This section outlines Commission [2] policy on payment of pension instalments by the direct credit method.
According to Section 179 [3]of the VEA [3], the Commission is a body corporate under the name of Repatriation Commission.
Payment of pension instalments by direct credit involves the electronic transfer of funds from DVA's drawing account, via the Reserve Bank, directly into an account with a bank, building society or credit union, specified by a pensioner.
Commission [2]'s policy is to direct pensioners to receive their payments by direct credit.
In comparison with other forms of payment, direct credit is:
An exemption from receiving payment by direct credit can be granted in exceptional circumstances where the person receiving payment is genuinely disadvantaged by direct credit. Temporary exemption from direct credit may also be granted at the Commission's discretion.
More ? [6]
According to Section 179 [3]of the VEA [3], the Commission is a body corporate under the name of Repatriation Commission.
The VEA [2] gives Commission [2] the authority to:
The Commission has the:
Veterans' Entitlements Act 1986.
According to Section 179 [3]of the VEA [3], the Commission is a body corporate under the name of Repatriation Commission.
Last amended: 29 July 2010
Payment can be made to any Australian transaction account, held at any financial institution, provided the account has:
Payments cannot be made to debit accounts such as credit cards, and fixed term investments such as term deposits.
Generally, the account into which direct credit payments are to be made must be an account that is nominated and maintained by the person to whom the pension is payable. In order to ensure that the payment is being made to the pensioner, ideally the account title should match the current pensioner name as recorded on VIEW. However, payments can still be made to the account if a link can be established between the payee name and a historical name recorded in notes on VIEW.
Where appropriate, a file note should be added that differences in the payee name and the pensioner name have been investigated and a link exists between the two names.
The account into which direct credit payments are to be made can also be a joint account maintained by the pensioner jointly (or in common) with someone else.
A family trust bank account can be the destination for pension payments provided that the veteran's control of the trust satisfies the maintenance test as in section 58F [7] of the VEA.
Where a pensioner's payments are being made to an agent [2], the direct credit may be made into an account operated by the agent if this is requested by the pensioner. The payment may be made to an account held solely in the agent's name, or to a joint account held by the pensioner and agent.
More ? [20]
Where a pensioner's payments are being made to a trustee [2], the direct credit may be made into an account operated by the trustee if required.
More ? [21]
According to section 58D of the VEA, an agent is a person who has been nominated by a pensioner and approved by the Commission to receive pension instalments on behalf of the pensioner. The agent must:
Trustee has two meanings depending on the context, (i) and (ii).
(i) a person who looks after someone else's affairs
According to section 202 of the VEA [3], a trustee is a person appointed by the Commission to administer the financial affairs of a pensioner who may be incapable of managing their own affairs for reasons such as:
These criteria include circumstances where a pensioner has a psychiatric disorder or a mental illness as a result of alcohol or drug addiction.
A trustee can be appointed, with or without the consent of the pensioner and once appointed, a trustee has full control of the pension payment.
(ii) a person responsible for administration of a trust
According to section 52ZO of the VEA [3], trustee has the same meaning as in the Income Tax Assessment Act 1997 [29].
Last amended: 10 September 2009
VEA ? [31]
Where a person is eligible for Seniors Supplement but has not provided bank account details within 28 days of it being requested (or if the Commission allows it, a longer period) Seniors Supplement ceases to be payable. If the person then provides bank account details, Seniors Supplement becomes payable again on the day that the details are provided.
Links
[1] https://clik.dva.gov.au/user/login?destination=node/16922%23comment-form
[2] https://clik.dva.gov.au/%23
[3] http://clik.dva.gov.au/legislation-library
[4] https://clik.dva.gov.au/user/login?destination=node/16960%23comment-form
[5] https://clik.dva.gov.au/book/export/html/16922#tgt-cspol_part11_ftn139
[6] https://clik.dva.gov.au/book/export/html/16922#tgt-cspol_part11_ftn140
[7] https://clik.dva.gov.au/service-eligibility-assistant-updates/all-determinations-order-date-signed-oldest-most-recent/determinations-under-vea
[8] https://clik.dva.gov.au/book/export/html/16922#ref-cspol_part11_ftn139
[9] https://clik.dva.gov.au/compensation-and-support-policy-library/part-11-administration-payments/115-manner-payment/1153-exemptions-payment-direct-credit
[10] https://clik.dva.gov.au/book/export/html/16922#ref-cspol_part11_ftn140
[11] https://clik.dva.gov.au/user/login?destination=node/16931%23comment-form
[12] https://clik.dva.gov.au/book/export/html/16922#tgt-cspol_part11_ftn141
[13] https://clik.dva.gov.au/book/export/html/16922#tgt-cspol_part11_ftn142
[14] https://clik.dva.gov.au/book/export/html/16922#ref-cspol_part11_ftn141
[15] https://clik.dva.gov.au/book/export/html/16922#ref-cspol_part11_ftn142
[16] https://clik.dva.gov.au/user/login?destination=node/16929%23comment-form
[17] https://clik.dva.gov.au/book/export/html/16922#tgt-cspol_part11_ftn143
[18] https://clik.dva.gov.au/book/export/html/16922#tgt-cspol_part11_ftn144
[19] https://clik.dva.gov.au/book/export/html/16922#tgt-cspol_part11_ftn145
[20] https://clik.dva.gov.au/book/export/html/16922#tgt-cspol_part11_ftn146
[21] https://clik.dva.gov.au/book/export/html/16922#tgt-cspol_part11_ftn147
[22] https://clik.dva.gov.au/book/export/html/16922#ref-cspol_part11_ftn143
[23] https://clik.dva.gov.au/book/export/html/16922#ref-cspol_part11_ftn144
[24] https://clik.dva.gov.au/book/export/html/16922#ref-cspol_part11_ftn145
[25] https://clik.dva.gov.au/compensation-and-support-policy-library/part-11-administration-payments/113-agents-and-trustees/1132-agents/payments-agents
[26] https://clik.dva.gov.au/book/export/html/16922#ref-cspol_part11_ftn146
[27] https://clik.dva.gov.au/compensation-and-support-policy-library/part-11-administration-payments/113-agents-and-trustees/1133-trustees/payments-trustees
[28] https://clik.dva.gov.au/book/export/html/16922#ref-cspol_part11_ftn147
[29] http://www.comlaw.gov.au/comlaw/management.nsf/lookupindexpagesbyid/IP200401745?OpenDocument
[30] https://clik.dva.gov.au/user/login?destination=node/16909%23comment-form
[31] https://clik.dva.gov.au/book/export/html/16922#tgt-cspol_part11_ftn148
[32] https://clik.dva.gov.au/book/export/html/16922#ref-cspol_part11_ftn148