Retirement Income Security Benefit (RISB)

RRSPs are savings (JD Irving NBCA 2012)

RDSP's are purchased so I would hope they count as assets, savings.

I hope to kill off RISB as it is a replacement for SISIP LTD's lifetime benefit that ended in 1995 to save gov money. What stopped them from increasing premiums? Nothing (Somersall SCC 2002).

what about RDSPs and RRSPs?

Everything

CF pension, Old Age Security, CPP

By the time clawbacks apply, no money payable.

Already spoke to 1 vet in this boat recently

and what are "prescribed sources"?

I just came across this while researching RISB

Amount of benefit

(4) Subject to the regulations, the monthly amount of the retirement income security benefit that is payable to a veteran shall be determined in accordance with the formula

(A + B) – C

where

A
is 70% of the earnings loss benefit to which the veteran would be entitled for the month in which they attain the age of 65 years, calculated as if the benefit were payable for that entire month and not taking into account amounts that are payable to the veteran from prescribed sources referred to in subsection 19(1);
B
is 70% of the permanent impairment allowance, including any increase to it under subsection 38(3), payable to the veteran for the month in which they attain the age of 65 years; and
C
is the total amount that is payable to the veteran for a month from prescribed sources.

PIA is payable for life. EELB ends at 65 and vets can apply for RISB (70% of ELB is what VAC tells us.)
To me this looks like if you apply for RISB, they cut your PIA by 30%?
I'm not sure I understand. Anyone?

http://laws.justice.gc.ca/eng/acts/C-16.8/page-5.html#h-11

The RISB is now in effect, it passed in July. As per the PA payment it will not exclude that because of the lawsuit result.

Tho this is not yet approved, when they say 70% of income - will that exclude one's VAC disability pension? Just thinking back to the SISIP lawsuit that deemed VAC pensions were not income.

I am not sure if this applies to you but it sure helped me.
http://www.osiss.ca/en/index.html

Thanks guys for all your help . I will try again , you all have given me new hope . I have been on the CSAT site and have been reading all the comments and info . Thanks so much !

oh almost forgot if successful with the pension thing you can then apply for ELB if you get that it will not pay you anything because SISIP is but you would not have to worry about the cut off date.

propat

yup the cut off date is July 1, 2025 so I guess as bigrex said work on your claim first and second hope they get rid of that fracking cut off date.

propat

Jeanettte. Unfortunately, the main criteria for any and all benefits from VAC, is that you have been approved for either a disability pension or award. So at this point, you can hope that the Liberals win, and make ELB, and SISIP for life, or you can submit a new application. I know of a recent case, where the Veteran applied for a pension for his 23 years ago, and it was denied. Last year VAC staff said that he had been screwed, because there had been over 20 instances in his military career where he had complained about his back, following an accident, including being hospitalized. They submitted a new claim, on his behalf, and it was approved. And get this, it was approved as a 15% pension, and backdated three years. VAC claimed that they have started approving claims based on cumulative joint trauma, since his first denial. So depending on what your injury is, you may just get lucky.

ya Jeanette im not sure about the dates but will take a look later first they said the cut off date was I THINK 2025 then after much complaining they said they would get rid of the cut off date . then when the legislation went through the fracking cut off date was still there . have no idea if they plan on changing it down the road .

sorry I don't have a better answer will check the dates latter and post it here for you .

propat

Jeanette, I don't have the answer about RISB but given time someone on CSAT should be able to give some input. Take care.

Hello , I am new to this site as I did not have any idea of what was on here or where to go . I have been on LTD (SISIP ) for 15 years . I did apply for VAC but was denied . I went through all the avenues that I knew of but no luck . I gave up because I was getting nowhere and no help . I gave up and did not want to even think about it anymore and that is why I have not been on here . I have been living with my disability for 20 years and it has changed my whole way of life . Anyway I will not get into that right now . Can anyone tell me if I should apply for RISB but as I understand it I will turn 65 in 2026 ? I too am worried because of my LTD being stopped at age 65 . Please can anyone help me ? Really frustrated !