Earnings Loss Benefit (ELB) Increase to 90%

If you're curious hiw much you might get, I calculated my own (it's not too difficult).

Ill get about an extra $456 AFTER taxes. I was a cpl 3 in 2008 when I got out.

If you get 3000 a month Sisip LTd , 75 percent of your release salary
Your Vac ELB would be exactly the same . Both deduct cppd and cf pension. That's why all Sisip LTd clients who are ELB or eelb approved receive nothing from Vac they both exactly off set each other. Now that Vac is being raised to 90 percent this results in a 15 percent difference. Vac can't say you get cppd or eia or pia so you don't get the increase? Correct me if I'm wrong.......please

Vac ELB has the same offsets as Sisip ltd. Vac can't deduct eia or pia from the ELB nor can Sisip ltd. this is why Vac needs to provide more information because a lot of rumours are going to spread!

hey pans the most common is military pension but there are CPPD , SISIP and others .

propat

What kind of deductions would a person have anyway? Other than tax of course.

hey bigrex as I said yup its 20% of the BENIFIT sure . just like I said when this first came out and people were saying 15% thing is just putting a percentage on it can get confusing at times especially when some are thinking and posting on here we are getting a 20% increase on what they are getting now witch is completely inaccurate unless of course you have NO deductions at all.

propat

Rex has it right the letter those who received via MY VAC ACCOUNT the contents/info was only finalized yesterday! So next months letter will, hopefully, explain more.

That's why it was hard to get any correct info over the last 8 months. TB and PMO kept the info to themselves and no one knows why?

I think it was deliberate because they did not want this to be fresh meat over the summer to the press. The HoC is back next week and there is lot's of 'noise' that will make this story effectively meaningless to the press' eyes.

Honestly, right now, I wouldn't bother asking VAC anything about ELB, because the front line workers do not have a clue about what they are talking about., I know I hate waiting for answers as well, but it is better than getting incorrect or incomplete information, causing you unnecessary worry.

Armygunner, they said in the letter to us that the military salaries will be fully indexed. I can't see them not doing it but who knows!

Talked to VAC today and asked about ELB increasing from 75% to 90% of of your pre-release salary and indexing. VAC stated that the 90% ELB will be from your pre-release salary with NO indexing added on from the year you started receiving until now. In my case, I have been in receipt of the ELB since 2012 and will receive 90% of my pre-release salary from 2008 and will not receive the indexing for 2013-2016 (5.15%) Without indexing I'll receive a 9.85% increase to my ELB.

If this true what VAC told me; then those whom have had the ELB for a longer period of time will see a smaller increase. Heaven forbid if you have been on the ELB since 2006. That is a lot of indexing to lose out on. I'm hoping what VAC told me is wrong and others have a different version.

The reason they are saying it's a 20% increase, is say your current ELB amount is $4000/mo. If you divide that by 75, to get the dollar value per every one 1%, you get $53.33. then multiply that by 90, and it equals $4800. Or you can take $4000 and simply add 20%, because it also equals $4800. It works out at whatever dollar amount you use.

ya just a point on the increase amount . everyone is in different satiations . so the most accurate way to put it is it increases your benefit to 90% . the benefit is the amount before any deductions .

throwing out percentages of increases does tend to confuse and may lead some who are zeroed out by SISIP to say wholly frack I'm getting an increase of 20% of nothing witch is nothing well thanks a lot .

the increase to 90% is before any deductions so this is will be a very good increase for most . the percentage of increase relative to what you are currently getting really depend on your situation .

about 20% may be fairly accurate for those with absolutely no deduction but incredibly low and inaccurate for those with many deductions .

ya see the confusion .

for most if not all the increase will be 90% of your pre release salary minus 75% of you pre release salary .

say your pre release was 4000 . then its 3600 minus 3000 . that is 600 .

propat

yes, I got this as well on My VAC account.

Yes this is for real. Works out to be about 20% more than you currently receive.

RobbieRoyal wrote:WHAT IS THIS AND IS IT REAL got this today

On October 1, 2016 several changes to the Earnings Loss Benefit will come into
effect as a result of proposals included in the
2016 Budget
. These changes
include:
•
increasing the Earnings Loss Benefit from 75% to 90% of recipients' adjusted
military salary at the time of release, resulting in a minimum total annual income
of $44,496.00, including income from other sources; and
•
fully indexing military salaries to reflect actual cost of living increases.
We are pleased to inform you that we will begin re-calculating your Earnings Loss
Benefit as soon as the new rules go into effect on October 1, 2016.
•
If you are currently in receipt of a monthly Earnings Loss Benefit payment,
we already have the information we need to re-calculate your benefit under the
new rules. We will advise you of any changes to your benefit amount beginning
with your October payment.
•
If you are eligible for the Earnings Loss Benefit, but not currently in receipt
of a monthly payment,
we will contact you in October with further instructions
regarding the information we need to calculate your potential benefit under the
new rules.
If you have questions, please call us toll free at 1-866-522-2122.