New Pension for Life Delay

hey buds not sure exactly how to apply it to civi life but here is as close as I can get .

guy gets hurt at work . he receives pain and suffering buyout and LTD .

then they change the system and the next guy that gets hurt at work recives a monthly pension that is equal to the buyout taken out over time @ $1200.00 a month .

however now his LTD is reduced by $1200.00 a month .

best I can do buds this does not translate easy .

propat

Well this is how I see it for my example, my numbers are hypothetical..

So in this scenario, Jan 2016 medically released 50 year's old 100% ($350,000) <-- Just a number not actual

So in April 2019, they figure he gets $1150 a month and they go back to released date
Jan 2016 so we are talking 40 month's @ $1150 a month ($60,000) to April 2019 then 34 year's 408 months
@ $1150 ($469,200)

So now our Soldier would get $529,200 but then they'll deduct his DA Award of $350,000

So now we are left with  $179,200

Then they'll divide that again by time to age 84 = (34 years x 12 months = 408 months) $439.22 a month PSC

Or this is where he could take the lump sum amount of $179,000 but will not get a tax free PSC since he took the lump


This does not calculate or even look at how it would be with the APSC or (CIA/CIAS) thats a different thing  and not looked at

bigrex wrote:Technically they are looking at full back pay, by calculating how much money you would have received under the new plan, back to your initial approval date. But instead of paying you that money, it's going to be used to reduce the amount of money that you will need to pay back, from any previous lump sum awards. The Liberals tell the general public that say that we aren't having to pay back those DA payments, but that is a blatant lie! By reducing the future monthly pensions, by the amounts already received, even if it's spread out over your lifetime, is having to pay that money back. in fact, if you live beyond what they calculate to be your life expectancy, any monthly pensions beyond that age, will be reduced for no reason.

So I am trying to in my mind put what the government has done and apply it to a real world on the civilian side of the street.

Let’s say an insurance company paid you out a certain amount for a claim and you where on disability for life.  Then 12 years later they said they are going to revamp the system and pay you less, subtract the previous given amount and then give you a lesser amount that would be currently approved under the policy.  Oh, did I mention both parties signed an agreement at the start of the policy.  I think a judge would have a field day admonishing the Insurance Company and correcting them on the correct way of doing business within the law.

So why are we being treated differently?

Technically they are looking at full back pay, by calculating how much money you would have received under the new plan, back to your initial approval date. But instead of paying you that money, it's going to be used to reduce the amount of money that you will need to pay back, from any previous lump sum awards. The Liberals tell the general public that say that we aren't having to pay back those DA payments, but that is a blatant lie! By reducing the future monthly pensions, by the amounts already received, even if it's spread out over your lifetime, is having to pay that money back. in fact, if you live beyond what they calculate to be your life expectancy, any monthly pensions beyond that age, will be reduced for no reason.

At the very least they should back pay the amount you are approved of in your monthly amount with no penalty!

Propat your right about a Third class Veteran coming April 1st 2019.  Happy April Fools New Vets!

Liberals talk about making the Pension better for Veterans, I just don’t see that happening with their misguided plan that is really only renaming programs, deleting benefits, and lowering monthly payment amounts.  Its like the shell game, move it around and call it the new and improved pension for life.  I call bull shit on you Liberals.

Also, am I reading this right with the upcoming April 1st 2019 enactment they are going to offer to the NVC Vets an option of taking the lump sum amount of this offer or a monthly payment?  

If that’s the case, who here is good with financial training would recommend which option?  I would think investing the lump sum in a proper investment portfolio would be better then monthly?

this plan is an overall reduction in veterans benefits of 11-$1200 dollars for the new 3rd class of vets ,all those after the implementation date . that's how it reads right now buds . I say scrap it all together or remove even if they scrap the elimination of the CIAS then even thou not an improvement at least it will not be a significant overall reduction in vets benefits .

not sure if back pay actually matters a lot given the math . the further you backdate the math the smaller your monthly amount would be .

propat

New Pension for Life Delay

Okay the liberals are working out their BS plan, estimate of cost, and are now realizing that the boy Prime Minister of Canada can’t fulfill his campaign broken promises.  Their plan is to delay it till April 2019 to help them in the next election, in order to hope to buy the Veterans vote that can influence popular support among the different groups in the country.

Keep this in mind and don’t forget how the Liberals have played with us over the last three years when you vote in the upcoming next election.

I feel very strongly about my next comment and I want you all to talk about it and spread it around all other social media.

We are going to start to demand for back pay from the Liberals announcement for this Pension for Life starting point of Dec 2017 till it’s enacted April of 2019.   Don’t let them off the hook, start beating the drums and get the message out that we will not accept this delay. Spread this message around social media.

Tell your local MP you are tired of bending over and getting it constantly up the ass.