There is a specific exception in s30C(3) of the VEA for a lump sum payment made under section 30 of the SRCA.* These lump sum payments are made when the weekly amount of incapacity payment payable falls below a nominated amount and the person's degree of incapacity is unlikely to change. Under this section, a lump sum is calculated of fortnightly payments that otherwise would have ceased when the person attained Age Pension Age [2]. A growth factor of 3 per cent is included in this calculation. In such cases offsetting ceases at Age Pension Age [2] and a review must be set to lift the offset amount from when the person attains Age Pension Age [2].
*Note: The relevant section of the VEA (30C) refers to age 65, whereas section 30 of SRCA refers to Age Pension age [2]. This apparent anomaly is currently under review.
Age Pension Age refers to pension age [2] as defined under the Social Security Act 1991, that is, pension age for people other than veterans.
Age Pension Age refers to pension age [2] as defined under the Social Security Act 1991, that is, pension age for people other than veterans.
Age Pension Age refers to pension age [2] as defined under the Social Security Act 1991, that is, pension age for people other than veterans.
Age Pension Age refers to pension age [2] as defined under the Social Security Act 1991, that is, pension age for people other than veterans.
Links
[1] https://clik.dva.gov.au/user/login?destination=comment/reply/24439%23comment-form
[2] https://clik.dva.gov.au/%23