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9.4 Indexation of Initial Fortnightly Equivalents

Advice from the Australian Government Actuary following a review of compensation arrangements after the Black Hawk disaster, indicated that the Department had not been applying the AGA instructions correctly.  DVA had not been adjusting the offset amounts in line with inflation.  A budget initiative to index offset amounts by CPI at the same time as disability pensions are increased was introduced in 1997 to correct this.  Commencing from pension payday 24 September 1998 fortnightly equivalents of lump sum payments have been automatically adjusted.  When calculating overpaid disability pension, indexation of initial fortnightly equivalent's can not occur before 24 September 1998.

The Department of Veterans' Affairs.