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I think some here are going to be very disappointed with the top up in April.
The law is written pretty clearly that we WONT be getting the COLA increases every year since we got our award.
The easiest way to look at it is, take the value of the new increased 100% award ($350k) and subtract the 100% from 2016 ($305,000 I think?). THATS what we get topped up, not any of the COLA increases. Then just apply your % from that total ($45,000). So a 50% award should mean $22,500.
That's why the example from the VAC website didn't include the year awarded, because it doesn't matter. All 100%'ers will get the same ($45k). All 50% will get the same and so on.
I think it's bullshit because money has a time value. If you were entitled to $XX amount in 2008 or 2009, and didn't get it, that is money that could have been earning you interest or a return in some other investment.
But it is what it is. I don't understand why VAC just doesn't release the formula they intend to use. The law is on the books. They already have all the information they need to make their calculations.
The law is written pretty clearly that we WONT be getting the COLA increases every year since we got our award.
The easiest way to look at it is, take the value of the new increased 100% award ($350k) and subtract the 100% from 2016 ($305,000 I think?). THATS what we get topped up, not any of the COLA increases. Then just apply your % from that total ($45,000). So a 50% award should mean $22,500.
That's why the example from the VAC website didn't include the year awarded, because it doesn't matter. All 100%'ers will get the same ($45k). All 50% will get the same and so on.
I think it's bullshit because money has a time value. If you were entitled to $XX amount in 2008 or 2009, and didn't get it, that is money that could have been earning you interest or a return in some other investment.
But it is what it is. I don't understand why VAC just doesn't release the formula they intend to use. The law is on the books. They already have all the information they need to make their calculations.