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Government introduces Retirement Income Security Benefit for wounded vets

McG

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Instead of accusations over motivation, it would be nice for efforts to focus on evaluating whether this proposal gets things right for wounded vets.
Liberals slam Conservatives over new benefits for severely wounded veterans
Andrea Janus, CTVNews
09 Mar 2015

The federal Liberals say a new benefit to provide financial support for Canada’s most severely injured veterans in their later years is borne of public pressure and not concern for wounded vets.
The new Retirement Income Security Benefit will provide a monthly income support payment for moderately to severely injured veterans after the age of 65.

Veterans Affairs Minister Erin O'Toole unveiled the proposed new benefit at a press conference in Toronto Monday morning.

In response to the new measure, the Liberals accused the government of taking "years" to offer financial support to severely wounded veterans.

"This action was provoked by public pressure, not concern for those who have served, and only comes after the Prime Minister rejected the sacred obligation to our veterans," Liberal Veterans Affairs critic, Frank Valeriote, said in a statement.

"As the Veterans Ombudsman made clear today, numerous, pressing gaps remain in the benefits and services provided to veterans. Unfortunately, the Conservatives still fail to present a plan that will offer the best of care and support to our veterans and their families."

The new benefit would ensure that, after turning 65, the total annual income of a veteran permanently incapacitated in the line of duty will be at least 70 per cent of what he or she received in benefits prior to age 65, O'Toole said.

Monthly payments will be calculated on a case-by-case basis, taking into account what each veteran received prior to age 65 and other sources of income the veteran may have.

Veterans Affairs estimates that the "immediate cash cost" will be more than $10 million, with only a few hundred veterans being over age 65 within the next five years.

The program could grow to over $1 billion "in the future," the department said.

When implemented, veterans who are already over age 65 will immediately qualify to receive the benefit.

In the event of the veteran's death, his or her spouse would continue to receive the benefit, O'Toole said. By 2020, the department estimates that some 5,800 veterans and survivors will qualify for the benefit upon turning 65.

Moderate-to-severe service-related injuries can permanently affect a veteran's ability to work after they leave the Canadian Forces and to save for retirement, O'Toole noted.

The new benefit will help "provide lifelong financial security" to these veterans, he said.

"This represents much-needed peace of mind for our veterans and their families as they recover and as they grow older," O'Toole said.

Veterans Ombudsman Guy Parent, who had identified a drop-off in support for veterans after age 65 in his October 2013 report to Parliament, said he "appreciates" Monday's announcement.

"It is nice to see that some of the gaps that are in the new Veterans Charter are being addressed," Parent said.

Under the current system, veterans who suffer career-ending, service-related injuries or illness qualify for a series of benefits including the Earnings Loss Benefit, the Permanent Impairment Allowance, and Permanent Impairment Allowance Supplement.

The Earnings Loss Benefit stops at age 65, which can knock up to two-thirds off a veteran's income.

In addition to the new benefit, O'Toole also announced his department's intention to streamline all benefits and payments to severely injured veterans into a single pension.
http://www.ctvnews.ca/politics/liberals-slam-feds-over-new-benefit-for-severely-wounded-veterans-1.2270464
 
In addition to the new benefit, O'Toole also announced his department's intention to streamline all benefits and payments to severely injured veterans into a single pension.

I'm a bit confused about this part. Anyone have any idea what this could mean?
 
Probably instead of getting multiple cheques from SISIP, VAC, etc, it'll all show up from one source.
 
MCG said:
Instead of accusations over motivation, it would be nice for efforts to focus on evaluating whether this proposal gets things right for wounded vets.http://www.ctvnews.ca/politics/liberals-slam-feds-over-new-benefit-for-severely-wounded-veterans-1.2270464

Politics are the refuge of the scoundrel. We should be happy that positive changes are afoot. If they're the result of pressure from lobby groups than great, if they're a result of an election soon than great, if they're the result of someone waking up and having an epiphany than great.
 
Here's the Info-machine's version:
The Honourable Erin O'Toole, Minister of Veterans Affairs, unveiled a proposed new financial benefit today aimed at providing financial stability to Veterans who are moderately to severely disabled and their families. The Minister was joined by Veterans' groups, members of the Canadian Armed Forces and the Veterans Ombudsman, Guy Parent.

Currently, the Earnings Loss Benefit—upon which many moderately to severely disabled Veterans rely—is not available after the age of 65, resulting in a drop in the Veteran's annual income. The new Retirement Income Security Benefit announced today would provide these Veterans with continued assistance in the form of a monthly income support payment beginning at age 65. 

The proposed Retirement Income Security Benefit would work in concert with existing services and benefits to establish a continuum of support that spans a disabled Veteran's entire life. It is designed for those whose ability to save for retirement was directly impacted by their service to our country. Income support would also be extended to families through continued payment of a monthly benefit to the Veteran's survivor.

The Government of Canada also recognizes the complexity of financial benefits available for moderately to severely disabled Veterans. As part of a continued commitment to Veteran-centric care, Minister O'Toole indicated that Veterans Affairs Canada (VAC) is examining ways to combine these new and existing supports into a single monthly pension for severely injured Veterans.

Quick Facts
  • The Retirement Income Security Benefit would ensure that an eligible Veteran's total annual income is at least 70% of what he or she received in financial benefits from VAC before age 65.
  • Monthly payments would be calculated on a case-by-case basis, taking into account how much the Veteran was receiving before age 65 and other sources of income he or she may have beyond age 65.
  • It is estimated that by 2020, approximately 5,800 Veterans and survivors would qualify for the Retirement Income Security Benefit upon turning 65. An estimated 261 Veterans and survivors would receive payments by 2020.
  • Today's announcement responds directly to concerns raised by the Veterans Ombudsman and the House of Commons' Standing Committee on Veterans Affairs.
(....)
I look forward to hearing from those here working with the system now about how useful this will be after aged 65 (also understanding that everyone's individual circumstances will vary).
 
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