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sisip cola with vac cola percentages

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Post by derngt Fri 24 Nov 2023, 18:14

1993firebird wrote:No replies to my post please. I was only venting on the issue of the differences in the COLA's for a veteran approved for the 35% top up from both SISIP and VAC and losing out on the difference in the COLA's because they have to take the 35% from SISIP at the lower COLA. I read that no law firm will take on this issue and to move on , moving on.

Thanks.
You are looking at the COLA issue from the wrong view point. Please read what Dave Stated. He was about to put it into something that we all understand.
Dave Mushing
November 14 at 6:37 PM
·
So...the topic of whether veterans on LTD are disadvantaged or not because of the 2% cap on indexing.
It wasn't until I got the e-mail from the OVO that discussed how IRB treats LTD that it sank in for me.
Short answer: Nope. IRB doesn't care what happens to your LTD indexing. If VAC's indexing on IRB is 6.5%, then you will see 6.5% increase on your bottom line.
Proof? Here's two fictitious veterans. Veteran A gets 2% indexing from LTD and 6.5% from VAC (which is reality). Veteran B gets 6.5% indexing from LTD and 6.5% from VAC - which is what some veterans think would give you more money.
Nope. Hopefully the two examples side by side are clear about how I started with a fictitious $80K salary, added the LTD indexing to it, then converted it to the monthly 75% payment amount. Then I did the same with IRB, applied indexing, obtained the 90% amount, and subtracted the LTD payment as an offset. Then I added up what each veteran gets per month in LTD and IRB combined. It's the same amount, meaning that the 2% cap on LTD is meaningless if you're on IRB.
If you are only receiving LTD, then the 2% indexing cap burned you for 4.5% this year, and probably 2.x% this coming year.
Hopefully this clears it up, but I'll entertain any questions you have. Go to the following link to see the example https://www.facebook.com/groups/100306030029293/search/?q=indexing


derngt
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Post by derngt Fri 24 Nov 2023, 17:55

puddleduk2 wrote:Any information seen on cost of living adjustments for 2024?

Sisip ltd will continue to be a maximum of 2% for those still in receipt of it for 2024,

Those on the VAC coverage will see more than the 2% for 2024 as inflation/cost of living has not dropped below the 2% mark.

The COLA for CFSA is 4.8% and VAC is 4.4%. As you are aware LTD is 2%. Which really doesnt matter because VAC indexed your whole amount.

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Post by puddleduk2 Fri 24 Nov 2023, 16:31

Any information seen on cost of living adjustments for 2024?

Sisip ltd will continue to be a maximum of 2% for those still in receipt of it for 2024,

Those on the VAC coverage will see more than the 2% for 2024 as inflation/cost of living has not dropped below the 2% mark.
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Post by 1993firebird Mon 25 Sep 2023, 15:40

No replies to my post please. I was only venting on the issue of the differences in the COLA's for a veteran approved for the 35% top up from both SISIP and VAC and losing out on the difference in the COLA's because they have to take the 35% from SISIP at the lower COLA. I read that no law firm will take on this issue and to move on , moving on.

Thanks.

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Post by 1993firebird Mon 25 Sep 2023, 15:20

I know the class action lawsuit has nothing to do with the COLA amount. I referenced the class action lawsuit as a reference point , because I received no percentage from SISIP when I was medically released because SISIP counted tax free income from VAC as taxable income which was the grounds of the lawsuit and I became a class member and thus received the first 2 years top up to 75% , back paid. I then had to apply for coverage after the first 2 years as I think I was told that it is mandatory to apply to SISIP for coverage past the first 2 years. I was also approved for the same top up of the 35% from VAC but did not receive it from VAC because I receive it from SISIP. The rest is in the other post.

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Post by 1993firebird Mon 25 Sep 2023, 15:09

My numbers do make since. SISIP is not paying me 75%. I receive a medical military pension of 40% and a top up of 35% from SISIP bringing the total percentage to 75%. I receive another 15% top up from VAC for a total of 90% of my final year income. The issue is that the VAC COLA for 2023 is 6.6% and the COLA for SISIP Manulife is 2%. I receive SISIP at 35% because Manulife is the primary provider. Is it mandatory to submit a claim to SISIP first and if granted then is it mandatory to accept the decision or can a veteran turn it down and apply for the same income benefit from VAC ? I am approved 35% from SISIP at a COLA of 2% and 15% from VAC at a COLA of 6.6%. If I was denied by SISIP or could turn down their coverage for the 35% , I would then get the 35% from VAC as I am approved by VAC for the same income top up , as well as get the 15% from VAC. The way it is now , I received a 2% COLA for 2023 on 35% top up from SISIP when I could be receiving a 6.6% COLA for 2023 on 35% from VAC. Is this a clearer explanation ? The issue is , is it mandatory to take SISIP coverage or can a veteran turn SISIP coverage down if they are approved by VAC for the same income percentage top up at a much higher COLA.

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Post by derngt Mon 06 Feb 2023, 10:04

1993firebird wrote:Hello ,

I am covered by Manulife for 35% and VAC for 15% because Manulife is the primary coverage and therefore must be applied to first. I was part of the SISIP class action lawsuit and appealed to get my claim with Manulife granted and won. Now I receive a COLA amount of 2% from Manulife when if I did not take part in the appeal process in the class action lawsuit I would receive 6.5 % from VAC on 50% because I am covered by VAC as well for the same benefits I receive from Manulife. Is there a lawsuit in progress for this or a way to refuse coverage from Manulife so I can go from 2% on 35% from Manulife to 6.5% on 35% from VAC?

Your numbers make no sense. SISIP is paying you 75% and VAC is paying you 15%. The COLA amount/lawsuit etc has nothing to do with each other. The 2% is policy and until this year all was well with the 2% for the last 20 plus year. The lawyers were asked if there was grounds for a lawsuit due to the 2%max with SISIp the answer was NO. I say again NO. No lawyer will fight this policy. SO time to move on.


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Post by 1993firebird Mon 06 Feb 2023, 08:40

Hello ,

I am covered by Manulife for 35% and VAC for 15% because Manulife is the primary coverage and therefore must be applied to first. I was part of the SISIP class action lawsuit and appealed to get my claim with Manulife granted and won. Now I receive a COLA amount of 2% from Manulife when if I did not take part in the appeal process in the class action lawsuit I would receive 6.5 % from VAC on 50% because I am covered by VAC as well for the same benefits I receive from Manulife. Is there a lawsuit in progress for this or a way to refuse coverage from Manulife so I can go from 2% on 35% from Manulife to 6.5% on 35% from VAC?

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Post by derngt Tue 10 Jan 2023, 06:40

puddleduk2 wrote:No firm answer on vac creating another class of veteran in coverage

thank you for the info on percentages (70% versus 75% @ age 65), good thing i am asking questions and not stating fact

i can only speak for myself in that i am as abbreviated ‘dec’, that at age 65 the amount will be reduced and fall under vac instead of currently combined under both sisip and vac

too many changes to the abbreviations to keep up with them all in the last decade

all of my current coverages under, sisip ltd, cpp(d) and vac have signed consent to access each others files to confirm any and all amounts received including and not limited to my cra taxation filing done each year.

another question on the 90% irb lifetime amount.

is this from when granted to the veteran, or from release, as i have been out since 2004, but only started receiving this extra coverage on top of sisip since granted about 5~6 years ago?

Just to clarify its 70% of your current 90% IRB. I released in 2005 and didn't start back with VAC until 2018. When my IRB was calculated it was based on the 2019 salary and not my salary at release. When I became DEC in 2019 I was also given the career progression factor. I also get SISIP and am collecting CPPD. Yes at 65 its going to be a mess making sure I get paid correctly. BTW the various groups do not communicate as they should. It is still the responsibility of the veteran to provide any financial update.

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Post by puddleduk2 Mon 09 Jan 2023, 17:19

No firm answer on vac creating another class of veteran in coverage

thank you for the info on percentages (70% versus 75% @ age 65), good thing i am asking questions and not stating fact

i can only speak for myself in that i am as abbreviated ‘dec’, that at age 65 the amount will be reduced and fall under vac instead of currently combined under both sisip and vac

too many changes to the abbreviations to keep up with them all in the last decade

all of my current coverages under, sisip ltd, cpp(d) and vac have signed consent to access each others files to confirm any and all amounts received including and not limited to my cra taxation filing done each year.

another question on the 90% irb lifetime amount.

is this from when granted to the veteran, or from release, as i have been out since 2004, but only started receiving this extra coverage on top of sisip since granted about 5~6 years ago?
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Post by derngt Mon 09 Jan 2023, 05:48

puddleduk2 wrote:Sisip is limited to a yearly cola maximum increase of 2%.

Vac’s cola increase for 2023 is 6.3% as covered on previous posts on this site.

Sisip covers 75%,

Vac covers the additional 15%, bringing the combined percentage to 90% coverage.

Those solely covered by vac see 90% on coverage.

At age 65 sisip ceases, vac covers those going forward a decreased amount equal to 75% of coverage.

Those solely on vac for coverage will also see a decrease to 75% of coverage.

My query based on an amount of $100 used as a percentage, or 100%

Member 1 on sisip coverage  -   $75 x 2%. = $1.50
                      vac  coverage  -  $ 15 x 6.3%. = 0.94
                                             Total @  90% coverage with a $2.44 cola increase per $100 salary on coverage.

Member  2 on vac coverage   -  $90  x 6.3%  = $5.67
                                              Total  @ 90% coverage is an increase of $5.67 cola increase per $100 salary on coverage.

Both members are covered at 90%, but the programs do not weigh the same at the end of the day until after
age 65.

Those who were mandated into sisip will see less than half the cola coverage,

this will not just be a this year (2023) issue,

DND holds the sisip policy and VAC are joined, minister (dnd) and deputy minister (vac/dnd).

My question is does VAC cover the difference of the cola as they both mirror, modify, and coordinate with the sisip coverage, both before and after age 65?


Oh and at 65 your IRB drops to 70% of your 90% IRB amount. This only applies if you are declared DEC. Otherwise you simply lose the IRB. Its import to pass on correct information.

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Post by derngt Mon 09 Jan 2023, 05:43

puddleduk2 wrote:Sisip is limited to a yearly cola maximum increase of 2%.

Vac’s cola increase for 2023 is 6.3% as covered on previous posts on this site.

Sisip covers 75%,

Vac covers the additional 15%, bringing the combined percentage to 90% coverage.

Those solely covered by vac see 90% on coverage.

At age 65 sisip ceases, vac covers those going forward a decreased amount equal to 75% of coverage.

Those solely on vac for coverage will also see a decrease to 75% of coverage.

My query based on an amount of $100 used as a percentage, or 100%

Member 1 on sisip coverage  -   $75 x 2%. = $1.50
                      vac  coverage  -  $ 15 x 6.3%. = 0.94
                                             Total @  90% coverage with a $2.44 cola increase per $100 salary on coverage.

Member  2 on vac coverage   -  $90  x 6.3%  = $5.67
                                              Total  @ 90% coverage is an increase of $5.67 cola increase per $100 salary on coverage.

Both members are covered at 90%, but the programs do not weigh the same at the end of the day until after
age 65.

Those who were mandated into sisip will see less than half the cola coverage,

this will not just be a this year (2023) issue,

DND holds the sisip policy and VAC are joined, minister (dnd) and deputy minister (vac/dnd).

My question is does VAC cover the difference of the cola as they both mirror, modify, and coordinate with the sisip coverage, both before and after age 65?



To clarify, the VAC indexing rate is 6.5%, the 6.3% is for your CF pension only. NO VAC will not make up the difference. In fact, and based on their VAC policy you have to report all income increases. Therefore, VAC can claw back all your SISIP indexing amount. Remember your IRB is capped at 90%. This clearly was not thought out when VAC added IRB. 2% or less was the going indexing rate for decades. I am holding 2 letters based on VAC policy one says report new income and my IRB will be reduced and another letter stating I don't need to report added income. No one thought our indexing would go up so drastically. So be careful in what you ask VAC

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Post by Lordporky Mon 09 Jan 2023, 00:03

Thanks for your post -I didn’t know sisip was capped at 2%. It all makes sense now!

Im one on those 75% sisip, 15% vac people. I recently saw the cola increase to irb on myvac account and it was much more than the expected 6.3 %. I emailed them seeking clarification but only got a “trust us, it’s right” kind of answer. I’m not loving that because overpayments are always recollected eventually.

Your post could explain why the bump was more than 6.3%. Maybe vac is making up the difference?

I’m surprised this wasn’t communicated to us. Maybe there’s a letter coming in the mail.

I’ll reply again if I get more information.

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Post by puddleduk2 Sat 07 Jan 2023, 09:10

Sisip is limited to a yearly cola maximum increase of 2%.

Vac’s cola increase for 2023 is 6.3% as covered on previous posts on this site.

Sisip covers 75%,

Vac covers the additional 15%, bringing the combined percentage to 90% coverage.

Those solely covered by vac see 90% on coverage.

At age 65 sisip ceases, vac covers those going forward a decreased amount equal to 75% of coverage.

Those solely on vac for coverage will also see a decrease to 75% of coverage.

My query based on an amount of $100 used as a percentage, or 100%

Member 1 on sisip coverage  -   $75 x 2%. = $1.50
                      vac  coverage  -  $ 15 x 6.3%. = 0.94
                                             Total @  90% coverage with a $2.44 cola increase per $100 salary on coverage.

Member  2 on vac coverage   -  $90  x 6.3%  = $5.67
                                              Total  @ 90% coverage is an increase of $5.67 cola increase per $100 salary on coverage.

Both members are covered at 90%, but the programs do not weigh the same at the end of the day until after
age 65.

Those who were mandated into sisip will see less than half the cola coverage,

this will not just be a this year (2023) issue,

DND holds the sisip policy and VAC are joined, minister (dnd) and deputy minister (vac/dnd).

My question is does VAC cover the difference of the cola as they both mirror, modify, and coordinate with the sisip coverage, both before and after age 65?
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