Friday, 3 June 2016

$50,000 in 17 Minutes

No this isn’t a click bait title: this actually happened to us today. I got some explaining to do...

Since our move, we have been slowing updating our mailing address. I finally gathered up all the numbers for G’s work related things (such as his health insurance, my health insurance, life insurance, pension, etc) and he had the lovely task this afternoon of waiting on hold.

When he called the pension phone number I asked him to inquire about why we haven’t received a pension statement in 2 years. So when he finally got on with an agent he changed the address and then asked about the statements. Turns out a year and a half ago the management of the pension switched and the government (who now is in change of the pension) is having trouble figuring out statements. ...Okay? 

Anyways, the guy told G there was a better way to view his pension information online that gives an up to date (literally to the day) breakdown and a lot more detail. 

G goes to work - as for security reasons the website can only be viewed on the work computers - and sends me a screen shot of the information. “Is this what you need?"

Transfer Lump Sum Amount: $70,486.40

I ask him to click on a few more areas that have definitions/explanations because I couldn’t believe the amount. But after doing a bit more reading: yup, that is the amount he is entitled to transfer if he were to quit today. 

This is crazy to me because I had been using the pension amount of $21,659 in our Networth statements because that’s what I was able to pull off from his last pension statement then adding the amount he contributing to it (what I see taken off his pay cheques). But failed to even think about what the RCMP is matching, plus his years of service, plus some other magical spell - since I didn’t think he would be entitled to any of it if he were to quit! Boy was I wrong...

That phone call was only 17 minutes, I checked the phone log. Most of that time was spent on hold listening to instrumental 'Message in a Bottle' by The Police (omg I just got the irony). That 17 minutes netted us exactly $48,826. 

Although this is pretty sick news and we are more than happy to accept (lol) we are going to stay on the same path as before. This is definitely motivating though!

- M 

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