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Interest On Back-payments You have to ask for it!

#21 User is offline   greg 

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Posted 09 November 2017 - 02:23 PM

11. RAYMOND HUO to the Minister of Justice: What announcement has he made recently on Teina Pora’s compensation for wrongful conviction and imprisonment?

During question 11 today in Parliament the term Headline Inflation Rate or similar was used
against other calculation types for late? interest that the Cabinet could have chosen..

Hansard will offer a correct version later but maybe you can watch a repeat of Q.11
on Sky or Freeview later today.

Surely this will now take precedence on all ACC. and late interest calculations.

#22 User is offline   MINI 

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Posted 19 November 2017 - 10:37 AM

View PostTomcat, on 26 May 2005 - 05:50 PM, said:

I asked for interest at the time or shortly after court decision, ordering
re instatement and back pay for 26 years.
ACC took from April 2003 to Oct. 2004 sort this out... Deliberately.
and have only paid interest from the date they claim they had all WINZ info was available... Oct 2004.
and paid a few months of interest...
My records show, as do ACC's, that they have had WINZ info back in 1991, if not a lot earlier.
There have been several Court decisions, ordering ACC to pay interest from date of injury or Exit... Stating that WINZ info is not nessecary or required. They ignored all this... Other Docs I have show a clear intent to deny/ deduct/ reduce the true payout...
and ERC entitlement.
Nothing less than criminal intent.

Be aware Mr Wilson/ Mr McGreevy... This one aint ganna "go away"
WINZ HAVE DONE AS THEY SAID THEY part. and refunded the "Overpayment"...
now its your turn to put it all right.



And now this case is precident for all other cases following at the moment. Miller and another one Kearney.


#23 User is offline   MontyP 

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Posted 19 November 2017 - 09:13 PM

View PostMark, on 28 June 2012 - 08:38 AM, said:

Well done.. Make sure ACC have included all your "perks" in your weekly comp calculation.. see Lewis vs ACC & Davis vs ACC

Interest on arrears in ERC/weekly comp appeared in the 1992 act.

Put politely that means 1 month after ACC initially had all the info needed to make payment.

So yes indeed put in a claim for interest on all your backdated ERC/weekly comp. ACC must issue a decision and that decision is reviewable.

Also check that ACC have applied all the Order in Council payrises to your payments.

The mechanic's of the payment are simple... All outstanding payments are accrued up until june 1992 when they start earning interest at the time being prescribed by or for the purposes of section 87 of the Judicature Act 1908.

It is worth fighting for. Interest accrues at 11% 1992 - 2002, 8% 2002 - 2008, 5% from 2008 (rough figures from memory)

Interest on backdated ERC/weekly comp is tax free! (IRD vs Buis, Burston)

Hey many thanks for bumping this info up people, it is going to have possibilities for us.

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