CANFORGEN on Pay and PIL

[dapaterson]

I am still waiting for my election letter.... ???

Go to your OR and inform them you haven't received it.  Do this sooner rather than later.

You have until 14 March to elect - if you decide to cash out and submit on 15 March, you'll get nothing until you release becasue you missed the deadline.  There will be no extensions, no "sorry, my dog ate it".

 

[Nfld Sapper]

Go to your OR and inform them you haven't received it.  Do this sooner rather than later.

You have until 14 March to elect - if you decide to cash out and submit on 15 March, you'll get nothing until you release becasue you missed the deadline.  There will be no extensions, no "sorry, my dog ate it".

Evidently the election letter is local produced via them...

 

[dapaterson]

You should have received a letter stating "Nfld Sapper has 14 years 24 days of CF service for the purposes of CFSP".  Those were produced centrally and mailed to the mailing address you have in the pay system.

If you didn't get one, then your OR can produce the same information locally.

 

[Nfld Sapper]

Yeah I got that one... thought they would send us something like what they did for the Pension Plan wrt the election process......

 

[ARMY_101]

Yeah I got that one... thought they would send us something like what they did for the Pension Plan wrt the election process......

The form that says you have xx years xx days should have been mailed to you, and can also be reproduced locally.

The blank election forms themselves (i.e. "I want ALL my years of severance pay...") can be downloaded from the DIN, or the OR should have blank copies at the front desk.

 

[GnyHwy]

Here you go. https://www.cfpsa.com/en/AboutUs/SISIPFS/Documents/CFSP_Election%20Form.pdf

 

[Scoobie Newbie]

Forms submitted, looks like I'll be get $21,000 with a $8000 deposit to the gov't for taxes. 

 

[DAA]

Forms submitted, looks like I'll be get $21,000 with a $8000 deposit to the gov't for taxes.

I'd be applying for the Tax Waiver from CRA, if you can.  If you don't have the letter or haven't yet applied and you have already "elected PIL", you can still submit the request to CRA and have a copy attached to your PIL Election Form pending receipt of the letter.  In which case, your PIL will not be paid out until you receive the letter and provide that to your BOR.

 

[captloadie]

The waiver is only used if the member is rolling the funds over to an RRSP. Members taking the cash to put against other than an RRSP need to have the taxes withheld at source. At least, that what the legal thing to do is.

 

[Halifax Tar]

The city council of Saint John, N.B., heard some blunt language in November 2012. Faced with a pension plan that was underfunded to the tune of at least $195 million, one pension consultant told council the city had "the worst pension plan I’ve ever seen."

Shared-risk pension plans are largely an unknown quantity in Canada. But Rowland knows all about them. She had just chaired a pension task force in New Brunswick that had recommended the adoption of the shared-risk model in the province. Enabling legislation was subsequently passed and the shared-risk pension plan became a reality last July.

http://www.cbc.ca/news/canada/story/2013/02/21/f-shared-risk-pension-plan.html

__________________________

Interesting article on NB new pension administration.  I wonder if this would gain traction with the federal pension plans and ours as well.  I will have to read more on this method before I cry that the sky is falling.

 

[BinRat55]

Again, if you've only ever served in the Reg F and take half or less as PIL your clerk will enter it into CCPS and you'll be paid on the next payrun (or possibly the one after).  For a large number of CF Reg F members the process will be relatively simple and painless.

I'm now being told June!! Next payrun my ass...

 

[Scoobie Newbie]

Better then the 3 years I'll wait so um...suck it up.

 

[BinRat55]

That's June for the 49.9% - and I shouldn't have to suck ANYTHING up... I was commenting on the accuracy of information I personally received some months ago. Please watch your tone.

 

[PuckChaser]

That's June for the 49.9% - and I shouldn't have to suck ANYTHING up... I was commenting on the accuracy of information I personally received some months ago. Please watch your tone.

Well since you personally received that information, it must be good as gold, right? By your profile, you seem to have a lot of experience in the CF. So maybe you could use that experience to deduce that anytime you get this money before you actually retire, is in fact, receiving it early and count your blessings on that account? This isn't some extra windfall you're getting, its something you're supposed to get when you retire/release.

 

[ARMY_101]

Anyone who was told June 2013 was mistaken.  The first disbursement is in April 2013, the next in July, the next in October, and so on.  If your unit's OR was organized and on the ball (and you didn't wait until March 12th at 10:30pm to elect), you should have your money in April.

 

[captloadie]

That's June for the 49.9% - and I shouldn't have to suck ANYTHING up... I was commenting on the accuracy of information I personally received some months ago. Please watch your tone.

I was told several months ago there would be CADPAT pants in my size coming soon . . . still waiting.  As well as of course we'll have all the paperwork for that order completed in time for end year purchases . . . wrong again.

The point is that anything on this scale is going to take time and run into delays.

 

[Eye In The Sky]

Well since you personally received that information, it must be good as gold, right? By your profile, you seem to have a lot of experience in the CF. So maybe you could use that experience to deduce that anytime you get this money before you actually retire, is in fact, receiving it early and count your blessings on that account? This isn't some extra windfall you're getting, its something you're supposed to get when you retire/release.

Getting it early....did you miss a few CANFORGENs??  The RCMP got theirs, from the same government/TB decision on severance...before Christmas!  How are we 'blessed'?

:

 

[PuckChaser]

Getting it early....did you miss a few CANFORGENs??  The RCMP got theirs, from the same government/TB decision on severance...before Christmas!  How are we 'blessed'?

:

Because if the government didn't terminate severance, we'd all be waiting until retirement? Glass half full or half empty, its a personal choice.

 

[jollyjacktar]

Because if the government didn't terminate severance, we'd all be waiting until retirement? Glass half full or half empty, its a personal choice.

But if they'd not terminated severance, we'd still be getting that glass added to regardless.  Maybe it's full of piss...

 

[PPCLI Guy]

I'm willing to bet that 80% of the CF didn't even know we are entitled to a severance package before the whole PiL thing started.

We need to get over ourselves.