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Post by Ireland102 on Fri 16 Nov 2018, 13:32

I was wondering how VAC is going to calulate the lump sum payment for the PFL, i understand how the formula works but there is no example of how a lump sum will given and minister oregan never gave an example only the percentages, for ex if you are intilted to $720 under the PFL and you are 41 would the lump sum payment for PFL be $354K?

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Post by bigrex on Fri 16 Nov 2018, 14:34

Apparently, if a future Veteran gets a 100% assessment, they will be given the choice of the $1150/mo, or the $360000+ Lump sum award. But for those who have already received LSA's, it's looking like they are going to get screwed over, because they were never given the opportunity to receive the full pension, they were entitled to. In fact, the older they were, or or closer to 2019, when they got their award, could result in them not even being eligible for even a reduced PFL. My father for example, has received 80% through Lump Sum Awards, and he's going to be 70 by the time the PFL is enacted, so I cannot see any scenario where he will get a PFL.
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Post by Armygunner on Sat 17 Nov 2018, 01:01

bigrex wrote:Apparently, if a future Veteran gets a 100% assessment, they will be given the choice of the $1150/mo, or the $360000+ Lump sum award. But for those who have already received LSA's, it's looking like they are going to get screwed over, because they were never given the opportunity to receive the full pension, they were entitled to. In fact, the older they were, or or closer to 2019, when they got their award, could result in them not even being eligible for even a reduced PFL. My father for example, has received 80% through Lump Sum Awards, and he's going to be 70 by the time the PFL is enacted, so I cannot see any scenario where he will get a PFL.

Good point, I never even thought about this. I'm sure there will be a lot of us Vets scratching our heads when the PFL letter of calculation comes out.

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Post by Ireland102 on Mon 19 Nov 2018, 15:28

So if someone has recieved 85% under the NVC, will they be entitled to another lump sum under the PFL, I had several claims, 2007, 2009, 2010, 2011, 2012, 2014, 2015 2016 all adding up to 85%, I calculated it and from my number I got $720 a month under PFL a month, I received a total of $287K, will the $720 be multiplied by 12 months then my current age when the new PFL kicks in will be 42, it will be 41 years until I turn 83. So would they pay me a lump sum of $720 X 12= 8640 X 41= $354K for a lump sum payment under PFL? Or is there going to be black magic performed by VA ?

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Post by exarmyguy on Mon 19 Nov 2018, 18:00

remember to subtract your original lump sums of what you say were 287k plus the other one they gave us to add to it. i am not sure if they are using 83 for guys or just the women and maybe 79 for guys for years left to live. i also talked with dva and they said may be close to april 1 2019 before the letters come out telling us what if anything we will get.

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Post by Ireland102 on Mon 19 Nov 2018, 19:25

PFL  15426711

I calculated mine, if I was offered a lump sum what would they offer me based on my previous buy outs?

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Post by exarmyguy on Mon 19 Nov 2018, 19:46

well to be honest I understand the calculations however the max I understand is 360k no matter what. please correct me if wrong guys.
so if it worked out to 450k over 41 years wouldnt matter they would just take 360k and subtract what you already got and that would be what you get. now saying that they have a way of twisting numbers to make your head pound.

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Post by bigrex on Mon 19 Nov 2018, 20:26

That's the thing. Right now it's unclear if NVC Veterans will be eligible to get an additional lump sum payment, or if we will be forced to accept the vastly reduced PFL pensions. Right now, I'm looking at roughly a $130 a month PFL, for the next 30+ years. That is barely enough to take my wife out for a nice dinner once a month.
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Post by Ireland102 on Mon 19 Nov 2018, 23:46

Why would they go public with something they haven’t sorted out in a due diligent manner? Why leave questions not answered? Isn’t our government looking out for a CF members and veterans well being? How many times are they going to compare apples to oranges and potatoes to grapes? Serenity now! Serenity now!

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Post by bigrex on Tue 20 Nov 2018, 07:16

I'm sure that they know exactly what is going on, but are keeping Veterans in the dark, because they know that we are not going to be happy about it. So they will spring the reality of just how bad this plan is going to be for NVC Veterans, until the last minute, so as to reduce the blowback before April 1st.
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Post by exarmyguy on Tue 20 Nov 2018, 07:31

yes bigrex. just like firing someone on a Friday afternoon if offices not open on weekend. always give bad news at the last possible time and if possible use the rumor mill to release said bad news. I was told before have those letters before Christmas but yesterday was told close to april 1. maybe the ones on the phones are not being told everything either.
regardless like I told them.... I never know from one year to the next how to plan for putting money away or what my wife will get if I die before her because they change everything so much.
instead of just going back to what was always there they are creating mess after mess like putting lipstick on a pig and calling it prime rib.

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Post by Tango-33 on Tue 20 Nov 2018, 16:08

There seems to be a lot of calculating ninja's here, maybe you could help out a ex tank driver with brain injury lol, for the purpose of these scenerios, lets assume the cap of the new benefits is 360k (Each? I don't know and VAC wont answer questions)

Claim 1; Injury Nov 2 2007,                  Claimed March 2008; 15%
Claim 2; All originates from 2007 injury, Claimed April 2010;   60%
Claim 3,                                               Claimed April 2016;   25%
                                                                              Total;   100% / $327,264.37

Points to consider, in April 2019 I will be 33 but closer to 34 (July), and I also receive the grade 3 CIA.

Question:                                            Pain and suffering entitlement;
                                                                             Monthly; ?
                                                                         Lump Sum; ?

                                                           Additional Pain and Suffering;
                                                                              Monthly; ?
                                                                          Lump Sum: ?

Thanks!

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Post by bigrex on Tue 20 Nov 2018, 18:10

Retroactive PFL
$1150 x 36 months = $41400
$862 (75%) x 72 months = $62100
$172 (15%) x 25 months = $4312

total  = 107812.5
 
Total LSA 327264 - 107812 = 219451

219451 / 600 months (age 84) = $365 as a monthly deduction, leaving a 100% PFL of roughly $785/ mo. These numbers are rough estimates, and could vary dependant on the expected lifespan they finally use.
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Post by Tango-33 on Tue 20 Nov 2018, 19:39

Thanks! Any thoughts on "additional pain and suffering"?

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Post by bigrex on Tue 20 Nov 2018, 19:49

The APSC will be at the same level as your current CIA, so grade 3, except it's reduced, to offset the fact that it's going to be tax free.
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