Author Topic: RFRG and other questions - annuity in August  (Read 255 times)

0 Members and 1 Guest are viewing this topic.

Offline NJD

  • Guest
  • *
  • 110
  • Rate Post
  • Posts: 6
RFRG and other questions - annuity in August
« on: February 04, 2017, 10:51:03 »
I'm trying to be prepared for a release date in August of this year. It is actually pertaining to my husband but I am the family Chief Financial Officer. Please excuse improper or misuse of military terms.

We did not take the RFRG at the time it was frozen..
With the information I had at the time (all I had was the CANFORGEN), it made sense to me that we should leave it until release because of anticipated promotions and IPC increases. We did not have RRSP room and we already elected a lump sum pension buyback from RRSPs. So it would have been a taxable event.

I have not kept abreast of any replacement severance pay that may have come into effect after RFRG. And I gave up pestering him for info long ago.

Enrolled 1996
No NES or other breaks in service
Continuous Class B or C after 2007
9,131 days reached in 2015
Colonel IPC 3

When he releases in August, he will take an immediate annuity.

How long does it take for the RFRG payment? I'm wondering if we should expect it in the 2017 tax year? Hopefully 2018?

Is there any other severance that I'm not aware of?

What is the expected processing time these days for the first pension payment?

We're traveling for a year. Is the RFRG payment still only a paper cheque or is direct deposit now an option?

I've been planning our trip around the world for about seven years and he only just confirmed that he intends to release. Though he may possibly re enrol upon our return.

We're funding the trip on savings so delays won't be a hardship but I want to plan taxable events. And arranging everything during travel abroad is difficult.

I would appreciate any help, advice or criticism from this community. I expect DH would be more interested in this if I wasn't a wacko about personal finance. As it is, he only responds to my requests for information and in quite a delayed fashion at that.

While I'm at it, I'd like a bonus question:
I just read about his health benefits being applicable to living abroad. Presently I was relying on my benefits combined with purchasing travel insurance. Does any one have experience with/knowledge of this?

Thanks much, NJD