Severely disabled vets take financial hit
Sep 29, 2013 / 1:39 pm
Canada's veterans ombudsman has concluded some of the country's most severely disabled soldiers will take a major financial hit once they turn 65 and risk living out their final years in near-poverty.
A painstaking actuarial analysis by Guy Parent's office is due to be released on Tuesday, but has been obtained by The Canadian Press.
The study compares the old system of compensating veterans under the Pension Act with the New Veterans Charter, marquee legislation championed by the Harper government since it was enacted in 2006.
It shows that roughly 406 "totally and permanently" incapacitated modern veterans will be left out in the cold because they don't receive certain allowances — or a Canadian Forces pension.
The report was four years in the making.
It shows families of veterans who've passed away also take an old age hit because "the cash flow going to survivors ceases when the veteran reaches the age of 65," whereas it continued under the previous pension system.
Compensation for pain-and-suffering awards was also found to be lacking.
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