Manulife Admin on Processing Claims

U Rr highly trained, all of us!!! Don't forget,.. U R capable of anything!!!!!!

thanks ghillie just some research I had to do so I could be well informed as to what this deal really means. unfortunately it means some bad news tax wise for the ones effected by this clawback the moast. the high retro peeps. im looking forward to any input your accountant that would be great as for right now I cant find a reason we cant claim the interest as capital gains but im not finished yet and have a lot more reading to do.

propat

Excuse my brain,,VAC OR ELB how do you guys know all this stuff! Love it!

Propat I had been reading some of the other postings WRT to DEEMED TAXES and QRLSP I have been waiting for my accountant to get back from holidays to go over this stuff with him, I am expecting him to be calling me back some time this week, and I will let you know what he says...but Damn your knowledge is impressive about this stuff..read the stuff you posted re: sisip payback

and on that note I will jump in. now remember this is the highest tax rate most of us will ever pay due to the penalties for claiming it in the year we should have got it so eg; instead of paying the regular aprox 25% you may be paying close to 50% on that interest .unless of course you claim all your interest as capital gains. im now looking into this as it may be some help.

now since it came up can anyone see why the interest cant be claimed as capital gains???

propat

For sure bigrex it's really not worth the anxiety of checking that claim email and seeing.....the word "No" lol They can keep my interest if they give me the cheque now lol The way some people are praising the interest, I thought, my God, I must be doing the math wrong lol

Your right. I am earning roughly $40 dollars extra per month (after deductions), and I can tell you that that doesn't cover the aggravation of not knowing, or the gut wrenching felling every time I read "You claim has not been processed. Please check again in....". $40, or even $120 if I wait until the end, isn't going to make my retro a sweeter. It might pay for a nice dinner with my family, or let them buy an extra shirt or two when picking out new clothes, but certainly not life altering.

Honestly, I think some people are under the impression that the 5% is compounded, or added every month or 3 month, which is not the case, AFAIK.

Thanks bigrex, I was thinking I must be doing the math wrong. I guess every $ we get is a good thing but it's not worth getting excited about lol

your correct JM2. It's actually .42%, but the monthly increase is just over $4 per month for every $1000 owed, and it is only calculated on the base amount, not the interest already accumulated. That means if someone had $10000 deducted in 1990, and received the maximum amount of interest payable being approx 98%, effectively doubling their total return, the .42% monthly increase is still only based on that initial $10000. So the only class members who will see any meaningful monthly increases are already getting returns in the 6 figure range. Plus, don't forget that there are deductions from the $4. After withholding taxes and legal fees, that $4 has been reduced to $2.40 on every $1000. But honestly, if someone is already expecting 2-5 hundred thousand back, an extra thousand or two made while waiting until October, isn't going to drastically improve your life compared to getting paid earlier and not getting it.

guest27 Am I correct in my thinking that for every month we get .004% interest? (5% per year, divided by 12 months = .004% per month) So for every $1000 we will make ~$4 Is that how it's worked out?

The longer they take the more I get best deal in town.

I would be upset if my claim was not done last..

Thanks Teen once again for the update and for those that passed on the info to you, I read it with clarity nothing more to add for myself on your post, as I will head over to Veterans Help to continue my thoughts so as not to distract from its original content.

One of those 2010s chiming in here, and I am also under the old charter.

Please don't make it about discriminating against one group of vets against another. I am one of those injured outside of Afghanistan; there are many of us out there and unfortunately we seem to be the forgotten about or discarded because we were not in a "conflict or war", that doesn't make our injuries or careers any less than others.
We all deserve to be treated equally regardless of when we retired/released or where our injuries occurred.

I respect all of my fellow veterans and just wish the system and today's society as a whole would too.

I want to apologize for my post, but I am so tired of it all. I do wish that we all could get what was stolen from us and wished that it had happened years ago. I was so happy when the decision came down and that the government was not going to appeal. I thought finally I could have something else to worry about besides trying to keep a roof over my family's head, let alone food on the table. But, every month I get my hopes up when I hit submit to see if just by chance I will get a little breathing room from the creditors, just to have my hopes dashed by "try again next month".

Congrats and well deserved to all those that now have that breathing room :-) I feel so good that some are being able to concentrate on their families and put their energy towards healing the best they can.

I'm in the 08-10 group. I also just had all my paperwork done, since they started my LTD and gave me LTD back to Nov 2011. I had to give them all sorts of paperwork first including my original CCPD letter of approval.

Yet I am still not done. Hard to analyze how they are doing things.

Exactly. I am willing to bet that the number of PA recipients released in 2011-2012 is only a couple dozen or so, so why have a person dedicated to those years, which would also ensure that those in this group would get paid much faster in comparison to other years. Even with the 08-10 group, the majority will be on the front end of the time frame, where as other groups, the numbers are likely pretty consistent from year to year.

I think the next piece of intel Peter should try to get is how many class members fall into each grouping and possibly how many have been completed from each. This way, we can know what groups may take longer to complete, and where the focus has been so far in the process.