This initiative invests $97.9 million over the forward estimates to provide an increase to the fortnightly Special Rate payments under the Veterans’ Entitlements Act 1986 (VEA) and the Military Rehabilitation and Compensation Act 2004 MRCA) from 1 January 2023. This implements the Government’s election commitment.
Why is this important?
Eligible veterans will receive an increase to their fortnightly payment of $38.46 per fortnight.
From 1 January 2023 the Special Rate will be $1,617.16 (including the Energy Supplement) per fortnight.
This will: Ensure the Australian Government continues to support TPI veterans and families with appropriate and fair compensation
Help TPI veterans with cost of living pressures
Provide additional financial support to TPI veterans and their families in addition to the regular indexation increases each March and September.
The Government recognises the sacrifices made by serving and ex-serving ADF members and is committed to ensuring that veterans who are severely impacted by their experience in the ADF are supported with appropriate compensation.
Who will benefit?
Around 27,000 veterans receiving either the TPI Payment, Temporarily Totally Incapacitated (TTI) Payment and Blind rate of Disability Compensation Payment under the VEA or the Special Rate Disability Pension (SRDP) under the MRCA.
Date of effect?
1 January 2023.