Topic: Retro Pay & Allow 1Apr 2014 - 1Apr 2017

[Tcm621]

Here it is everybody

Thanks. Now hopefully some smart financial type can translate that for us. Looks pretty good though.

[MCG]

Translated in a DWAN wide email:

To all members of the CAF,
 
We received the good news on 01 June 2017 that Treasury Board has approved pay and allowances increases as follows:                                                                                                                                                         
 
•   a pay increase of 1.25% for general service officers, pilots, medical and dental officers, and non-commissioned members for four fiscal  years beginning 01 Apr 14
•   an annual increase of 1.25% to the environmental and special allowances for four fiscal years beginning 01 Apr 14
•   an increase of 1.2% Military Factor component in rates of pay, effective 01 Apr 16.

The pay increase and military factor components are compounded from their effective dates, and combine to result in a 6.34% pay increase. The increase in the environmental and special allowances result in a 5.1% compounded increase for those who are entitled to them.
 
Non-Commissioned Members, General Service Officers and Pilots at the rank of Lieutenant-Colonel and Commander and below, and all Medical and Dental Officers are included. Additionally, former members who left the CAF after March 31, 2014 will also receive a retroactive payment and adjustments to their retirement benefits.
 
Members will be paid at these new rates along with a lump sum back-payment starting June 30, 2017.

[PMedMoe]

Would the retroactive part apply to those who have recently released?

[Brihard]

Would the retroactive part apply to those who have recently released?

Yes it will, you'll get retro as it would apply to the day you released, and salary-dependent benefits/pension will see the bump.

[mariomike]

Would the retroactive part apply to those who have recently released?

•Former members who left the CAF after March 31, 2014, will also receive a retroactive payment and adjustments to their retirement benefits.
https://www.canada.ca/en/department-national-defence/news/2017/06/canadian_armed_forcespayandallowanceincrease.html

[PMedMoe]

Yes it will, you'll get retro as it would apply to the day you released, and salary-dependent benefits/pension will see the bump.

•Former members who left the CAF after March 31, 2014, will also receive a retroactive payment and adjustments to their retirement benefits.
https://www.canada.ca/en/department-national-defence/news/2017/06/canadian_armed_forcespayandallowanceincrease.html

Thanks!

[mariomike]

Thanks!

You are welcome. I hope you are enjoying your retirement. 

[CountDC]

By my estimate a Sgt (4) will get a lump sum of approx. $6.6k gross at end Jun and an overall increase of approx. $350 gross per month.  Guess that is better than nothing.

edit of lump sum.  I forgot to include the accum amounts.

[jollyjacktar]

My math must be off.  I calculated half that amount.

[Dolphin_Hunter]

My math must be off.  I calculated half that amount.

Myself as well.  I'm chimping out here with the math, I calculated around 4100.. 

The way I see it, it's better than a ball stompin.

[murrdawg]

If anyone would like an excel spreadsheet to help calculate what their backpay will be, please send me a pm and I will forward the spreadsheet. I will need your email address in your pm.

[jollyjacktar]

Myself as well.  I'm chimping out here with the math, I calculated around 4100.. 

The way I see it, it's better than a ball stompin.

Revenue Canada has that in hand (my balls, that is) and are getting this to pay towards the taxes from the sea pay back pay.  Sigh...

[comfortablynumb]

If anyone would like an excel spreadsheet to help calculate what their backpay will be, please send me a pm and I will forward the spreadsheet. I will need your email address in your pm.

Any chance you could upload it in this thread?

[murrdawg]

I've tried, but I can't attach an excel file here.

[dapaterson]

Could be the file is too big; it should accept xls and xlsx files.  Have you tried ZIPing it?

[Chief Engineer]

Could be the file is too big; it should accept xls and xlsx files.  Have you tried ZIPing it?

Sea pay is going up as well, excellent.

[murrdawg]

Could be the file is too big; it should accept xls and xlsx files.  Have you tried ZIPing it?

Ah! Missed it the first time

[SJBeaton]

Ah! Missed it the first time

I'm not confident this Excel chart is correct. Could someone confirm? Thanks!

[Beadwindow 7]

I'm not confident this Excel chart is correct. When they say compounded, wouldn't that infer that the first year is multiplied by 1.25%, the next year is the new total from the first year x 1.25%, etc.? Could someone confirm? Thanks!

That's what I'm going off of.

Year 14/15= 1.25%
Year 15/16= 2.5%
Year 16/17= 3.75%+ 1.2%

Keeping mind that the 1.2% as of 2016 is not applied to allowances

[SJBeaton]

That's what I'm going off of.

Year 14/15= 1.25%
Year 15/16= 2.5%
Year 16/17= 3.75%+ 1.2%

Keeping mind that the 1.2% as of 2016 is not applied to allowances

Roger that; thanks.

[murrdawg]

I even had a clerk in a pay office check it out, and it's accurate.

[NavyShooter]

I don't have the newer version of Office at home.  (Old/Old school?)

Anyhow, I took the xlsx, saved the format, and punched it out in xls format.

If anyone wants it, drop me a note.

Of note, Spec 1, PO1/CPO2, my guestimate is approximately a total of $8600, with me seeing $4700 after a 45% tax hit.  (45% is about what I saw come off my SDA backpay last month.)

NS

[SupersonicMax]

Quite a substantial pay raise and back pay...  7.5k after tax backpay and 8k a year extra.

Edited for typo!

[comfortablynumb]

8k a month extra?

Damn I really should have taken CEOTP pilot back in the day!

[SupersonicMax]

8k a month extra?

Damn I really should have taken CEOTP pilot back in the day!

Good pick up meant per year!  Edited