Federal Government Announces Increased Support for Canadian Veterans and Reservists

March 13, 2015

 

Federal Government Announces Increased Support for Canadian Veterans and Reservists

 

Ottawa, ON – Recently, the Honourable Erin O’Toole, Minister of Veterans Affairs, announced two new measures to ensure that injured Canadian Veterans as well as part-time Reserve-Force Veterans have the support they need. These measures relate to a substantial increase in the Earnings Loss (EL) Benefit as well as the creation of the new Retirement Income Security Benefit.

 

The first new measure relates to an increase in the amount that part-time Reserve Force Veterans will be eligible for through Veterans Affairs Canada’s (VAC) Earnings Loss Benefit. This program provides support for Veterans with service-related injuries while they are participating in VAC’s Rehabilitation Program or who are unable to be suitably employed. Currently, part-time Reserve Force Veterans are eligible for an annual EL benefit of $24,300. Effective in April 2015, this amount will be increased to a minimum annual income of $42,426. This will bring the EL benefit for Reserve Force Veterans in line with the current EL benefit for a basic corporal in the Regular Force.

 

The second new measure relates to a proposed new financial benefit aimed at providing financial stability to Veterans who are moderately to severely disabled as well as their families. Currently, the Earnings Loss Benefit is not available after the age of 65. The newly proposed Retirement Income Security Benefit would provide these Veterans with continued assistance in the form of a monthly income support payment which would begin at age 65. This would offset the loss in income due to ineligibility for the Earnings Loss Benefit. This benefit would support eligible Veterans for the remainder of their lives and would also be extended to families through continued payment of a monthly benefit to the Veteran’s survivor.

 

“I am very pleased to see that the Government is taking action to support Reserve Force Veterans and all Veterans who have been injured in the line of duty,” said Larry Miller, MP for Bruce-Grey-Owen Sound. “The increase in the Earnings Loss Benefit for Reserve Force Veterans and the proposed Retirement Income Security Benefit will ensure that all Canadian Veterans have the support they need and most certainly deserve.”

 

Both of these measures are in direct response to concerns raised by both the Veterans Ombudsman and the House of Commons Standing Committee on Veterans Affairs.

 

For more information please visit; http://www.veterans.gc.ca/eng.

 

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