It fucking stupid. If I had the option of taking a lump sum based off me being alive until I'm 80 I would stand to get 91000$
I could use that for a downpayment and pay of debts. but now ill get 125-150$ a month....Wont even pay my cell phone bill
DIRECTLY FROM THE PFL FACT SHEETS:
AM I ABLE TO CONVERT THE ADDITIONAL MONTHLY AMOUNT INTO A LUMP SUM PAYMENT?
No. The additional monthly amount is above and beyond what you would have received as a lump sum Disability Award (DA) payment. It is only available as a monthly payment for life...
Ok...So now I am confused..
I was paid out 15% back in 2010....Will I have the option to receive my PLF in a Lumpsum? or do I HAVE to take a monthly payment?
This is absolutely ridiculous.
It make sense for someone who is going to be receiving the maximum each month not to take a lump sum, but for someone like me who received a lump sum at 15% 9 years ago. Based on life expectancy, I still have 50 years or so left.
so I going to get like 80$ a...
I have a few questions about this Pension for Life fiasco we are all about to deal with
I released in 2010 with a 15% pay out from VAC for 40,000$ and a top up in 2017 of 7600$
With this new PFL pain and suffering compensation being 1150 a month and me being eligible for 15% of that (172.50$)...
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