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LETTERS FOR FINANCIAL DETAILS (IRB) IMCOME REPLACEMENT BENEFIT - CALCULATION

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LETTERS FOR FINANCIAL DETAILS (IRB) IMCOME REPLACEMENT BENEFIT - CALCULATION Empty LETTERS FOR FINANCIAL DETAILS (IRB) IMCOME REPLACEMENT BENEFIT - CALCULATION

Post by cosmo12 on Wed 24 Apr 2019, 08:43

Good Morning Brothers and sisters;

The letter is available on your vac acccount with the detail of calculations.

STILL NOTHING ON SRB ? WHAT A MISTERY....

cosmo

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Post by Tilap61 on Wed 24 Apr 2019, 14:50

Stating to think we will never see anything related to SRB. I know people keep quoting regulations etc but it wouldn’t be the first time VAC disregard their own regulations till it get challenged in court.

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Post by red510 on Fri 26 Apr 2019, 21:46

Not sure if this is the right place to post this but here goes:

Under new IRB rules one is allowed to earn up to $20k “employment earnings” before deductions are made against the IRB. Is a CF pension considered employment earnings - if so - shouldn’t ones first $20k of pension earnings not be deducted from the IRB? Thoughts anyone....

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Post by AirLog on Fri 26 Apr 2019, 22:25

Hi Red510,

Unfortunately pension earnings isn't "employment earnings." Pension is under a different category for income purposes, therefore, since it isn't employment earnings it is used as an offset for IRB purposes.

AirLog

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Post by Teager on Sun 28 Apr 2019, 08:45

So got my detailed letter explaining the calculations for the IRB. It looks like if you receive the CIAS you actually don't get the career progression added to it. What they do is they take the IRB amount you would be elegiable for and add the career progression amount to it. They then look at your previous ELB earnings with CIAS added and then take whichever amount is higher. So since my ELB with CIAS is higher they take that amount but the career progression is not added to it. I'm guessing this is how they are trying to level the playing field for guys who can't get CIAS anymore.

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Post by red510 on Sun 28 Apr 2019, 11:29

Thanks Air Log

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