Srb being eliminated

If you want a laugh, I was just told October, call center manager went and asked higher up and called me back 2 hours later.

Armygunner wrote:Has anyone received information on their SRB payout amount?

UPDATE: called VAC and the calculations started Mar 31 and will be paid out end April and a letter is to be sent later this month so they say.

Roget that.

Has anyone received information on their SRB payout amount?

UPDATE: called VAC and the calculations started Mar 31 and will be paid out end April and a letter is to be sent later this month so they say.

Dave, the front line workers have absolutely no clue as to what is going on. They haven't read the legislation, so all they can go on is what their system currently says, which is that the SRB is paid out at age 65, when the ELB benefit ends. But since the ELB is technically ending in April, and we will not be able to increase our SRB entitlement after that, I will be suing for interest, owed on that money, if they make me wait another 18 years, to collect it. But reading the legislation, only says that it will be payable, not payable at age 65.

Amount paid — veterans

Calculation of amount

Reduction



Edit . I just re-read what this stated

I called regarding this and was told there will be NO payout lump sums for this after April 01. I am on ELB for 17 months in April. 2% of that would have been a nice spring bonus! Aparrently we will not get anything???? Please prove me wrong! lol

Yes, but that is what is written in the legislation, as it stands right now. So when the legislation was written, they wouldn't have thought to include a line saying that it's only valid until a future government eliminates the benefit. But come April 1st, SRB will no longer exist. It will no longer be included in the legislation. And after we have been paid our one time lump sum, it will be as if the SRB never existed in the first place.

it also says its payable to age 65 under continuation of benefits.

That is referring to veterans who had their ELB zeroed out or reduced, due to other sources. Not if they terminated the entire benefit, before someone reaches age 65.

"29 The supplementary retirement benefit shall be paid as a lump sum in an amount equal to 2% of the total amount of earnings loss benefit

that would have been payable

to or in respect of the member or veteran, as the case may be, if no amounts from sources prescribed under subsection 19(1) or 23(3) of the Act were considered in determining the amount of earnings loss benefit payable."

It does say "would have been payable"

"Those entitled to continued ELB on March 31, 2019, will receive a lump sum payment equal to the SRB amount they will be entitled to on that date." 

The wording is a little confusing, and ambiguous, as per normal with Veterans Affairs. Sure, someone could interpret that it could mean that they will pay the amount that someone would have earned up to age 65. But the way I read it, is that we will get the benefits, that we have earned, up to the date that the PFL is enacted. It's the wording "will be entitled to", and not "would have been entitled to" that sticks in my craw.

Vet1234 wrote:Its worded so the Veteran is eligible to receive the SRB until age 65 even if the program is cancelled.  So if someone has 30 years left on SRB  they should be entitled to 2% of what they would have earned on ELB for the entire period they were on ELB.   Does anyone read it differently?

I've been trying to understand this SRB deal, but it's over my head altogether.

Its worded so the Veteran is eligible to receive the SRB until age 65 even if the program is cancelled. So if someone has 30 years left on SRB they should be entitled to 2% of what they would have earned on ELB for the entire period they were on ELB. Does anyone read it differently?

That’s what I figured. Hope for the best though. Thanks again for the answers

That's the thing. There is nothing in the legislation that would force VAC to pay SRB, on the money you received from SISIP, between 2011, and when you applied for ELB. But I do know, that once you did apply for ELB, in 2016, the SRB will be paid on the full 90% amount, even though you only got 15% of it.


And something that leads me to believe that SISIP will not be included in the SRB payment, is because they added the following to the legislation, after VAC expanded eligibility to the RISB, to those receiving SISIP only.


"Eligibility — veteran in receipt of long-term disability benefit

• 40.2 (1) The Minister may, on application, pay a retirement income security benefit to a veteran who
  
  
  
  
  • (a) attained the age of 65 years after March 31, 2006 but before the prescribed date;
    
    
  • (b) on the day before the day on which they attained the age of 65 years was, as a result of being totally disabled, in receipt of long-term disability benefits under the Service Income Security Insurance Plan Long Term Disability; and
    
    
  • (c) is eligible for a disability award under section 45 or a disability pension under the Pension Act."
    
  
  
  

So if they specifically added getting SISIP, to the legislation for RISB, why wouldn't they add the same type of language to the legislation under the SRB? They were both payable at age 65, once ELB ceased.

I meant I’ve been on sisip Ltd since feb 2011. Didn’t get vac elb till the 90% bump. Do they consider them the same in this scenario or I only get the last few years?