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Possible changes coming to IPR.
1. If you are within 5 years of your CRA you can elect your IPR and move while serving (No change).
2. If you have over 20 years of service, you can elect IPR two years prior to a selected release date and move while serving (No Change).
Scuttlebutt.....At this time, it is possible to complete a move that you eventually decide will be your IPR move. Having kept all receipts, you then claim the IPR move in arrears.
The right to" claim in arrears" is probably going to be crap-canned.
That change could occur with little notice as early as 1 Sep 13, or 31 Mar 14.....or not for a while, or never (which I hope is the case). I would hope that any change would have been clearly articulated, but as with changes to Separation pay etc - don't hold your breath.
As for me and to situate this....I am in year 35, we finally bought the retirement house (a good deal which ticked most boxes having missed out on 4 others)...My own home went on the market last week. We close on the new house in the near future. Plan was to move when my house sells having elected IPR. Then "claim in arrears".
Not being a gambler, I will now select IPR while on IR (and most likely before selling my own house or moving)....As soon as you elect IPR of course you are done on Imposed restriction (IR)/Separation expense (SE).
I am on my first and last stint on IR. My 35 year point is in Sep 13. I have agreed to stay on till APS 14.
As it's a guessing game, with substantial losses if you loose....I will elect before the first possible policy change date (Sep 13). Having said that policy's can change any time.
I am posting this to offer a bit of scuttlebutt to anyone thinking of claiming in arrears, particularly if they are on IR.
Here is something I did not know also....If you are on IR, and changed your principal residence (date whatever)....and subsequently try and claim in arrears you will have to repay your SE from the date you change principal residence. I agree with this.
This has been a steep learning curve.....getting info should not be as hard as it has been.
My thanks to a certain member on this board who has been a great help.
Cheers, OF
1. If you are within 5 years of your CRA you can elect your IPR and move while serving (No change).
2. If you have over 20 years of service, you can elect IPR two years prior to a selected release date and move while serving (No Change).
Scuttlebutt.....At this time, it is possible to complete a move that you eventually decide will be your IPR move. Having kept all receipts, you then claim the IPR move in arrears.
The right to" claim in arrears" is probably going to be crap-canned.
That change could occur with little notice as early as 1 Sep 13, or 31 Mar 14.....or not for a while, or never (which I hope is the case). I would hope that any change would have been clearly articulated, but as with changes to Separation pay etc - don't hold your breath.
As for me and to situate this....I am in year 35, we finally bought the retirement house (a good deal which ticked most boxes having missed out on 4 others)...My own home went on the market last week. We close on the new house in the near future. Plan was to move when my house sells having elected IPR. Then "claim in arrears".
Not being a gambler, I will now select IPR while on IR (and most likely before selling my own house or moving)....As soon as you elect IPR of course you are done on Imposed restriction (IR)/Separation expense (SE).
I am on my first and last stint on IR. My 35 year point is in Sep 13. I have agreed to stay on till APS 14.
As it's a guessing game, with substantial losses if you loose....I will elect before the first possible policy change date (Sep 13). Having said that policy's can change any time.
I am posting this to offer a bit of scuttlebutt to anyone thinking of claiming in arrears, particularly if they are on IR.
Here is something I did not know also....If you are on IR, and changed your principal residence (date whatever)....and subsequently try and claim in arrears you will have to repay your SE from the date you change principal residence. I agree with this.
This has been a steep learning curve.....getting info should not be as hard as it has been.
My thanks to a certain member on this board who has been a great help.
Cheers, OF