Bill C-58 "Support for Veterans and Their Families Act" (short title)

Yes but take away the ELB, LTD, EELB that can be a significant drop in income. That's why the RISB is meant to top up post 65 to $43K (which increases each year with annual COLA figures).

If you receive a full CF pension you may be ok but it's good to know that you can now plan your finances post 65 knowing you are going to get a minimum of $43,400 a year for the rest of your life.

Security is better today then yesterday that's for darn sure with the RISB. I've spoken to some vets that really like this new benefit. And their wives were happy as well.

yup I got the PIA thing when teen posted

Rex I sent your comment to the Ministers staffer and this was his reply:

So that math assumes the PIA is going to be reduced aft 65 due to the floor calculation‎. That is incorrect. PIA and S do not change because of RISB.

RISB determines what is a reasonable amount per year to receive in retirement. Retirement experts say 70 percent of what you were earning is needed ‎. So RISB figures out your 70 percent. If from all other sources - Pension, PIA, PIAS, CPP and OAS you don't reach the 70 percent figure, RISB tops you up. It does not reduce the above mentioned benefits to 70 percent


that's all good as I said right after he posted it that is what my calcs are based on.

I did not deduct PIA and sup however because I still see nowhere where it is now ore will be a prescribed source under the act.

so can someone please show me that so I can adjust my calcs accordingly .

thanks guys

propat

Plus forgive me but I have read back over all the comments and am still confused over those of us that are LTD. At 65 it zeros out so if our combined CF Annuity, CPPD and OAP do not total $43k would we than be entitled to be topped up as the vet that is receiving PIA?

they are using the same prescribed sources as ELB in the proposed legislation. and right now the PIA and sup are not being deducted from ELB so making the PIA and sup a prescribed sorce must be in the proposed legislation somewhere I just cant find it .

little help???

propat

From the HoC ACVA committee report

"RECOMMENDATION 3

That the most seriously disabled veterans receive financial benefits for life, of which an appropriate portion should be transferable to their spouse in the event of death, that Veterans Affairs Canada consider the use of a probable earnings approach in determining the amount of the benefits, and include better access to the three grades of the permanent impairment allowance, for which eligibility criteria must be clarified."


To me, the recommendation was intended to read ELB for life (PIA is considered a disability benefit, NOT a financial benefit). So by reducing the calculations, lumping financial and disability benefits in those calculations and disqualifying any severely disabled Veteran who makes more than a prescribed limit, goes against the spirit of the recommendation. No where do they state that it is intended to benefit only those without a CF pension, or to adopt what is considered a normal percentage on civie street.

Propat, the prescribed sources will only be public once the revised regulations are released. But I agree, if the PIA and PIAS can be used to zero sum a Veterans' RISB, then it has better be on the list of prescribed sources.

bigrex thanks buds so until something changes my calculations are correct as to the present and proposed legislations.

they will not deduct PIA and supplement from the RIBS calculations until they change something further .

but yes I know they can add PIA and sup to the prescribed sorses they are using right now in the proposed legislation but that would mean these things would be deducted from ELB as well as they are using a common prescribed sorce under this proposed legislation.

so to deduct this they would have to make a new prescribed source para in the regulations and change the proposed legislation to direct you to this set of new prescribed sources for the C part of the calculation.

do I have that straight buds?????


propat

It should be 70% of our release income, adjusted for COLA of course. Not 70% of what benefits we get, which is a MAX of 75% of our release salary. We already took a 25% cut so if we take another 70% cut our income at 65 will be 52.5% of our pre release salary.

The question is, "What would our salary have been if we retired from the CF at 65?"

"Would we be getting more income by getting the 75% then 70% cut compared to retiring from the CF at 65?"

fully agree buds but if this stands without reducing PIA and sup and not having them deducted in the RIBS this is a ok benefit for some and a great benefit for a lot that have PIA and sup .

propat

Yes, it would be nice if they do not deduct PIA and PIAS from the RISN 70% amount, but according to the VAC staff that spoke to Teen, they will.

"RISB determines what is a reasonable amount per year to receive in retirement. Retirement experts say 70 percent of what you were earning is needed ‎. So RISB figures out your 70 percent. If from all other sources - Pension, PIA, PIAS, CPP and OAS you don't reach the 70 percent figure, RISB tops you up. It does not reduce the above mentioned benefits to 70 percent"

So they will calculate your "floor", then deduct your PIA, PIAS, CF pension, CPP and OAS. If there is any left, you will be entitled to a RISB payment. For many Veterans that are getting a CF pension, the "floor" will not likely be very different that what they would have been getting before the RISB was introduced.

I get that buds .

really I don't want people to tell me im wrong that just sucks . what I want is people to tell me im wrong and then tell me why . that I love because how else am I gonna learn ?

im just a 20 year infantry Cpl never in an administrative position no school or RC or anything else always in a fighting position . so please talk to me like im dumb as a stump if ya want to doesn't bother me one bit . chances are I am. the thing is I got use to dealing with things that are right in front of my face and that's about all I can deal with right now.

ya the guy that told teen that is probably right and its probably in the proposed legislation somewhere I just DONT SEE IT. hey I still may think in the back of my head that they are going to reduce the PIA and sup to 70 % because im not only dumb as a stump but paranoid as well lol.

yes I know politicians and bureaucrat's have said a lot of things to not only to teen recently but to a lot of people over the years . that's all well and fine . the thing is what people say rarely becomes law , however the actual legislation when its passed to my knowledge always becomes law at least for a short time . hell ill even go so far as to say almost always becomes law .

so if they are going to deduct the PIA and supplement then put it into the legislation so we can read it and understand it . if not all the better . the thing is don't say one thing and do something else . I know that's a lot to ask from politicians and bureaucrats .

ill go the they are not reducing the PIA and sup thing not only because I want to believe it but because I don't see the calculations being a legal over rider to previous legislation ( was probably a little over paranoid on that one ) .

however in the proposed legislation I DONT SEE anything that says they can deduct the PIA and sup . not saying its not there or they cant do it just saying I DONT SEE IT. that's all buds .

like I said just looking at what's right in front of me . new regs come out or amendments to the proposed legislation that's fine I will read that as it comes but I don't have that just yet so im not goanna try to figure that out so ill keep my calcs as they are until that comes out.

thanks for all the help buds.

always question authority

propat

oops

Propat,

Understandable the worries,  and I also want thorough explanation of what is happening within Veterans Affairs.  I sat on the side line and watched my life go by and wondered what the F happened.  How does someone who signed on for another 14 years get medically released at 25 years old.

Finding a gainful suitable career afterwards was the tricky part.  One year of college and two years SISIP AND I was on my way.  It wasn't that simple.  Try finding suitable employment when you have a disability and a half ass education. It wasn't easy, 
I continued working as a federal contract worker side by side with people who worked directly for the federal government who were making great money and contributing time towards their pensions. 
 I always wondered how these people with only four years university degree end up in a job like the ones they had ;and a person who served (like me ends up being a third class citizen amongst these workers). I could hear them complaining about their simple office job (while passing orders and making our jobs more difficult) and wondered WOW, where did I go wrong!  No chance to ever retire.  No military pension.  Nothing at all from DVA because I had to appeal and appeal and understand the ins and outs of VAC. 

Here is the thing.  I am going to be 38years old.  Due to the changes to the NVC I was able to qualify for the transition program and the temporary earnings loss benefit.
I have a chance to get an education. I will have another chance to find suitable gainful employment (Royal assent Priority Hiring), so things are looking better opposed to looking grim. 
Also, with the RISB in place, if after college I am still not gainfully employed (a job with a pension), then at least I know that when I turn 65 that I will be able to choose to continue or stop working. 
I may be disabled but I am not dead and I still want to contribute where possible.  I want to earn my money.

RISB for me, I give it two thumbs up because that was my biggest worry.  The rest I am still trying to figure out.

teen oooops????

propat

danny ya you were in a pretty crappy situation there , sounds pretty bad buds . but it looks like things are looking up for you and buds I really hope they do . yup this RISB looks really good right now and it seems to me this is going to help a lot more people then initially thought .
so all I can do right now is be cautiously optimistic trust but verify wait for any regulatory changes and hope it all falls into place.

propat