ELB 2% per year after 3b release?????

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ELB 2% per year after 3b release?????

Post by DCHD27 on Mon 28 Nov 2016, 05:36

Does the 2% automatically start up from release to age 65???

Or does it start when you apply and do you have to apply

I have being retired no work since release in 2010 just this year I went back on vok rehab for 2 year thru my caseworker.

She said it now starts thru the release process, she didn't know if I would get 6 lost years back.

anyone know

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Re: ELB 2% per year after 3b release?????

Post by Guest on Mon 28 Nov 2016, 06:07

DCHD27,

Can you be more specific when you state 2% per year?

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Re: ELB 2% per year after 3b release?????

Post by 1993firebird on Mon 28 Nov 2016, 07:27

Perhaps they mean indexing for a medical release which starts right away after release.

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Re: ELB 2% per year after 3b release?????

Post by DCHD27 on Mon 28 Nov 2016, 19:42

The 2% per year you get back at age 65, because your pension is not considered income so you done get the tax break if you invest.

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Re: ELB 2% per year after 3b release?????

Post by DCHD27 on Mon 28 Nov 2016, 19:44

earnings losted benefit

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Re: ELB 2% per year after 3b release?????

Post by Guest on Mon 28 Nov 2016, 20:05

DCHD27,

I believe your asking about the:
Supplementary Retirement Benefits


Purpose
The purpose of this policy is to provide guidance on the rationale for payment of the Supplementary Retirement Benefit (SRB) and the eligibility requirements.

Policy
General

The Financial Benefits Program is designed to recognize and to compensate for the loss of earnings caused by a career ending or service related disability. One potential consequence of a loss in earnings is a reduction in the amount of retirement benefits that may be available due to the Veteran’s inability to work and therefore contribute to a pension plan because of the career ending or service related disability. The SRB is part of the Financial Benefit Program and is designed to compensate for the lower pension benefits that may be payable to a Veteran who has been unable to engage in suitable gainful employment due to being totally and permanently incapacitated.
The SRB is a taxable lump sum payment.

The amount of SRB is equal to 2% of the sum total of all the Earnings Loss (EL) benefits payable to an eligible Veteran or survivor before deductions.

Eligibility - Veteran

The SRB is payable to a Veteran who:
is unable to engage in suitable gainful employment as a result of being totally and permanently incapacitated, and
was receiving EL, or would have been receiving EL except for other sources of income which raised the Veteran’s income above the maximum limit, and
ceases to continue to be eligible for EL upon:
reaching age 65, or
no longer being totally and permanently incapacitated ie: recovers to a point of being able to be gainfully employable (see Totally and Permanently Incapacitated).

http://www.veterans.gc.ca/eng/about-us/policy/document/1093#anchor48716

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Re: ELB 2% per year after 3b release?????

Post by 861Cook on Mon 28 Nov 2016, 22:26

2% pay of lump sum at 65 is to 2% that VAC takes off you ELB because you do not contribute to CPP anymore. in my case is should get a lump sum approx 10K taxable.
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Re: ELB 2% per year after 3b release?????

Post by bigrex on Tue 29 Nov 2016, 08:03

Well, the increase to 90% will also bump this up. If someone was getting the new minimum of $45000/yr for 20 years, with absolutely no COLA, their SRB would be around $18000 before taxes.
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Re: ELB 2% per year after 3b release?????

Post by Guest on Tue 29 Nov 2016, 14:12

This Supplementary Retirement Benefit is not well known among a large portion of the Veteran community.

I have yet to see other sites talk about it, and it is not common broadcast within VAC.

More awareness is needed to spread the word on this.

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Re: ELB 2% per year after 3b release?????

Post by bigrex on Tue 29 Nov 2016, 20:33

I agree Trooper. It's almost like the dirty little secret at VAC. I think one problem for this, is I do not think there have been many EELB recipients that have reached the age of 65 yet, and qualifying for the SRB.
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Re: ELB 2% per year after 3b release?????

Post by Dannypaj on Wed 30 Nov 2016, 05:31

Veterans benefits are not well known period.
Unless your injured, you are probably not worrying about VAC shit, your probably  worrying about your career.
Guys/Gals who are still serving have no clue about VAC as much as we CSAT members do.
I know,  I spoke to some of my peers whom are clueless about the NVC.


Last edited by Dannypaj on Thu 08 Dec 2016, 20:47; edited 1 time in total
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Re: ELB 2% per year after 3b release?????

Post by bigrex on Wed 30 Nov 2016, 07:37

Honestly, I would love for CSAT to go across the country, to all the major bases, and hold seminars for those still serving, to inform them of what benefits are available to them if they are injured. I think they would be more receptive about the possibility, if they are hearing it from someone who walked in their boots, and not some nameless VAC bureaucrat.
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Re: ELB 2% per year after 3b release?????

Post by Guest on Thu 01 Dec 2016, 09:23

good idea buds . that would be something right up my ally for Gagetown anyway . face to face is my thing . love to get 15 - 20 minuets in a scan seminar ALWAYS wish I could .

the SRB has been brought up a few times here ive used it as one of the reasons to apply for ELB more than once .

propat

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Re: ELB 2% per year after 3b release?????

Post by DCHD27 on Fri 02 Dec 2016, 06:49

Propat go to the scan seminar they don't check name. I did in Trenton after I was retired 5 year to see changes I used my questions as if I was asking about a retired friend not me.

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Re: ELB 2% per year after 3b release?????

Post by Guest on Fri 02 Dec 2016, 18:36

ok DCHD27 thanks buds but I was actually referring to speaking at the seminar . probably should have clarified that sorry buds . thing is speaking to people at their homes with my laptop showing people everything opens eyes . they here stuff they haven't hared before from people from like DVA that you are showing them from DVAs own website .

one person at a time is comfortable but slow and time consuming . it helps more than that little bit as on two separate occasion's ive talked to vets who got help from people ive help so really 3 little bits maybe more . they help two friends and so on.

thing is having a larger group although not as comfortable you can obviously help more people in a lesser way I believe as people pick things up better one on one when you can show them where all the info is and how to read and navigate and read it that time constraints and the larger group in a seminar will likely not allow for .

ya know the whole teach a guy to fish thing .

but the biggest reason to do this and the ONLY reason I would do this is for the most at risk . those that will not or may not be able to work again .

yes the info no one will tell them or stress to them the importance of things like say CPPD or DTC but I think more importantly stressing to them not to wait one second to apply for any benefits they are entitled to .

explaining to them how much easier it is while they are still in with their current medical staff than with their new doctor should they be lucky enough to get one in a timely manner . especially for any benefits that may be time sensitive .

been to one scan seminar and the only question I asked and I asked it a lot since I already had ALL the benefits I qualified for at the time was .

why did you not mention this .......

and I asked that question A LOT !!!!

it was a fracking circus but with some good info thrown in for the healthy and a little for those that may be able to work again .

the best time to get to these people to show them how fracked the system is and how best to be prepared for it is to get to them before they get out .

propat


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