SISIP COLA RETRO (Assorted Topics)

I just checked the LNVB website and the settlement court order is now posted there on the homepage.

On a second post, they have also posted three pages with names of undeliverable settlement packages because they don't have the current contact info for these members. If the name is on the list, there is a phone number to contact to get the member their package. I imagine that any if these people were on CSAT, they would have already contacted MC looking for their package. Hopefully, some of our CSAT crew know some of these missing folks and can get them in contact with MC.

Sabrelove

no problem teen I fully agree we should have a plain English explanation but as discussed in this order anyone in an overpayment situation will have their refund deducted so until they get the pertinent info from SISIP im not sure you will get a WILL unless it is followed shortly thereafter with a EXCEPT IN THE CASE .

propat

One would think but they threw so many years, percentages, dates at us in the letter we never got an explanation from them.

Not to question you propat but you used the word "should" and I'm looking for a "will" and right now only our so called legal team can explain it and THEY AIN'T DOING THE JOB!!!! BUT THEY AIN'T GOT A PROBLEM BILLING US!!!!

it looks like anyone collecting SISIP LTD prior to the order whether a class member or not in the initial suit and had an offset ie; CPPD, military pension ore any deduction should receive something .

propat

So I'm just completely lost on this one. How do you know if you are supposed to get/qualify for the COLA payment?

If anyone has any chance of getting someone at McInness Cooper to translate this agreement please do.

I can't help but feel the law firm is flipping us the bird and don't care and for the first time I am upset that I have to pay these guys!!

Teen when I find my secret decoder ring, I will post the translation here. I use to use it back when I would get a copy of the 300 hundred page op-ord to find what I need...

So they are being paid twice...GoC and us.

I've given up trying to figure it all out too complicated. Especially all the forms at the end...haven't got a clue what they are for.

The GoC is paying $19 to the lawyers, for each of the 1400 claims. It doesn't affect the actual amount payable to any of the class members.

Who's getting the admin fee?  Manulife or law firm?

teen it looks like 8% plus .038% plus provincial tax . the 19$ seems to be a admin fee.

propat

I believe the $19 dollars is a handling fee charged to Manulife by MC. We still get dinged for the legal fees separately.
Sap

OK may have read it wrong but it says legal fees are $19 per claim on the COLA...

Well, for most members of the class, the actual payout will not be worth the headaches that the first lottery caused, since we're only getting 1 or 2 years worth of adjustments. For me , calculating COLA on my gross amount, instead of the net benefit, works out around an extra $65 per month for a year, and the interest would bring it up to around $1000. But then we start the deductions. Firstly, the agreement between the lawyers, says the recovery will only pay out at 74% of the entitlement, so my payment is already down to $740. Then there will be the 10% withholding tax, reducing it to $666, minus another $69 for legal fees, admin fees and GST. Unless I am way off with my calculations, I don's see how they came up with an average recovery of $2500.

Nothing on the FB page yet, Teen.

Well I can't take the thanks...it goes to our webmaster....that old SOB still has his wiry ways!! LOL

Still nothing on LNVB is there anything on the fb page?