SISIP contract ceases at 65

yes there is an advantage the big one is you freeze your CPP you see they calculate your CPP using a long winded formula amount payed per year how many years and so forth the last years are the moast important in the formula. if you have paid nothing say for the last 10 years prior to age 65 you may end up with little to no CPP. like I said if on CPPD your rate is frozen. advantage number 2 although the math works out even if you have no kids. you get indexing every year from CPPD witch does not get clawed back.

advantage number 3 their is an amount for kids around 200 per child so if you have kids this can be a big advantage.

IF YOU ARE DISABLED AND CAN NO LONGER WORK APPLY FOR CPPD YESTERDAY !!!!!!

propat

There really is no advantage to being on CPP D. It means you are disabled, it's another taxable income and the paperwork is a pain in the rear. It is up to you to inform the CF Pension office because it can take 3-5 years before they find out you are on CPP D and then you will owe the CF Pension all that backpay which is a financial hit at the time of discovery.

But what does happen is yes your ELB is reduced, your CF Pension is reduced and if you are to stay on CPP D until age 65 it automatically converts to CPP.

Is there any advantage to being on CPPD now? ELB gets deducted by the amount from CPPD so what's your opinion?

If you were medically released before 1995 maybe.

I have never been on LTD with SISIP as I get PIA and ELB which terminates at 65. I have been paying into SISIP since Christ was a cowboy. Will I be able to start receiving SISIP LTD when PIA and ELB end?

I don't know if it as been said before but the Policy changed from life to 65 on January 1st 1995. All those out before that date receive Sisip for life and the rest till 65.

My sisip contract, signed in 1986 states payment for life. The cpp-d will change at age 65 I believe, but the old sisip policy will go for life. So after 65 I think the cpp-d will simply change to cpp and oas....
Sap

just wondering if I missed something I knew they changed the OAS to 67 and expect the same for CPP but not aware it happen yet?

propat

When released prior to 1999 was it not part of the way it was written that SISIP continued til passing away, those released after 1999 it was rewritten to only continue to age 65 as a retirement year.

I started paying into SISIP coverage in the 80's, and continued until my release almost twenty years later.

 Now that the government has raised the age for regular CPP (incrementally) to 67, it hasn't followed suit to change the contract to reflect that which they changed previously in 1999 (cost savings).

 Is it my understanding that for those on CPP(D) currently we will be automatically converted to the new age group of age 67 as applicable for discontinuation of CPP(D) and changing to regular CPP, but

Our SISIP will be discontinued as changed in 1999 to cease at age 65 as the previous governments change over date to retirement/regular CPP.

Has there been any news of changing the age 65 limit for SISIP to reflect the governments/finance/treasury boards change to age 67, or are we without for those two years, possibly more if they keep raising it?