IS INCOME REPLACEMENT PAID AFTER YOU TURN 65
5 posters
Re: IS INCOME REPLACEMENT PAID AFTER YOU TURN 65
wasn't there some other clause that you had to be declared IRB/DEC/ELB or whatever before the age of 65, like what happens if a veteran gets put on any of these for the first time at 66? I have a few years yet til 65, maybe in my life time the 90 to 70% will be eliminated.derngt wrote:bigrex wrote:Unknown soldier is correct. If you are deemed DEC, the IRB will continue for life, at the reduced rate. And I believe that there are elements at work, behind the scenes that are trying to eliminate that reduction, Because the cost of living doesn't decrease at age 65. Your utility bills don't decrease by 20% at age 65, Rent and mortgages don't decrease at age 65. So why should the financial benefits that have been supporting you, be reduced?
They have been trying to eliminate the reduction for decades..I don't see it happening..I will lose about $700/month at 65 so I am saving funds in my TFSA now for the future..Plus my mortgage will be paid off when I reach 60...It's unfortunate, but I have time to plan so the reduction wont hurt as much.Many will know the reduction is coming yet they will do nothing to mitigate the difference except to bitch...
Unknown Soldier- CSAT Member
- Number of posts : 619
Location : MIR
Registration date : 2019-05-15
Re: IS INCOME REPLACEMENT PAID AFTER YOU TURN 65
bigrex wrote:Unknown soldier is correct. If you are deemed DEC, the IRB will continue for life, at the reduced rate. And I believe that there are elements at work, behind the scenes that are trying to eliminate that reduction, Because the cost of living doesn't decrease at age 65. Your utility bills don't decrease by 20% at age 65, Rent and mortgages don't decrease at age 65. So why should the financial benefits that have been supporting you, be reduced?
They have been trying to eliminate the reduction for decades..I don't see it happening..I will lose about $700/month at 65 so I am saving funds in my TFSA now for the future..Plus my mortgage will be paid off when I reach 60...It's unfortunate, but I have time to plan so the reduction wont hurt as much.Many will know the reduction is coming yet they will do nothing to mitigate the difference except to bitch...
derngt- CSAT Member
- Number of posts : 142
Location : Petawawa
Registration date : 2009-01-11
Re: IS INCOME REPLACEMENT PAID AFTER YOU TURN 65
Unknown soldier is correct. If you are deemed DEC, the IRB will continue for life, at the reduced rate. And I believe that there are elements at work, behind the scenes that are trying to eliminate that reduction, Because the cost of living doesn't decrease at age 65. Your utility bills don't decrease by 20% at age 65, Rent and mortgages don't decrease at age 65. So why should the financial benefits that have been supporting you, be reduced?
bigrex- CSAT Member
- Number of posts : 4063
Location : Halifax, Nova Scotia
Registration date : 2008-09-18
Re: IS INCOME REPLACEMENT PAID AFTER YOU TURN 65
to get IRB to 65 and beyond I think you need to be declared DEC. I think it drops to 70% of what you were making before you left the service, instead of 90% up until 65.loggie wrote:Just wondering what the VAC policy wrt the subject is.
Unknown Soldier- CSAT Member
- Number of posts : 619
Location : MIR
Registration date : 2019-05-15
Re: IS INCOME REPLACEMENT PAID AFTER YOU TURN 65
https://www.veterans.gc.ca/GCWeb/pdf/Factsheets/IRB.pdf
Not sure what your looking for beyond the policy?
Not sure what your looking for beyond the policy?
EZRider- CSAT Member
- Number of posts : 117
Location : West
Registration date : 2013-07-25
IS INCOME REPLACEMENT PAID AFTER YOU TURN 65
Just wondering what the VAC policy wrt the subject is.
loggie- CSAT Member
- Number of posts : 144
Location : penetanguishene
Registration date : 2013-06-13
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