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Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by Guest on Sat 12 Jan 2013, 07:33

boys a one time bursary to anyone we see fit would be better ore cash as well.if their is 7000 class members then thats a one time payment of 1428.57. i think at this point we are just trying to pick fly sheeeit out of pepper right now but it is worth pointing out.

propat

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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by Guest on Thu 10 Jan 2013, 14:17

outofthecountry, Colzula offered to manage the funds! Smile sparrow

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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by outofthecountry on Thu 10 Jan 2013, 14:10

Yeah, sure SISIP should manage the bursary fund free of charge and ensure all class members' kids gets this bursary. SISIP Manulife has profited much from us

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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by Tracker on Thu 10 Jan 2013, 14:01

is that $10M bursary amount included in the $887M?

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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by F foundry on Thu 10 Jan 2013, 13:55

yes and you will have to qualifiy for it as well and who will set those high standerds SISIP? LOL
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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by outofthecountry on Thu 10 Jan 2013, 13:48

Peter indicated on his post here earlier that the bursary fund was a "contentious" one. I guess we are lucky to even have it thrown in.
But it would have been nice to see all the kids of the class members fully entitled under this bursary fund. (There is one fellow on here who has 7 kids and it would be great if they all would have a bursary entitlement guaranteed).
I also think AUCC is "not at arms length" to manage this bursary fund with Mr Toope as President.

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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by Guest on Thu 10 Jan 2013, 13:27

I don't like charity fund the money always goes places other then where it was intended. I love giving to charity and my wife and I give to many. But we like to see our money spent wisely and give to direct causes that influence life's. Not spent most of it on admin and pockets of war lords and executives.

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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by outofthecountry on Thu 10 Jan 2013, 13:19

Just Google Stephen Toope AUCC. But Appendix A of Peter Driscoll's Affidavit
also shows Stephen Toope as the president of this bursary management

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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by Greatfoot on Thu 10 Jan 2013, 12:38

Conflict of interest, if it can be substantiated.
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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by outofthecountry on Thu 10 Jan 2013, 12:24

It is interesting to note that Stephen Toope, the representative lawyer for DND, is also the president the board for AUCC, the organization that will manage the bursary fund.

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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by Ron Cleroux on Thu 10 Jan 2013, 07:25

Each vet is only entitled to one time entitlement section 10 para H

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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by outofthecountry on Thu 10 Jan 2013, 01:28

The bursary is also not taxable since it will be in the kid's name.
And the RESP contribution for each kid is always still available to cover more to the costly tuition and books etc
My family will be tapping into this bursary until it expires. I like it more now

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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by Teentitan on Thu 10 Jan 2013, 00:30

http://veteranvoice.info/Archive/SISIP_JAN13_Proposed%20Order.pdf

Para 10

After 7.5 years the bursaries go to NVC vets whose ELB was clawed back until the bursary runs out.
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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by bigrex on Wed 09 Jan 2013, 23:50

Also, it doesn't state what will happen to the remainder of the 10 million at the end of the term. Does it get sent back to the GoC? Does the law firm keep it? And what about the interest that will be gathered on these reserved amounts? I think adding those amounts to the settlement award greatly inflates the numbers. These future payments should fall under SISIP's budgetary umbrella, since they will still have report to the government how many active clients they have, and how much they require from the treasury board each year to cover the payments
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Re: Why are we putting 10 million dollars into a Charity fund and Not VETS pockets??????????????

Post by bigrex on Wed 09 Jan 2013, 23:40

it may not be 90%, but a good portion won't be able to use it, especially since it has a shelf life of only 7.5 years. That means that if you intend on using it for your kids or grandkids, they have to be at least 12 years old as of right now. If it works out to $1300 per Veteran, then why not just give us that in cash and we can use it as we choose. People like Dennis witha toddler could put that money into an RESP (registered education savings plan), and make monthly installments to it. Then when his daughter is ready to go to college, the government matches his saving s dollar for dollar to pay for a real education. $1300 won't even cover a year long course at a community college these days. Plus there are already bursaries available for going to school. My wife went back to school a few years ago and she got almost $6000 in non refundable bursaries, so it's not like these amounts are going to be life changing.
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