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New Pension for Life Delay

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New Pension for Life Delay

Post by Steelgunner on Sun 18 Feb 2018, 15:37

New Pension for Life Delay

Okay the liberals are working out their BS plan, estimate of cost, and are now realizing that the boy Prime Minister of Canada canít fulfill his campaign broken promises. †Their plan is to delay it till April 2019 to help them in the next election, in order to hope to buy the Veterans vote that can influence popular support among the different groups in the country.

Keep this in mind and donít forget how the Liberals have played with us over the last three years when you vote in the upcoming next election.

I feel very strongly about my next comment and I want you all to talk about it and spread it around all other social media.

We are going to start to demand for back pay from the Liberals announcement for this Pension for Life starting point of Dec 2017 till itís enacted April of 2019. † Donít let them off the hook, start beating the drums and get the message out that we will not accept this delay. Spread this message around social media.

Tell your local MP you are tired of bending over and getting it constantly up the ass.

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Re: New Pension for Life Delay

Post by propat on Mon 19 Feb 2018, 07:42

this plan is an overall reduction in veterans benefits of 11-$1200 dollars for the new 3rd class of vets ,all those after the implementation date . that's how it reads right now buds . I say scrap it all together or remove even if they scrap the elimination of the CIAS then even thou not an improvement at least it will not be a significant overall reduction in vets benefits .

not sure if back pay actually matters a lot given the math . the further you backdate the math the smaller your monthly amount would be .

propat

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Re: New Pension for Life Delay

Post by Steelgunner on Mon 19 Feb 2018, 11:39

At the very least they should back pay the amount you are approved of in your monthly amount with no penalty!

Propat your right about a Third class Veteran coming April 1st 2019. †Happy April Fools New Vets!

Liberals talk about making the Pension better for Veterans, I just donít see that happening with their misguided plan that is really only renaming programs, deleting benefits, and lowering monthly payment amounts. †Its like the shell game, move it around and call it the new and improved pension for life. †I call bull shit on you Liberals.

Also, am I reading this right with the upcoming April 1st 2019 enactment they are going to offer to the NVC Vets an option of taking the lump sum amount of this offer or a monthly payment? †

If thatís the case, who here is good with financial training would recommend which option? †I would think investing the lump sum in a proper investment portfolio would be better then monthly?

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Re: New Pension for Life Delay

Post by bigrex on Mon 19 Feb 2018, 18:52

Technically they are looking at full back pay, by calculating how much money you would have received under the new plan, back to your initial approval date. But instead of paying you that money, it's going to be used to reduce the amount of money that you will need to pay back, from any previous lump sum awards. The Liberals tell the general public that say that we aren't having to pay back those DA payments, but that is a blatant lie! By reducing the future monthly pensions, by the amounts already received, even if it's spread out over your lifetime, is having to pay that money back. in fact, if you live beyond what they calculate to be your life expectancy, any monthly pensions beyond that age, will be reduced for no reason.

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Re: New Pension for Life Delay

Post by Steelgunner on Mon 19 Feb 2018, 19:13

bigrex wrote:Technically they are looking at full back pay, by calculating how much money you would have received under the new plan, back to your initial approval date. But instead of paying you that money, it's going to be used to reduce the amount of money that you will need to pay back, from any previous lump sum awards. The Liberals tell the general public that say that we aren't having to pay back those DA payments, but that is a blatant lie! By reducing the future monthly pensions, by the amounts already received, even if it's spread out over your lifetime, is having to pay that money back. in fact, if you live beyond what they calculate to be your life expectancy, any monthly pensions beyond that age, will be reduced for no reason.


So I am trying to in my mind put what the government has done and apply it to a real world on the civilian side of the street.

Letís say an insurance company paid you out a certain amount for a claim and you where on disability for life. †Then 12 years later they said they are going to revamp the system and pay you less, subtract the previous given amount and then give you a lesser amount that would be currently approved under the policy. †Oh, did I mention both parties signed an agreement at the start of the policy. †I think a judge would have a field day admonishing the Insurance Company and correcting them on the correct way of doing business within the law.

So why are we being treated differently?

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Re: New Pension for Life Delay

Post by BinRat on Mon 19 Feb 2018, 20:23

Well this is how I see it for my example, my numbers are hypothetical..

So in this scenario, Jan 2016 medically released 50 year's old 100% ($350,000) <-- Just a number not actual

So in April 2019, they figure he gets $1150 a month and they go back to released date
Jan 2016 so we are talking 40 month's @ $1150 a month ($60,000) to April 2019 then 34 year's 408 months
@ $1150 ($469,200)

So now our Soldier would get $529,200 but then they'll deduct his DA Award of $350,000

So now we are left with †$179,200

Then they'll divide that again by time to age 84 = (34 years x 12 months = 408 months) $439.22 a month PSC

Or this is where he could take the lump sum amount of $179,000 but will not get a tax free PSC since he took the lump


This does not calculate or even look at how it would be with the APSC or (CIA/CIAS) thats a different thing †and not looked at

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Re: New Pension for Life Delay

Post by propat on Tue 20 Feb 2018, 06:49

hey buds not sure exactly how to apply it to civi life but here is as close as I can get .

guy gets hurt at work . he receives pain and suffering buyout and LTD .

then they change the system and the next guy that gets hurt at work recives a monthly pension that is equal to the buyout taken out over time @ $1200.00 a month .

however now his LTD is reduced by $1200.00 a month .

best I can do buds this does not translate easy .

propat


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Re: New Pension for Life Delay

Post by Armygunner on Tue 20 Feb 2018, 13:50

@BinRat Or this is where he could take the lump sum amount of $179,000 but will not get a tax free PSC since he took the lump

So you are saying if you take the Lumpsum it's taxable vs if you take it monthly it's not?

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Re: New Pension for Life Delay

Post by BinRat on Tue 20 Feb 2018, 15:32

If he takes the Lump sum of the remainder in this case $179,200 it should still be non-taxable

but that's a good question if someone has facebook to send to the OVO for his meeting coming up
just to confirm that it is still non-taxable.

Also a question like this, since I haven't figured it out, would be, Since the CIA/CIAS is a LIFETIME monthly
payment that is getting changed to the APSC Non-taxable, can that also become something one can take
as a lump sum as well or Not ?? Or Only the PSC is calculated out to be a choice of taking it as a Lump Sum

I don't have face book so I can't post it to his page..


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Re: New Pension for Life Delay

Post by bog6 on Tue 20 Feb 2018, 19:10

so if you are DEC and dated to 2099 (just a number), will they cancel that amount also and redo??

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Re: New Pension for Life Delay

Post by Steelgunner on Wed 21 Feb 2018, 12:05

Binrat I have no idea in regards to calculating the amounts or answering the question about lump sum requirements in order to cash out or if in fact that you can even cash out the full amount.

VAC just has talking points for the public, they are not providing the formula for calculations so we can double check the correct amounts. If you recall the first additional lump sum payment they did. †We speculated for a year and all of us gave our two cents which in the end the amount was less then expected. †

All I can say right now is try your best to keep the pressure up on the Government and VAC, no matter how small your voice is. †Remember public opinion is where it hurts the current Government in power and remind the liberals on their broken promises and out right lies about this BS new and improved Pension for Life.

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No Money for Vets but lots for his friends>>>

Post by bog6 on Thu 22 Feb 2018, 22:49



Last edited by bog6 on Thu 22 Feb 2018, 22:50; edited 1 time in total (Reason for editing : add title)

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Re: New Pension for Life Delay

Post by pinger on Tue 27 Feb 2018, 16:53

Steelgunner wrote . . .

" Keep this in mind and donít forget how the Liberals have played with us over the last three years when you vote in the upcoming next election. "

I'll add this. Their all crooked. Every darn party.
And it's pretty damn rare when any politician's integrity doesn't have a best/before date.

But remember to at least VOTE folks.
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Re: New Pension for Life Delay

Post by XMedic on Thu 07 Jun 2018, 18:53

http://www.cbc.ca/news/thenational/national-today-newsletter-iraq-vote-g7-cost-nicaragua-1.4691911 . But Veterans are asking more than we can give right now! Trudeau!!

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Re: New Pension for Life Delay

Post by SIGS PIGS on Mon 11 Jun 2018, 14:12

good afternoon Binrat,

can you take a look at my situation and give me a ball park figure where I stand with this Pension for Life deal?????

2010 Received 10% 27,607,
2012 Received 45% 131, 988.79
2013 Received 35% 104,505.79
2015 Received 20% 30,669.15
2016 Received Top up of 41,847
336,117.00 approx


I am 100% Disabled and I am completely confused as how to figure out what will happen next year 2019 Apr 1st. I know I am sending this req to binrat but anyone who can figure this out would be much appreciated,

thanks,

SIGS PIGS

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