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Disability Award, Choice of Lump Sum, Monthly Payments or a Combination of Both

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Re: Disability Award, Choice of Lump Sum, Monthly Payments or a Combination of Both

Post by Bruce72 on Sun 09 Oct 2016, 19:21

Thank you steelgunner.

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Re: Disability Award, Choice of Lump Sum, Monthly Payments or a Combination of Both

Post by Guest on Sun 09 Oct 2016, 18:33

http://www.veterans.gc.ca/eng/services/after-injury/disability-benefits/disability-award/da-calc

Disability Award Payment Calculator
If you are receiving a Disability Award of 5% or more, you have flexible payment options:

a lump-sum payment
annual payments over the number of years of your choosing, or
a combination of these two options
This calculator can help you decide which option is best for you.


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Re: Disability Award, Choice of Lump Sum, Monthly Payments or a Combination of Both

Post by Bruce72 on Thu 06 Oct 2016, 21:16

Thanks bigrex, I know I can always count on you and other members of CSAT to point me in the right direction.

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Re: Disability Award, Choice of Lump Sum, Monthly Payments or a Combination of Both

Post by bigrex on Thu 06 Oct 2016, 21:10

Yes, you will receive a form that will let you decide whether you want it as a lump sum, or over a period of time. I'm not sure if there is an option to take a partial lump sum up front or not. But I know if you take it over X number of years, you can change your mind later and get the remainder paid out. This should also increase your top up next year by several thousand dollars.
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Disability Award, Choice of Lump Sum, Monthly Payments or a Combination of Both

Post by Bruce72 on Thu 06 Oct 2016, 20:50

I was awarded an additional 15% on a reassessment,  and haven't had the opportunity to see the paperwork yet.  I'm currently on vacation.

Can anyone tell me do I have to sign something to decide on payment type and return it to VAC or can I call them and tell them my choice?

When I received my original award in 2009 we didn't have a choice of payment type if I remember correctly.

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Re: Disability Award, Choice of Lump Sum, Monthly Payments or a Combination of Both

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