
How to make your military move a financial success
SISIP Financial, Esquimalt — You’ve got your posting message, setting the ball in motion for your move. Prioritizing the financial implications and budgeting your relocation is the first step to reducing what Canadian Armed Forces (CAF) members say is one of the most significant pressure points of moving. We’ve got you covered! Check out the tips below to help you get a head start so you can guarantee a financially successful move. Five steps to taking control of your finances as you prepare for relocation: 1. Register with BGRS As soon as you receive your posting message, ensure your Brookfield Global Relocation Services (BGRS) account is active. You’ll track your move through the BGRS app, which includes costing out your house-hunting trip, knowing how you’ll be reimbursed for moving costs, and what’s covered – and what’s not – for you and your family. 2. Understand your eligible relocation costs Every move is unique. Most moving costs are covered, but there are monetary and time limits on reimbursements. Get clear on what you can and cannot claim. Remember to keep all receipts for your move, starting now. It’s recommended you designate a tabbed folder to save every proof of purchase as you go. Remember, BGRS now provides much of your reimbursement up front as a lump sum. Whatever you don’t spend – or cannot prove you’ve spent with eligible receipts – you’ll have to pay back. 3. Compare current and future income Get a sense of how much money will come into your house each month at your new location. Look at variations in provincial income tax deductions as part of this exercise, which affects your net pay. Examine any benefits you receive where you currently live – for example, childcare subsidies, caregiver or child tax benefits – and determine if you’ll receive...




















