Veterans' Entitlements Act 1986
Section 79B (eligibility)
Sections 79C to 79G (applications)
Sections 79I to 79J (determination)
Section 79K (maximum amount of advance)
To provide pensioners with greater choice in how they meet unexpected needs for additional cash.
A person may be eligible for a lump sum advance of pension if he or she is receiving:
To be eligible for a lump sum advance, a person must:
A person is not eligible for a lump sum advance if the person:
The maximum amount that can be advanced as a lump sum is equal to three weeks of the maximum pension rate less the minimum pension supplement amount.
Pensioners can apply for multiple advances in a given year as long as the total does not exceed 1.5 times (three weeks) their fortnightly pension.
Lump sum advance of service pension was introduced on 4 July 1996.
Lump sum advance of pension was extended to Disability Compensation Payment recipients from 1 January 1998.
The purpose and intent of this benefit have not changed.
1998 | Lump sum advance of pension was extended to Disability Compensation Payment recipients. |
2010 | Multiple advances allowed with maximum advance limited to 1.5 times the fortnightly rate of pension and the minimum advance set at 0.5 times the pension rate. |
Links
[1] https://clik.dva.gov.au/user/login?destination=comment/reply/24048%23comment-form