Is ELB really equal to SISIP in ALL cases ????????

my concern is having them changing things that aint that bad because these fracking guys can make em worse .

you me sure make the change I'm comfortable with that but these frackers no fracking way . ya sure they would stop the cap but then maybe change it to being applied to the net benefit and not gross ; the one change ive been expecting since the lawsuit ; and eliminating or changing 24 b so that they can deduct the COLA from those amounts .

heck bigrex the fracking NVC was started because vets wanted improved voc rehab and by the end of it well we did get that but look at what it cost .

just don't like these fracking monkeys fracking with stuff I really don't think is a huge problem lest they make it a huge problem .

ya see what I'm saying

propat

bigrex I'm looking at 24 a and b from the policy in regards to amount . and the policy clearly states that none of the COLA increases are to be considered relevant to the monthly benefit payable under the policy . that's including the PA .

can they ??? sure illegally . they were doing it to me for a few months after I started receiving monthly benefits until I caught on and told them no fracking way . you go back to the amounts I was getting in 2008 when I first applied and not todays amounts .

guess what ??? they changed it .

propat

From the SISIP LTD policy

"55. Reductions
a. The monthly benefit payable shall be reduced by the sum of:
(i) the monthly income benefits payable to the member under the Canadian Forces
Superannuation Act and the primary Canada or Quebec Pension Plans (including
retroactive payments);
(ii) the earned income of the member including retroactive payments, unless the member is
participating in a rehabilitation program approved by the Insurer; and
(iii) the total monthly income benefits payable to the member under the Pension Act
(including dependents benefits and retroactive payments).

b. If the sum of all monthly income benefits for any month or partial month under all sources,
including the following:
(i) The Canadian Forces Superannuation Act;
(ii) The Canada Pension Plan or Quebec Pension Plan;
(iii) The Defence Services Pension Continuation Act; and,
(iv) The Pension Act
exceeds 100% of the member's monthly pay in effect on the day disability benefits commenced,
then the monthly income benefit otherwise payable for that month or partial month under this
coverage will be reduced by the amount of such excess, except as provided in Subsection 55(c).

c. For disabilities occurring on or after 01 December 1973, any increase in monthly income benefits
from the sources specified in subsection 55(b) shall not be included in determining the monthly
income benefit under this contract, unless those increases during a given calendar year exceed
cost of living adjustment plus 10% of the benefit level applicable to any such source on 31
December of the previous calendar year. "

Well, I'm not sure about CPP(D) and the CF pension, but I know for a fact that when SISIP deducted the PA, they also deducted the COLA increases as well, even though it was against the policy. I have the financial worksheet from the lawsuit to prove it. So they may be deducting the COLA for all of them, just that the COLA amounts have been so small over the last several years, that you don't realize it.

And I realize that the COLA hasn't been above 2% in a couple of years, but when the economy improves, which I hope is soon, maybe the GoC will stop artificially deflating the COLA to save money. Because everyone, especially those living on a fixed income, knows that the actual costs of everything, have increased exponentially more than the COLA .adjustments

I was never opposed to the 2% that much to tell ya the truth when looking at the entirety of the policy . ya see I see a good trade off in the policy itself . they don't deduct COLA calcs from all the deductions . its hard to say but I believe at its inception these to parts of the policy came to be as co-dependents .

would I like to see the 2% gone sure but not at the cost of deducting COLA from my other incomes .

keep in mind the GOC does not like giving vets anything without making them over pay for it from somewhere else thus actually saving them money .

propat

I have no doubt that SISIP will indeed increase to 90% at some point. What I'm not so sure of, is will they remove the 2% cap on COLA, if ELB does? That has been ingrained in the policy since it's inception, and has likely saved the GoC a boat load of cash over the last several decades, so I'm not sure.

With regards to SISIP increasing to 90%, I have no doubts this will indeed happen. The thing is ELB falls under VAC and is allocated from this past budget. SISIP falls under the CDS where as the funds come from the Treasury board. Two different systems with the same principal. That said, I would expect SISIP to follow 12 to 15 Months from Oct 01 of this year, perhaps even sooner as this has been the case with previous changes. Also the increase will be retroactively paid from Oct 01, 2016.
I have no reference to this as of today, but it is my opinion the above will indeed happen.

I see no difference in ELB and Ltd SSIP at the present time.

But come Oct 1st then there is.  90% ELB to 75% LTD SSIP.

I thought about this a few months ago, and I applied for ELB and knew I would not get anymore income at the present time.   So, last week my CM calls me from VAC and says what's up with application for ELB, u can only be on one or the other.   Well, I told him come 1 Oct I will put in a claim for 15% ELB while I am on LTD SSIP.  If SSIP does not pay 90% then I will ask to go ELB.  He chuckled to himself and knew here is another problem.  

So, will SSIP do the right thing or will they make us beg for what is really common sense.

oh frack yup there it is . counted the 3750 as a cola calc by mistake thought I had 5 .

thanks .

well buds all the nuts and bolts are in the regs and I really hate the fact they don't come out with the legislation because they can make a piece of legislation that looks good turn to crap in a hurry .

as for the SISIP guys buds I'm thinkin they gotta get off their buts soon and get that done . I realize this is something that can be done quickly but it is getting a little late in the day .

the CDS may have a reason for changing the policy last minuet I get that but their is absolutely no reason I can see why it couldn't be announced earlier like say when they announced the ELB changes . kinda makes me a little nervous it wasn't announced then and probably will till it happens or not.

thanks again

propat

Propat, you only added 4 years of COLA. add another 2% and we'll match up. It will be interesting to see what the regulations will say in October, and whether they will remove that cap as promised. And if they do, we'll have to keep a close eye out for those on SISIP, to see if they benefit from the change as well.

21 (1) The monthly military salary referred to in sections 18 to 20 shall be adjusted annually on January 1 in accordance with the percentage increase to the Consumer Price Index, rounded to the next 1/4%, for the year ending on September 30 of the previous year to a maximum of 2% per year.

so yes it is also capped at 2% .

propat

check your vet #1 again buds I'm getting the 3750 but when I apply the COLA to that I'm getting 4059.1

vet # 2 is all good by my calcs .

propat

OK, I think the wording is confusing. It says that the imputed income is the income at release, adjusted annually until ELB is approved. But it does not clarify by how much it is adjusted, so I think it is also capped at 2%.

So take two Veterans, both with a salary of $5000/mo at release, but one goes on SISIP, and the other goes on ELB 5 years later.

Veteran #1 - $5000 - 25% = $3750. After 5 years of 2% COLA, it equals $4140/mo.

Veteran #2 - $5000 + 5 years of 2% COLA equals $5520 - 25% = $4140/mo


So as long as the COLA adjustment for SISIP and ELB is capped at 2%, it won't matter when you started, or how long you've been getting it. So if you meet guys with higher ELB payments, it's because they either had higher military pay, or fewer deductions.

do me a favor buds and read the legislation and regs and let me know if the ELB reads for your income .

income at release PLUS COLA until ELB is payable .

that's what I keep coming up with and if that's correct people are getting fracked .

propat

Actually propat, I'm not sure. Obviously they must be the same, because the people who were reinstated on SISIP had their ELB zeroed out. That wouldn't be the case, if their monthly SISIP had been lower. I know that IF I had been reinstated on SISIP, and the amount deposited at the end of the month was less than what I had been getting from ELB, I would be making it known.

by my count I'm missing applied cola on 25% of my release salary for years with the compounded way its calculated that's a few bucks . for some ive seen recently released before me and getting approved for ELB after me with bigger salaries its quite a bit more .

or am I reading it wrong ????

if so where am I off ???

propat