Re: SUPPLEMENTARY RETIREMENT BENEFIT - LUMP SUM - 1 APRIL 2019

by Guest Thu 21 Mar 2019, 20:45

It’s not right, it’s almost criminal in the way the government/vac makes these decisions. They no in the long run they will save a huge x amount of money getting rid of this benefit to current and future Vets. They will give us a few dollars in April to hope we will forget about this lost benefit. They really can’t explain the numbers to us, they just say everything is now rolled into one benifit under the new PFL.

Like I said before, look at what numbers you get in March and compare the drop in benefit payments in April. They will say oh you will get it back next year when you file your taxes. It’s a big rip off coming up and we are paying the price and so will future Veterans.

by **bigrex** Thu 21 Mar 2019, 10:09

Propat is right. As long as you are currently approved for EELB, it doesn't matter if you ever saw a cent of ELB, over those 11 years, the SRB will be calculated on the full amount.

by propat Thu 21 Mar 2019, 08:32

bosn if you are DEC you should get a decent chunk . the SRB is calculated before deductions witch includes the amount deducted for your SISIP . so how much SISIP pays doesn't matter .

propat

by bosn181 Thu 21 Mar 2019, 00:08

I have been on ELB for 11 years and will wait to see anything regarding the SRB payout in my bank before getting excited. I am sure some way or some how VAC will find a way to not pay and seeing in my case 75% ELB is payed from SISIP and the other 15% top up from VAC. When i was talking to VAC they said i would see noting from them. I know my good buddy johnny got a different response from them when he contacted them. Here's hoping but won't hold my breath. fyi johnny if you get it and i don't it be your turn to buy breakfast again lol.

by johnny211 Tue 19 Mar 2019, 17:56

Tks Bigrex - You Rock Brother..Johnny Out,,VVV

by **bigrex** Tue 19 Mar 2019, 17:40

Yes, the actual ELB payment would be zeroed out, but if the Veteran went off work, for a short time, or even took a prolonged vacation, where they weren't actually earning anything during that month, the ELB would cover the difference.

by Guest Tue 19 Mar 2019, 17:02

bigrex wrote:@ Bruce. Yes, the money that was recieved under simple ELB should be included, as long as you are DEC, when the programs ends.

@ Sleeping Dog. No, because someone can be on ELB, for several years, simply because they are undergoing treatment, like psychiatrist appointments, as paty of the rehab program, and still be working full time.

ah, makes sense now, l forget how the ELB calculation works now, but if a veteran was in a job that already = 90% of their pre release salary from the military, would that mean ELB would be 0, but psychiatrist appointments are covered.?

by **bigrex** Tue 19 Mar 2019, 16:31

Johnny, it will be calculated on the total ELB benefits earned, between the time you applied for ELB, and March 31st, for an ultimate maximum of 13 years

by **bigrex** Tue 19 Mar 2019, 16:28

@ Bruce. Yes, the money that was recieved under simple ELB should be included, as long as you are DEC, when the programs ends.

@ Sleeping Dog. No, because someone can be on ELB, for several years, simply because they are undergoing treatment, like psychiatrist appointments, as paty of the rehab program, and still be working full time.

by johnny211 Tue 19 Mar 2019, 16:23

Bigrex - just a ? You may know. Now that we know the SRB will be paid out sometime after 1 Apr. Is it calculated fm the time one started ELB, until 1 Apr, or is it paid out until the date one would have reached 65? I wouldn’t think the later, as some Vets could be younger. VVV...

by Guest Tue 19 Mar 2019, 16:01

bigrex wrote:That is pretty much it. The SRB was designed for people who were going to have been on ELB, for several years, or decades

that's the thing I dont understand I know ELB can be cancelled at anytime if VAC has a good reason, and in print it says the 2 year mark, but if someone is on ELB 5-10 years, won't that constitute DEC status?

by Guest Tue 19 Mar 2019, 15:06

I'm still confused as to whether or not the time a vet spent on ELB before being deemed DEC is part of the calculation for the SRB.

https://www.veterans.gc.ca/eng/about-vac/legislation-policies/policies/document/1093

I have read the info provided by the link, but I still can't figure it out.

by **bigrex** Tue 19 Mar 2019, 14:34

That is pretty much it. The SRB was designed for people who were going to have been on ELB, for several years, or decades

by Guest Tue 19 Mar 2019, 12:54

bigrex wrote:We are not going to get SRB payments for future years. period. If you have been on ELB for exactly 5 years, on Apr 1st, and your ELB benefit, before any deductions, is $5000 per month, the SRB would be calculated like this

$5000 x 60 months = $300000 x 2% = SRB payment of $6000 (obviously COLA, and the increase to 90% will affect the overall calculations)

It doesn't matter if you are only 30 years old, or 60. But honestly, when the SRB was created, the only money that NVC Veterans were going to entitled to after age 65, was the PIA. So the SRB, was intended to act as a buffer, when the monthly benefits stopped. So we were lucky that they didn't eliminate it, a few years ago, when the RISB was introduced. And at least they are paying us the money we have accrued so far, because they could have ended it, and just kept that money, leaving us to launch a court case, that may not even be successful.

so is someone was only on ELB a year at say $3000 a month, what’s that look like, $3000x12 = $36000x 2% = $720

by johnny211 Tue 19 Mar 2019, 11:35

Good morning all. I asked Vac to clarify By a yes or no, if we are getting SRB payout. And this is the reply:

In response to your email message of March 15, 2019, we can confirm
that eligible Veterans will receive the SRB sometime after April
1, 2019, they will not have to wait until they turn 65.

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