Pay Canadian Reservists their Disability Pension NOW!
The Issue
In 2007, Canada set up a new pension, the Reserve Force Pension.
The Regular Forces have had a pension since forever, it seems, but the current Canadian Forces Superannuation Act has been in place since 1959.
There are several issues that are VERY problematic:
1. Reservists are forced under law to pay 7% COMPOUND interest to buy back service versus 4% SIMPLE interest for the Regular Force retiree.
2. Reservists get 1.5% of career earnings as the pension versus 2% of the best 5 year's average pay for the Regular Force veteran. This increases the value of the pension by excluding the low salaries earned at the start of your career. Even the Canada Pension Plan excludes 16% of earnings to account for this. So Reservists are getting treated worse than Regular Force veterans & the general public!
3. In order to access their pension, a property Right BTW, a Reservist must be too disabled to ever work again! A Regular Force veteran must be unable to do his own job, so he could get medically released & start a new job without losing his' pension. In fact, the Canadian Forces makes a Reservist apply for Canada Pension Plan Disability as a CONDITION for getting his property RIGHT!
4. All of this adds up to a potentially huge issue or more:
A. There are about 5,000 Reservists getting a Deferred Annuity instead of an Immediate Annuity even though the plan has only been alive since 2007. In comparison, there are about 3,000 Regular Force Deferred Annuitants. This indicates a HUGE problem as there are about 5,000 DISABLED Reservists not getting their money!
B. The CPPD requirement is ARBITRARY. The Office of the Superintendent of Financial Institutions (OSFI) audit these pensions & they stated in 2010 & 2013 that the Reserve Force pension is NOT INTEGRATED with CPP! If so, why ask for CPPD approval?
C. If so, why deduct the Bridging? The CF tells us CFSA s. 15(2)(b) allows for this BUT a Reservist's pension is authorized in Part 1.1 not Part 1, where that section resides! Therefore, it has no legal application to a Reservist, probably why OSFI said it was not INTEGRATED with CPP.
D. Lastly, it is TOTALLY UNFAIR. Saying a Reservist must be so disabled that they can never work again while a Regular Force soldier faces a much lower test is so obviously gross DISCRIMINATION that I won't bother explaining it.
In short, Canada should walk the talk & treat Reservists with at least the same level of RESPECT due to a Regular Force soldier.
Laws that discriminate are the worst form of discrimination as they condition society to accept treating a minority as less worthy.
STOP!
FIX THIS!
Petition Closed
The Issue
In 2007, Canada set up a new pension, the Reserve Force Pension.
The Regular Forces have had a pension since forever, it seems, but the current Canadian Forces Superannuation Act has been in place since 1959.
There are several issues that are VERY problematic:
1. Reservists are forced under law to pay 7% COMPOUND interest to buy back service versus 4% SIMPLE interest for the Regular Force retiree.
2. Reservists get 1.5% of career earnings as the pension versus 2% of the best 5 year's average pay for the Regular Force veteran. This increases the value of the pension by excluding the low salaries earned at the start of your career. Even the Canada Pension Plan excludes 16% of earnings to account for this. So Reservists are getting treated worse than Regular Force veterans & the general public!
3. In order to access their pension, a property Right BTW, a Reservist must be too disabled to ever work again! A Regular Force veteran must be unable to do his own job, so he could get medically released & start a new job without losing his' pension. In fact, the Canadian Forces makes a Reservist apply for Canada Pension Plan Disability as a CONDITION for getting his property RIGHT!
4. All of this adds up to a potentially huge issue or more:
A. There are about 5,000 Reservists getting a Deferred Annuity instead of an Immediate Annuity even though the plan has only been alive since 2007. In comparison, there are about 3,000 Regular Force Deferred Annuitants. This indicates a HUGE problem as there are about 5,000 DISABLED Reservists not getting their money!
B. The CPPD requirement is ARBITRARY. The Office of the Superintendent of Financial Institutions (OSFI) audit these pensions & they stated in 2010 & 2013 that the Reserve Force pension is NOT INTEGRATED with CPP! If so, why ask for CPPD approval?
C. If so, why deduct the Bridging? The CF tells us CFSA s. 15(2)(b) allows for this BUT a Reservist's pension is authorized in Part 1.1 not Part 1, where that section resides! Therefore, it has no legal application to a Reservist, probably why OSFI said it was not INTEGRATED with CPP.
D. Lastly, it is TOTALLY UNFAIR. Saying a Reservist must be so disabled that they can never work again while a Regular Force soldier faces a much lower test is so obviously gross DISCRIMINATION that I won't bother explaining it.
In short, Canada should walk the talk & treat Reservists with at least the same level of RESPECT due to a Regular Force soldier.
Laws that discriminate are the worst form of discrimination as they condition society to accept treating a minority as less worthy.
STOP!
FIX THIS!
The Decision Makers
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Petition created on January 6, 2016