Increased Disability Award & Retro

Is the Increased Disability Award & Retro still on going?

good morning,

it seems everyone has fallen off the Map!!!!!!!!!!!

is anybody out there,

SIGS PIGS

well the way I read the ENTIRE legislation not just this one part . they will reduce the 2017 table year for year by the COLA amount compounded . subtract what you received as a payment and then apply either the COLA or interest witch ever applies to you to the amount still outstanding .

all the numbers will be the same for equal percentages for the same year except for those that took there buyout over a period of time they will be different .

of course ive been saying this for some time now just because I don't see anything in the new or old legislation that precludes this part of your award from being adjusted as every other part is .

jmo

propat

I also agree with the examples provided by Gardener.

They are starting at the max of $360,000 and they are going to reduce that amount of $360,000 each year going back to 2006.

Reduce the amount to reflect the CPI for each year going back.

That is why they say or use the word adjusted.

That sure looks like A - B

That is why Gardener's example looks correct, he adjusted and reduced the max amount each year going back for his calculation.

I think a lot of people are thinking this retro to be a Top up, I don't think it is going to be a Top up, I believe it will be a supplementary payment, therefore, not all will get the same amount, even though you have the same percentage amount.

But again, I'm no expert and I'm guessing just like the rest of you. JM0

i had a few good chats with vac and according to what i been told if you 260k back then than you will go up to the 360k minus what you already got so that would not be 50k but thats what they told me not sure will have to wait

I totally agree with you VRI. It is very disheartening. This small increase to the DA is certainly not what alot of us were expecting, especially after listening to different comments the MVA has said over the past while. It will be interesting to see their calculations in April.

Gardener, yeah I think you're unfortunately correct.

If you did that same calculation for 20% at ANY year, I think you'd get roughly the same number, around $8500.

I think the max payout would be around $50k, for anyone who got 100%, which seems unfair.

I got a 100% award in 2008. I think I'll get around $50k. Somebody who got the same award in 2015 will get the same $50k, except they got $310,000 for their award and b I got $260 for mine.

Just creating two sets of vets again.

If you want to not pay us COLA, sure ok. But you should then pay us the missing interest that we would have gotten if we had been paid that money at the time.

I mean, Jesus, look at the stock market returns between 2008 and now. I could've more then doubled my money just by putting it in an RRSP.

Its not like we're getting a NEW entitlement. We don't need to qualify for anything new. If you got a DA, you get topped up. This suggests at least an implicit acknowledgement that we were underpaid at the time. Thus, if we were SUPPOSED to get the money WHEN we were, I feel like the government has to take into account the time value of money. $50k in 2008 was worth quite a bit more then $50k in 2017.

If we underpaid CRA in 2008, you'd better believe we'd be charged interest. Seems like the same in reverse should happen.

Hi. Just throwing out there what I came up with. I reread the legislation (posted by 6608) to try and figure out the formula . It mentions that A (amount of award as of April 2017 that represents your % of disability) and REDUCED for every calendar year from 2016 by the CPI. THEN Subtract B which is the disability award you received

Example. 20% award in 2014. ($60255)

New value 2017. = $72000

2016. 72000 x 1.4 %( CPI)= 1008
2015. 72000 X 1.1%(CPI) =. 792
2014. 72000 X 2% (CPI) = 1440

Total CPI is $3240. Now subtract this from $72000 and value is $68760. (A)

$68760 (A) - $60255. (B) - which was the original amount received in 2014. The total amount to get back from VAC would be $8505. 😞 .... Not sure if subtracting CPI for year from $72000 is correct or perhaps it should be eg.

2016. 72000x1.4%= $1008
2015. 72000-1008=70992 X 1.1%= $780
2014 . 70992-780=70212 X 2%=. $1404

A. - $72000 - (total CPI (1008+780+-1404)=$68808
B - 20% award 2014 = $60255

A- B is $68808 - $60255 = $8553

So much info out there up to individual interpretation. This is how I see it today. Seem to change daily. LOL. Not sure what VAC has in mind based on the different comments people have received from VAC. Just have to wait til April. Cheers!!!

ya sigs pigs from what i seen and been told the amount your owed lets say the 8,392.02  then you would use the indexing from the start year of settlement and apply to what your owed.   example lets say you got in 2010, the difference owed to you was 8,392.02 plus indexing forward on that amount so interest on 8,392.02 would be 151.06 for 2010, 243.37 for 2011, 125.88 for 2012, 75.53 for 2013, 167.84 for 2014, 92.31 for 2015, 117.49 for 2016, 109.10 for 2017
for grand total of $9,382.29.  and we not sure if they going to compound the interest but this is as close to the numbers ball park as we could find out. but its the Government who knows what will end up happening between now and then. will find out in a few more months

Remember this everyone? When the Prime Minister in waiting, made oodles of promises to the veteran community.


https://www.liberal.ca/realchange/veterans-pensions/

The website is still active but you can no longer sign the petition or whatever it was.

Oliv617 wrote:I noticed when I got my monthly VA payment, that it had gone up. Anyone know why?


And can I change my mind, get a one time payout instead of the monthly payments?

Oliv, the increase in your VA payment this January is due to COLA (cost of living adjustment) which is added every new fiscal year to your monthly pension and no you can not change your mind and get a one time payout instead of monthly payments.

Good morning evryone,

Lots of good info lately,thank you for sharing

so if i understand it correctly, lets say I received 300,000 broke down between 7 awards
360,000 - 300,000
60,000
so I add CPI for each year so 210 I received 10 percent
360,00 x 10% = 36,000 -27607.97 = 8,392.03 plus CPI = 9474.60
would add 1.8, 2.9, 1.5,0.9 2.0 1.1, 1.4 and 1.3

not sure if I am reading this correctly,
anybody see something different,

thanks,
SIGS PIGS

I noticed when I got my monthly VA payment, that it had gone up. Anyone know why?


And can I change my mind, get a one time payout instead of the monthly payments?

consumer index for interest

2008 - 2.3% ,   2009 - 0.3%,    2010 - 1.8%,    2011 - 2.9%,    2012 - 1.5%,    2013 - 0.9%,    2014 - 2%,    2015 - 1.1%,    2016 - 1.4%

2017 - 1.3%   from what i been told this is the interest that they going to use but its GOC so hard to say but thats as much as i found out hope it helps in some way depending on what year you got your money depends on how much you add up and i am not sure if its compound interest or just added up.  either way this should get you in the ball park.

basic breakdown of numbers looks like this incase you can't get the above mentioned

1% = 3600, 2% = 7200, 3% =10800, 4% = 14400

then it goes different

5-7% =18000, 8-12% = 36000, 13-17% = 54000, 18-22% = 72000, 23-27% = 90000, 28-32% = 108000, 33-37% = 126000

38-42% = 144000, 43-47% = 162000, 48-52% = 180000, 53-57% = 198000, 58-62% = 216000, 63-67% = 234000,

68-72% = 252000, 73-77% = 270000, 78-82% = 288000, 83-87% = 306000, 88-92% = 324000, 93-97% = 342000,

98-100% = 360000, so find out what % you are and take what you already got from vac from these numbers and you should have ruff idea what you owed plus the consumer index for each year that you owed