Disabled veteran pension increases
Around 30,000 war veterans on some disability pensions will receive a payment increase from Thursday, 19 July.
The fortnightly pension payments to Special (Totally and permanently Incapacitated – TPI) Rate pensioners will increase by $50 and the payment to Intermediate Rate pensioners will rise by $25.
These pension rates are to be indexed in the same way as other pensions that are linked to increases in Male Total Average Weekly Earnings (MTAWE) and the Consumer Price Index (CPI), to ensure the value is preserved and
maintained.
A veteran on the Special Rate disability pension will now receive $919.40 per fortnight in recognition of the economic loss resulting from an inability to work due to service-related impairments and for the pain and suffering caused by these injuries and illnesses.
Nearly 80% of Special Rate veterans also receive up to $525.10 per fortnight in income support as a Service Pension, resulting in payments totaling $1,444.50 per fortnight. The Special Rate pension is neither means tested, nor taxable, and is payable for life.
Indexation that is based on both MTAWE and CPI applies to all except $318.70 of these fortnightly payments. The $318.70 is the pain and suffering component of the Special Rate pension, which is indexed against CPI only to maintain its value. This is consistent with similar injury compensation arrangements.
