Releasing after 10 years

[Radchris]

Hy guys I have a few questions that I couldn't get answered using the search feature. First of all Ive been in for over ten years now and Ive put In my Voluntary release.  I am breaking my IE contract, I have 9 and half years left.
Ive heard that after 10 years service you get a few more things if you release.

I was recruited in Vancouver BC, then posted to gagetown NB after my QL3.  Am I paying to move my family back to Vancouver?

What about return to contributions and pension? I think I get  a chuck of what I paid into but is it taxed if I ask for lump sum?

I want to be a Power Lineman back in BC, Ive heard of people when releasing spend their last 6 months doing OJT at whatever second career they have chosen.

Thanks !

 

[George Wallace]

Hy guys I have a few questions that I couldn't get answered using the search feature. First of all Ive been in for over ten years now and Ive put In my Voluntary release.  I am breaking my IE contract, I have 9 and half years left.
Ive heard that after 10 years service you get a few more things if you release.

I was recruited in Vancouver BC, then posted to gagetown NB after my QL3.  Am I paying to move my family back to Vancouver?

What about return to contributions and pension? I think I get  a chuck of what I paid into but is it taxed if I ask for lump sum?

I want to be a Power Lineman back in BC, Ive heard of people when releasing spend their last 6 months doing OJT at whatever second career they have chosen.

Thanks !

Not to be ignorant or mean spirited, but you do know that all of your questions can be accurately answered and explained to you by the RELEASE SECTION at your Base.  They will have your file and access to all of your information.  They can explain to you much better than us what you are entitled to, as they have all your personal information and access to your pay.  They are also current on all the information relating to Releases.  So, SEARCHING here on a non-CF site for information pertaining to your particular Release is not productive.  This is what the people at the RELEASE SECTION are paid the big bucks for.

 

[aesop081]

What about return to contributions and pension? I think I get  a chuck of what I paid into but is it taxed if I ask for lump sum?

Nope. You do not get return of contributions.

■different options if you leave the CF before you are eligible for an immediate pension:

•transfer the value of your pension to a locked-in retirement vehicle, to use for retirement income when you are ready to retire; or
•leave your pension in the pension fund – often called deferring your pension – until you reach an age when you are eligible to receive a pension.

That is from http://www.cmp-cpm.forces.gc.ca/dgcb-dgras/ps/pen/reg/welcome-bienvenu-eng.asp


As you can see here :  http://www.cmp-cpm.forces.gc.ca/dgcb-dgras/ps/pen/reg/ap-ar/benefits-prestati-eng.asp#wpb-qpl

Return of contributions is for less than 2 years of service.

 

[RMS MWO]

Radchris,

I totally agree with George's comments. While I appreciate the fact that you are making a pretty significant decision with your life, this isn't the proper place to ask for release advice. You really need to approach your release folks at your base and get the definitive answers in order for you to make an informed decision.

 

[Bruce Monkhouse]

Nope. You do not get return of contributions.

That is from http://www.cmp-cpm.forces.gc.ca/dgcb-dgras/ps/pen/reg/welcome-bienvenu-eng.asp


As you can see here :  http://www.cmp-cpm.forces.gc.ca/dgcb-dgras/ps/pen/reg/ap-ar/benefits-prestati-eng.asp#wpb-qpl

Return of contributions is for less than 2 years of service.

Not really relevant today but that has obviously changed since I got out in 1988 as I got a return of contributions.

 

[aesop081]

Not really relevant today but that has obviously changed since I got out in 1988 as I got a return of contributions.

Yup, that why its even more important that one carefuly considers getting out or not before their 20/25.