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3.3.3 Compensation Affected Pension Payability

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Compensation to be claimed

    

VEA ?

Compensation to be claimed

Section 59M VEA

Section 59P VEA

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Compensation affected pensions may not be payable if the person or their partner fail to take reasonable action to claim, or obtain the compensation to which they may be entitled.    

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Compensation Recovery

Chapter 9.11

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Compensation in the form of a lump sum

    

VEA ?

Section 59Q VEA

Determining lump sum preclusion period

Section 59Q VEA

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If a person receives compensation in the form of a lump sum, a compensation affected pension is not payable to the person for the lump sum preclusion period[glossary:.:] If the person is a member of a couple and that person, or their partner, received the compensation before 20 March 1997, a compensation affected pension is not payable to the person or their partner for the lump sum preclusion period.     

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Compensation Recovery

Chapter 9.11

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A payment to make amends for loss or injury to a person or property, or as a recompense for some deprivation (such as compensation to the owner for compulsory acquisition of their property).

According to subsection 5NB(1) of the VEA a compensation affected pension means:

  •       an invalidity service pension payable to a person who has not reached pension age; or
  •       a partner service pension payable to a person who has not reached pension age; or
  •       an income support supplement payable to a person who has not reached qualifying age.

 

 

The lump sum preclusion period is the amount of time that a person or their partner is ineligible to receive the pension after receiving compensation in the form of a lump sum. Refer to Subsections 59Q(3) to 59Q(8) of the VEA to determine the lump sum preclusion period