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What is deducted from other income sources for SISIP LTD? I need clarification

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What is deducted from other income sources for SISIP LTD? I need clarification Empty Re: What is deducted from other income sources for SISIP LTD? I need clarification

Post by MarieH on Sun 05 May 2019, 16:55

Thanks a lot Teager for the clarification, I am getting so mixed up with all those changes with VAC that I dont know what needs to be reported to SISIP on their annual form, there is nothing really clear on their form when they ask for "other disability income"


Marieh

MarieH
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What is deducted from other income sources for SISIP LTD? I need clarification Empty Re: What is deducted from other income sources for SISIP LTD? I need clarification

Post by Teager on Sun 05 May 2019, 15:13

No, you do not need to report any of those benefits or the new ones for PFL to SISIP. You would only need to report any income you make.

Teager
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Post by MarieH on Sun 05 May 2019, 15:09

Teager thank you. so I am receiving a disability pension from the old system prior to the NVC however I know that I dont have to report this one because when the class action with sisip settle in they reimburse me the extra money that SISIP claw back on this one. But lately I am receiving the CIA/CIAS and the ELB (top up to 90%), so I was wondering if these have to be reported to SISIP annual re evaluation form?

Marieh

MarieH
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Post by Teager on Sun 05 May 2019, 09:40

Pension act is what came before the NVC so before 2006. The benefits you talk about being ELB CIA/CIAS are all NVC. So unless you are receiving a pension under the pension act you don't need to worry about it.

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Post by MarieH on Sat 04 May 2019, 22:15

HI all, I need clarification on point # 4 of the sisip policy with regards to deduction of SISIP LTD

The policy states for deductions:

****

24. Other Relevant Sources of Income


a. The monthly benefit payable at Section 23 shall be reduced by the sum of:
* (i)  the monthly income benefits payable to the member under the Canadian Forces Superannuation Act; and 

* (ii)  the Primary monthly income benefits payable to the member under the Canada or Quebec Pension Plans (including retroactive payments covering the period during which such benefits were prefunded under this Division 2); and 

* (iii)  the employment income of the member unless the member is participating in a rehabilitation program approved by the Insurer in which case the monthly benefit will be reduced in accordance with Section 28; and 

* (iv)  the total monthly income benefits payable to the member under the Pension Act (including dependant benefits and retroactive payments covering the period during which such benefits were prefunded under this Division 2).

***


So what do they means by “pension act” for the last point #( iv) , does it have anything to do with VAC stuff such as CIA/CIAS or ELB top off, or disability pension? so do we have to report these?

Marie

MarieH
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