The cost differential between three regimes of Veterans Benefits

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The cost differential between three regimes of Veterans Benefits Empty The cost differential between three regimes of Veterans Benefits

Post by Masefield on Thu 21 Feb 2019, 2:01 pm

21 February 2019

Posted by: Yves Giroux, Caroline Nicol

Get the report https://www.pbo-dpb.gc.ca/web/default/files/Documents/Reports/2019/Veterans%20Benefits/Veterans_Benefits_EN.pdf


Summary
Several parliamentarians requested that the Parliamentary Budget Officer (PBO) prepare an estimate of the fiscal cost of each of these regimes over the medium term.

Using data from Veterans Affairs Canada, PBO estimated the overall fiscal costs to the government on a net present value (NPV) basis for the existing cohort of beneficiaries and for projected new beneficiaries during the period 2019-2023.

PBO found that the Pension Act regime is the most generous for the veterans and the most expensive for the federal government. The Pension for Life regime is slightly more generous than the
Veterans Well-being Act regime.

The cost differential between three regimes of Veterans Benefits Vet%20benefits%20Fig%203.1%20EN

Most, but not all, veterans will be financially better off under the new Pension for Life regime compared to the existing Veterans Well-being Act.

While all current recipients of disability benefits will receive an equal or greater amount with the new regime, PBO estimates that about 5 per cent of future recipients would have been better off under the Veterans Well-being Act. Moreover, 3 per cent of new entrants would be greatly disadvantaged under Pension for Life as they would, on average, have received around $300 thousand more in financial support from the existing regime.

This is in part related to the elimination of the Career Impact Allowance Supplement (CIAS), which is offered to veterans with severe and permanent impairment and diminished earning capacities.







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The cost differential between three regimes of Veterans Benefits Empty Re: The cost differential between three regimes of Veterans Benefits

Post by Wilson on Tue 12 Mar 2019, 11:29 am

Parliamentary Budget Officer (PBO) Reports on Different Veterans’ Pension Regimes

by John Leech | Mar 11, 2019

The cost differential between three regimes of Veterans Benefits Jimmy-e1529430533141.jpeg?zoom=1

PBO was requested to prepare a cost estimate of veteran’s benefits under the three different regimes that have existed: the Pension Act, the Veterans Well-being Act and Pension for Life. The results are described in a recent article by Lee Berthiaume which will be of interest to our veteran members.

https://nationalpost.com/pmn/news-pmn/canada-news-pmn/some-disabled-veterans-to-get-less-cash-under-liberal-plan-budget-watchdog

https://cmcen-rcmce.ca/parliamentary-budget-officer-pbo-reports-on-different-veterans-pension-regimes/?fbclid=IwAR2nOk0HmFpi8iDAiB0kAQ1EXtlc0fSU7OM6kXwp4U4xbZIOj35I3D7yuZs



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