Is ELB really equal to SISIP in ALL cases ????????

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Is ELB really equal to SISIP in ALL cases ????????

Post by Guest on Sat 13 Aug 2016, 12:10

ya its a question that's been bugging me for a while now . I have asked this question a couple of different ways already with no response . soooo thought id ask this more directly for clarities sake as this has been bugging me for some time now .

the legislation seems to read for ELB pay at release plus COLA on the entire amount until you qualify for ELB .

SISIP policy seems to be just pay at release plus COLA on 75% of that .

now for those on ELB at or around their release date I get that .

but for those that didn't go on ELB till much latter should not ELB be higher and paying the difference ?????

I must be wrong because they are paying me nothing .

have been watching other SISIP guys get it at latter stages and they seem to be zeroed out as well . so again I must be wrong correct ?????

I keep going over it and it still bugs me because I cant see how I'm wrong .

little help ??????

always question authority

propat

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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by bigrex on Sat 13 Aug 2016, 14:09

Propat, SISIP and ELB were paying 75% of pre-release pay, and both were capped at a maximum of 2% increase per year. So it shouldn't matter if you were on SISIP right from the start, or placed on ELB later on, because the starting point, and annula increases would have been the same.. This could change though, with the increase to 90%, and the removal of the 2% cap on COLA for ELB. So unless SISIP follows suit on both counts, ELB could be considerably higher than SISIP within a few years.
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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by Guest on Sat 13 Aug 2016, 14:30

yes 75% I get that for both but 75% of what????

SISIP is salary at release .

ELB salary at release PLUS COLA on 100% of that until you qualify for ELB and 75% after that .

they are both different calculation with different outcomes by my numbers .

read the policies act and regs and tell me where I'm wrong pleas .

propat

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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by Guest on Sat 13 Aug 2016, 14:40

by my count I'm missing applied cola on 25% of my release salary for years with the compounded way its calculated that's a few bucks . for some ive seen recently released before me and getting approved for ELB after me with bigger salaries its quite a bit more .

or am I reading it wrong ????

if so where am I off ???

propat

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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by bigrex on Sat 13 Aug 2016, 14:46

Actually propat, I'm not sure. Obviously they must be the same, because the people who were reinstated on SISIP had their ELB zeroed out. That wouldn't be the case, if their monthly SISIP had been lower. I know that IF I had been reinstated on SISIP, and the amount deposited at the end of the month was less than what I had been getting from ELB, I would be making it known.
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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by Guest on Sat 13 Aug 2016, 14:52

do me a favor buds and read the legislation and regs and let me know if the ELB reads for your income .

income at release PLUS COLA until ELB is payable .

that's what I keep coming up with and if that's correct people are getting fracked .

propat

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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by bigrex on Sat 13 Aug 2016, 15:56

OK, I think the wording is confusing. It says that the imputed income is the income at release, adjusted annually until ELB is approved. But it does not clarify by how much it is adjusted, so I think it is also capped at 2%.

So take two Veterans, both with a salary of $5000/mo at release, but one goes on SISIP, and the other goes on ELB 5 years later.

Veteran #1 - $5000 - 25% = $3750. After 5 years of 2% COLA, it equals $4140/mo.

Veteran #2 - $5000 + 5 years of 2% COLA equals $5520 - 25% = $4140/mo


So as long as the COLA adjustment for SISIP and ELB is capped at 2%, it won't matter when you started, or how long you've been getting it. So if you meet guys with higher ELB payments, it's because they either had higher military pay, or fewer deductions.
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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by Guest on Sat 13 Aug 2016, 16:15

check your vet #1 again buds I'm getting the 3750 but when I apply the COLA to that I'm getting 4059.1

vet # 2 is all good by my calcs .

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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by Guest on Sat 13 Aug 2016, 20:18

21 (1) The monthly military salary referred to in sections 18 to 20 shall be adjusted annually on January 1 in accordance with the percentage increase to the Consumer Price Index, rounded to the next 1/4%, for the year ending on September 30 of the previous year to a maximum of 2% per year.

so yes it is also capped at 2% .

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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by bigrex on Sat 13 Aug 2016, 23:27

Propat, you only added 4 years of COLA. add another 2% and we'll match up. It will be interesting to see what the regulations will say in October, and whether they will remove that cap as promised. And if they do, we'll have to keep a close eye out for those on SISIP, to see if they benefit from the change as well.
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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by Guest on Sun 14 Aug 2016, 00:07

oh frack yup there it is . counted the 3750 as a cola calc by mistake thought I had 5 .

thanks .

well buds all the nuts and bolts are in the regs and I really hate the fact they don't come out with the legislation because they can make a piece of legislation that looks good turn to crap in a hurry .

as for the SISIP guys buds I'm thinkin they gotta get off their buts soon and get that done . I realize this is something that can be done quickly but it is getting a little late in the day .

the CDS may have a reason for changing the policy last minuet I get that but their is absolutely no reason I can see why it couldn't be announced earlier like say when they announced the ELB changes . kinda makes me a little nervous it wasn't announced then and probably will till it happens or not.

thanks again

propat

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ELB goes to 90 1 Oct 16 What about Ltd SSIP

Post by Guest on Sun 14 Aug 2016, 14:03

I see no difference in ELB and Ltd SSIP at the present time.

But come Oct 1st then there is.  90% ELB to 75% LTD SSIP.

I thought about this a few months ago, and I applied for ELB and knew I would not get anymore income at the present time.   So, last week my CM calls me from VAC and says what's up with application for ELB, u can only be on one or the other.   Well, I told him come 1 Oct I will put in a claim for 15% ELB while I am on LTD SSIP.  If SSIP does not pay 90% then I will ask to go ELB.  He chuckled to himself and knew here is another problem.  

So, will SSIP do the right thing or will they make us beg for what is really common sense.

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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by Trooper on Sun 14 Aug 2016, 15:28

With regards to SISIP increasing to 90%, I have no doubts this will indeed happen. The thing is ELB falls under VAC and is allocated from this past budget. SISIP falls under the CDS where as the funds come from the Treasury board. Two different systems with the same principal. That said, I would expect SISIP to follow 12 to 15 Months from Oct 01 of this year, perhaps even sooner as this has been the case with previous changes. Also the increase will be retroactively paid from Oct 01, 2016.
I have no reference to this as of today, but it is my opinion the above will indeed happen.
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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by bigrex on Sun 14 Aug 2016, 23:44

I have no doubt that SISIP will indeed increase to 90% at some point. What I'm not so sure of, is will they remove the 2% cap on COLA, if ELB does? That has been ingrained in the policy since it's inception, and has likely saved the GoC a boat load of cash over the last several decades, so I'm not sure.
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Re: Is ELB really equal to SISIP in ALL cases ????????

Post by Guest on Mon 15 Aug 2016, 08:01

I was never opposed to the 2% that much to tell ya the truth when looking at the entirety of the policy . ya see I see a good trade off in the policy itself . they don't deduct COLA calcs from all the deductions . its hard to say but I believe at its inception these to parts of the policy came to be as co-dependents .

would I like to see the 2% gone sure but not at the cost of deducting COLA from my other incomes .

keep in mind the GOC does not like giving vets anything without making them over pay for it from somewhere else thus actually saving them money .

propat

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