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Question regarding ELB, cia, pension.....etc

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Post by bigrex on Fri 05 Apr 2019, 06:21

Yes, the PFL is listed simply as additional monthly amount. I love how they made that super clear to everyone.

As far as SISIP, if you are working during the first two years, they will only deduct 50% of your earnings from your LTD benefit, IF you are taking part in Voc Rehab. Under the new IRB, which is VAC veresion of SISIP, a Veteran can now earn up to $20000/yr, before having any income deducted from their benefit. So if your IRB is $5000/yr, you can earn up to $20000, before anything gets deducted. This only applies to actual employment earnings, so things like CF pension and CPP(D), are still deducted at 100%.
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Post by DonnieD on Fri 05 Apr 2019, 01:16

Sorry to budge in this thread but thought I'd ask because I got my letter today, but is PFL the 'addition monthly amount' in my vac account? and what is the limit earnings per year for sisip ltd, I don't have cppd

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Post by bigrex on Sun 03 Mar 2019, 12:31

Yes, unfortunately, VAC cannot control what other departments do. But if CPP deducts that extra $15000 from their benefit, or worse, cancels your CPP(D), that just means less money that would be deducted from the IRB, for the CPP(D).
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Post by Guest on Sun 03 Mar 2019, 10:52

bigrex wrote:Yes, come April, if you are on IRB, you will be able to earn up to $20000/yr, from part time employment, before any money is deducted from your benefit. That is a major boost to those individuals who are capable of working, especially if they were not able to get the CIAS in time.
what is a vet was both DEC and under CPPD, I think with the latter you can only earn $5000, so I guess that makes the $20000 limit, irrelevant, assuming some one could work at all.?

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Post by Gunner8 on Sun 03 Mar 2019, 10:05

Oh ok. Thank you. I assume all the details will come out on April 1 about everything. Well, maybe lol

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Post by bigrex on Sat 02 Mar 2019, 22:49

No, you'll probably have to report it, but it just won't be deducted from your benefit.
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Post by Gunner8 on Sat 02 Mar 2019, 22:45

So we don’t have to report it or anything either, As long as we don’t go over 20,000?

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Post by bigrex on Sat 02 Mar 2019, 20:48

Yes, come April, if you are on IRB, you will be able to earn up to $20000/yr, from part time employment, before any money is deducted from your benefit. That is a major boost to those individuals who are capable of working, especially if they were not able to get the CIAS in time.
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Post by Gunner8 on Sat 02 Mar 2019, 19:15

Great. Thanks for The replies, much appreciated.

Another question, come April first 1st, will we be able to make $20,000 a year without losing our ELB? Is everyone eligible who’s on ELB? Thanks


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Post by bigrex on Fri 01 Mar 2019, 18:52

Gunner, yes, you can still list it as income, when applying for a loan. Most banks will just take the tax free amount, and add upwards to 30%, to simulate a gross income. I know that is what they have done with my PA pension, anytime I've gone for a loan.
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Post by By the Bay on Fri 01 Mar 2019, 16:31

Hi Gunner8,
This is what I was told by the VAC Rep when she called to discuss my income chances to my CIA and ELB. She told me that my  CIA changes to APSC it will be combined with my tax free pension. The ELB becomes IRB and will piggy back with other taxed benefits such as CIAS. I don't know if they will have it individually listed for income proof in MY VAC Account but I put in a request for proof of income with VAC because my mortgage is up for renewal.  VAC kindly sent me letter with my taxed and untaxed benefits income amounts. The only income proof they did not include was my VIP since it is classified as a grant and not house income. So even if VAC does not list each benefit separately, you can request an updated proof of income letter. Also come April, VAC will sent out verification letters for income amount changes so you could also use those letters for proof of household income as well. I just found it easier to request an income proof letter from VAC instead of bring in a stack of approval letters to the bank.
Hope this helps.

Cheers,
By the Bay
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Post by Gunner8 on Fri 01 Mar 2019, 10:48

Okay. We can still use it as a source of income tho right? Like for example giving income total to purchase a house/ car etc?

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Post by bigrex on Thu 28 Feb 2019, 21:43

No, after next year, the T4A will only show the amount received for ELB.

Also, there will be 2 deposits in you bank account, every month. One for your ELB, and a second deposit that will total you APSC (CIA) and PFL.
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Post by Gunner8 on Thu 28 Feb 2019, 19:07

Okay. So will that still all be on your T4 for total income at the end of the year?

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Post by propat on Thu 28 Feb 2019, 17:29

your CIA will no longer come with your ELB . your adjusted and renamed CIA will now come on its own or with your PFL if you have one .

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