Canadian Soldiers Assistance Team (CSAT) Forum

Diminished Earnings Capacity (DEC)

Page 1 of 2 1, 2  Next

Go down

Re: Diminished Earnings Capacity (DEC)

Post by Artie Simm on Wed 15 Aug 2018, 18:21

Nemo wrote:You are right Bigrex. EI has limits as to when you can apply for it. And EI for medical reasons is very limited.  IF I understand what they have written on their site, if you have not worked and paid into EI in the last 52 weeks you get nothing whether healthy or sick. And if on sickness benefits for EI that lasts a max of 15 weeks.
thx ,I looked into all that too.to be safe I'm going to apply in case VAC pulls the ELB safety net out from under me
avatar
Artie Simm
CSAT Member

Number of posts : 310
Location : Earth
Registration date : 2017-02-16

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by Nemo on Wed 15 Aug 2018, 15:05

You are right Bigrex. EI has limits as to when you can apply for it. And EI for medical reasons is very limited. IF I understand what they have written on their site, if you have not worked and paid into EI in the last 52 weeks you get nothing whether healthy or sick. And if on sickness benefits for EI that lasts a max of 15 weeks.
avatar
Nemo
CSAT Member

Number of posts : 364
Location : canada
Registration date : 2010-08-13

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by bigrex on Wed 15 Aug 2018, 13:48

I believe there is a time limit to apply for EI, after losing a job, so I don't think you can just bank it, in case your ELB is cut off after a few years.
avatar
bigrex
CSAT Member

Number of posts : 3376
Location : Halifax, Nova Scotia
Registration date : 2008-09-18

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by Artie Simm on Wed 15 Aug 2018, 00:38

Nemo wrote:I suggest contacting VAC and ask them about your LIRA.  I can give my interpretation of what is my best guess but suggest you  go directly to VAC for the answer. I would go to my VAC account and use the secure messaging and  then you would have a written reply to refer to.
well l cant draw from my LIRA for a few years yet, so I'm too concerned.


Last edited by Artie Simm on Sat 18 Aug 2018, 00:37; edited 2 times in total
avatar
Artie Simm
CSAT Member

Number of posts : 310
Location : Earth
Registration date : 2017-02-16

Back to top Go down

LIRA

Post by Nemo on Tue 14 Aug 2018, 23:50

I suggest contacting VAC and ask them about your LIRA.  I can give my interpretation of what is my best guess but suggest you  go directly to VAC for the answer. I would go to my VAC account and use the secure messaging and  then you would have a written reply to refer to.
avatar
Nemo
CSAT Member

Number of posts : 364
Location : canada
Registration date : 2010-08-13

Back to top Go down

Incomes considered for ELB

Post by Nemo on Tue 14 Aug 2018, 23:46

Taken direct from the ELB form are the incomes considered when calculating how much ELB you will get from VAC after they deduct sources of income from the following

CPP or CPP disability
QPP
SISIP LTD
CFSA
PUBLIC SERVICE SUPERANNUATION
GOVERNMENT EMPLOYEE COMPENSATION
WCB
ECONOMIC LOSS PAYMENTS FROM LEGAL LIABILITY e.g. Court damages, auto injuries
OTHER EMPLOYEE PENSION PLANS
EI
EMPLOYMENT EARNINGS
SELF EMPLOYMENT EARNINGS

avatar
Nemo
CSAT Member

Number of posts : 364
Location : canada
Registration date : 2010-08-13

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by Artie Simm on Tue 14 Aug 2018, 19:33

Nemo wrote:
Artie Simm wrote:
Nemo wrote:****And I must correct myself . Your LIRA will be considered as income when they calculate ELB
how can that be when l cant access the Lira money for years to come, or are you just talking about the cash portion
true but in addition to the locked in portion there is a few grand cash given up front ,does that money have to be declared as l have instant access to it...once l get it

If you are not eligible yet to withdraw from your LIRA then you are not getting income from it. Then it would not be considered as income.  
avatar
Artie Simm
CSAT Member

Number of posts : 310
Location : Earth
Registration date : 2017-02-16

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by Nemo on Tue 14 Aug 2018, 13:24

Artie Simm wrote:
Nemo wrote:****And I must correct myself . Your LIRA will be considered as income when they calculate ELB
how can that be when l cant access the Lira money for years to come, or are you just talking about the cash portion

If you are not eligible yet to withdraw from your LIRA then you are not getting income from it. Then it would not be considered as income.
avatar
Nemo
CSAT Member

Number of posts : 364
Location : canada
Registration date : 2010-08-13

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by czerv on Tue 14 Aug 2018, 11:56

Be very careful dealing with those morons from VAC.
If Sisip/Manulife is deducting/offsetting/withdrawing your CAF Pension, CPP(D), etc., make it clear to VAC. Otherwise, those geniuses from VAC will start doing it again and .. try to sort that one with them ... . Good Luck.
Just my two cents

czerv
CSAT Member

Number of posts : 240
Location : Ontario
Registration date : 2013-05-15

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by Artie Simm on Tue 14 Aug 2018, 11:33

Nemo wrote:****And I must correct myself . Your LIRA will be considered as income when they calculate ELB
how can that be when l cant access the Lira money for years to come, or are you just talking about the cash portion
avatar
Artie Simm
CSAT Member

Number of posts : 310
Location : Earth
Registration date : 2017-02-16

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by Nemo on Tue 14 Aug 2018, 11:18

But ELB will not use your RRSP income or TFSA or other personal investments. So if you have a stock you bought for 5k and you go boom to 500k then they wont use that to calculate your ELB.
avatar
Nemo
CSAT Member

Number of posts : 364
Location : canada
Registration date : 2010-08-13

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by Nemo on Tue 14 Aug 2018, 11:16

****And I must correct myself . Your LIRA will be considered as income when they calculate ELB
avatar
Nemo
CSAT Member

Number of posts : 364
Location : canada
Registration date : 2010-08-13

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by Nemo on Tue 14 Aug 2018, 11:10

Yes. There is an actual form. Go into your My VAC account. Then click on forms. Then scroll down to Application for Earnings Loss Benefit. Click on that and voila. Just fill it in and submit it. It also shows all forms of income they consider when seeing how much they will give you.
avatar
Nemo
CSAT Member

Number of posts : 364
Location : canada
Registration date : 2010-08-13

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by Artie Simm on Mon 13 Aug 2018, 22:19

Nemo wrote:No your LIRA is not considered in ELB /DEC. Things like Sisip LTD are as well as CPP, QPP, and CFSA. Just download the form for ELB. Right on it it will list all the sources of income that they want you to report. If it isnt on there then it is not reportable and not considered as income for VAC purposes.
there is an actual form to apply for ELB ? I just told my CM I'd like to apply ,never ever saw any paperwork other than VAC asking for sisip ltd, disability pension and work pay stubs
avatar
Artie Simm
CSAT Member

Number of posts : 310
Location : Earth
Registration date : 2017-02-16

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by Nemo on Mon 13 Aug 2018, 20:55

***NOTE I WAS WRONG HERE. LIRA IS CONSIDERED PART OF ELB calculations. *** No your LIRA is not considered in ELB /DEC. Things like Sisip LTD are as well as CPP, QPP, and CFSA. Just download the form for ELB. Right on it it will list all the sources of income that they want you to report. If it isnt on there then it is not reportable and not considered as income for VAC purposes.


Last edited by Nemo on Tue 14 Aug 2018, 11:21; edited 1 time in total
avatar
Nemo
CSAT Member

Number of posts : 364
Location : canada
Registration date : 2010-08-13

Back to top Go down

Re: Diminished Earnings Capacity (DEC)

Post by Sponsored content


Sponsored content


Back to top Go down

Page 1 of 2 1, 2  Next

Back to top

- Similar topics

 
Permissions in this forum:
You cannot reply to topics in this forum