Re: SUPPLEMENTARY RETIREMENT BENEFIT - LUMP SUM - 1 APRIL 2019

by bog6 Wed 25 Sep 2019, 14:11

I called and they sent it through the snail mail. Wonder why not use My Account and save a tree and postage. Have to wait it out.

by Newfie Wed 25 Sep 2019, 00:08

Thanks bigrex. I did get a sizeable payout. I assume it was because of deductions as I made over the 90% elb top up

by **bigrex** Tue 24 Sep 2019, 23:16

Newfie, working would not affect the SRB calculations, because it's based on your ELB, before deductions. So you could be approved for ELB, but have it zeroed out, because of deductions, and still get a sizable SRB payout.

Ex army guy, how did you get that number? So unless you got the numbers backwards, and your payment is 65.7% of the entitlement, losing 34.3%, in taxes, I would be calling VAC, because something got screwed up. There is absolutely no reason that they should deduct that much for taxes.

by Newfie Tue 24 Sep 2019, 21:30

Mistake on my dates. They went from 2014 to 2016. Missed 2015. Not sure why unless it’s when I went to work for that period

by Unknown Soldier Tue 24 Sep 2019, 21:05

exarmyguy wrote:They say they taking 65.7 percent tax from me. That nuts.

ok , that’s just crazy, why don’t they just keep it all at that point

by **Kramer** Tue 24 Sep 2019, 20:59

Double check their figures!!

There was a mistake on mine....(I believe a typo). They missed 200.00 what should have been a 9 was a 7.

They deducted 25% from me.

Riddick

by cdnnavy77 Tue 24 Sep 2019, 20:51

im at 37percent as well. oh well, if I paid too much, ill get it back on my income tax.

by propat Tue 24 Sep 2019, 20:27

25%

propat

by Guest Tue 24 Sep 2019, 19:52

by Rustytheviking Tue 24 Sep 2019, 18:17

They only taxed me 25.5%, sounds like everyone got a random straw when it came to this payout.

by exarmyguy Tue 24 Sep 2019, 18:08

They say they taking 65.7 percent tax from me. That nuts.

by Unknown Soldier Tue 24 Sep 2019, 17:58

bigrex wrote:The income tax deduction was ridiculously high. I've never seen any payment deduct 38% for taxes. Even the SISIP lawsuit settlement, which was hundreds of thousands for some people, only withheld 30%.

how does a veteran fight that.?

by **bigrex** Tue 24 Sep 2019, 17:46

The income tax deduction was ridiculously high. I've never seen any payment deduct 38% for taxes. Even the SISIP lawsuit settlement, which was hundreds of thousands for some people, only withheld 30%.

by red510 Tue 24 Sep 2019, 17:30

SRB letter now in My VAC Inbox. Says it should be paid in about two weeks. It says amount before and after tax and is close to my estimate.

by **Ppclicaper** Tue 24 Sep 2019, 17:12

Same, deductions were about 40% .

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