Zero Sum 24 Months only

You got it bigrex

Yes if you go back over 5 or years but below 5 years The lawyers fees starting away for your total retro .

Example quick calc
i was owed without interest 25000.00
i was owed with interest 26790.00
but i get back 22013.00 after legal fess a lost of $4776.00
then taxes as well see just 27 months retro is a total of 9.9% interest i get back.
but i lose 7.93% interest because lawyers fees are 17.83

It's nice to go back many years and give an example Peter yes lots if interest over time. But what about start in 2007, 2008, 2009 or
2010 like myself where your firm gets $ 4776.00 of my original claw back. leaving me with a lose of 7.93% and yes after all interests and top up.

I lose out and so due many other so we don't get 100% plus like other due

What a poor example looks great on paper everyone see a higher return and more than legal would be but what a crappy example still BS in my mind

No propat. The majority of the class only received 24 months at the reduced rate, and at the end of the 24 months our files were closed because we were not deemed disabled by SISIP standards. My own example was after serving 15 years as a spec Leading Seaman, I was medically released. When I released I was paid at 45% disability from VAC ($1426 monthly). I also received a 30% superannuation of approx $1350/month. SISIP calculated my 75% mark would be $3508, minus the $2776, leaving a LTD benefit of only $732. So over the 2 years, they deducted $34800 ($17112 and $17688 respectively). That is all I will get, minus the legal fees and taxes. There will be no monthly payments from SISIP. There will be no COLA increases. I will say that I am not completely left out, because I am now rated at 90% by VAC and getting PIA and Supp, as well as EELB since Oct (I was previously zeroed out), but there are many members who are not covered by VAC and will get absolutely nothing beyond just the retroactive payments for those 24 months, but they are are paying a much higher percentage of legal fees based on the total amount of money that will be received from SISIP

so if two Members were released in 2002 at 30 years old, and were both deducted $10000 per year, but only one was deemed totally disabled after 24 months. the first member will pay 17.7% on $20000 ($3540), While the second will pay 17.7% of $110000 ($19470), but considering the second member will continue to collect the $10000 per year until he reaches 65, that will give him another $25000 without indexation, totaling $360000 that he will have received from SISIP, so that 19 grand for legal fees only represents 5.4% of his total earnings

well from what i understood from the past moast of the class were reciving sisip payments just at a reduced rate due to dva clawback.only after the judges dicision the clawback was stopped just the sume zeroes at that time were still being clawed back fore some reason.so all thoes that were getting a reduced ammount would bump the numbers up a lot as it was the majority of the class.93% well i dont know about that but it could be close.

propat

I have done the calc's JD and surprisingly it is actually a good deal, unfortunately I do not work for the CRA and can only assume what tax implications will arise. That is the part that has my guts in a knot, I find the members in here have solid info and like most I would just love to see this excel sheet Peter is going to post and then the mud should slide off or cake on even harder lol, but hey JD I respect your assistance brother

RR call Peter let him help you clear it up and report your finding here

That was my FREAKING question REX how do we go from 900 (+) 250 Zero Sum Members to 93% have received monthly entitlements, just like all this tax jargon I am so Fu((ed up that the mud is spitting me out of its pile.

Plus the 2% for taxes on the legal fees.

Now you get it bigrex. Those who are only getting 2 years retro are paying 7.5% for the retro and 7.5% for going forward LTD but are not getting the forward payments.

That's probably right, but according to Peter, in order for those getting future payments to keep from paying legal fees on those amounts, those of us that are only getting the retro active payments for 2 years, have to pay double the lawyers fees, to get our limited benefits. I could understand if we were all getting future payments, but we're not. Since there is around 450 million set aside for future payments, and only roughly 1000 members entitled to any of it, that equates to an average of an additional $450000 per veteran, that will be free of legal fees, while I have to pay 17.7% to get back my $35000.

The 93 percent I think are those out of 100 percent identified so for to receive forwarding monthly payments! So 7 percent of those identified hadn't received their monthly payments so far, that is what I understand, but then again, feel free to correct me.

Well they said that there were 900 zero sum clients identified, and even if that increased to 1150, when it was decided to go back to 1976. that is 1150 out of the 7500 class members, that even have the opportunity to be reinstated, but that doesn't mean that many will actually qualify. That is only 15.3% of the class. How the hell did they figure 93% are getting future payments?

You are right. I've seen this on other forums tonight. Go and check the other comments.

No no no, it as been asked to the Court for fees of 15,7 percent, + 2 percent hadded to pay GST and HST for the fees, so a total of 17,7 percent.

The 17,7 percent fees is from 1976 to 2012 April I think.

What the 7,5 percent is this: the law firm was aloud to ask for a percentage fee on everything we got back to what the got us, so even a pourcentage on the money we get till we are 65 years old.

They are not asking that they are asking the 15,7 plus 2 pourcent instead for up to this year.

They have had calculated the total amount of everyones money till 65 from start far as 1976 and with the number GOC told them it would be, they say the 15,7 percent asked equals 7,5 percent of the total till everyone got to 65.

So they chose to ask 15,7 plus 2 percent GSTHST, 17,7 percent of what will come off past money. Again, for the majority who got their monhtly checks coming in, I thing 93 percent of all of us, they thought it would hurt less people with the first choice.

I'm no lawyer, but it is what I understood and feel free to correct me, Patrick.

Let me get this straight:
For a 24 month clawback member they are paying the 17.5% on the clawback + 7.5.%???