Fri 22 May 2015, 11:08

old sailor they are all over the map so not really sure . COLA is not based on your settlement anyway but your deductions.

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Re: SISIP COLA RETRO (Assorted Topics)

Post by oldsailor on Fri 22 May 2015, 11:21

Thanks Propat, I was wondering and also noticed that since Feb my sisip pension was about $30 less

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