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Have you been offered or already receiving a Special Rate Disability Pension from the Department of Veterans Affairs (DVA)? Whether you are wholly familiar with this type of compensation or need some guidance as to its financial implications and best use, the team at National Service Financial can help. As specialists in all forms of DVA payments as well as DHOAS loans, ADF transition and more, we’re the team you can trust to support you achieve financial stability post-medical discharge. What Is Special Rate Disability Pension? Special Rate Disability Payment or SRDP is a periodic payment made to Veterans instead of Incapacity Payments. The payment is intended to ease the economic loss experienced by former ADF members who can no longer work in a normal capacity due to illness or injury acquired during their time in service. Unlike Incapacity Payments, this payment is tax-free and can continue indefinitely so long as eligibility criteria are still being met. Who Can Apply For This Payment? There are several determining factors surrounding who can apply and be approved for a Special Rate Disability Pension. As per the DVA, you can apply for this payment if you: • Have had your injury or disease assessed at 50 or more impairment points and the impairment is unlikely to resolve in future. • Are already receiving incapacity payments or have had them cease due to a lump sum payment agreement or commonwealth superannuation offsetting. • Have been assessed as being unable to work a minimum of 10 hours per week and rehabilitation has been deemed ineffective in increasing your work capacity. Why Seek Qualified Financial Advice? The decision to accept an SRDP payment over incapacity payments is not one to be made lightly. Accepting a Special Rate Disability Pension can mean you are no longer eligible to receive other support payments including pensions, Family Tax Benefit, Child Support and more. Once you accept the DVA’s offer of an SRDP, the decision cannot be overturned. Therefore, the DVA requires Veterans to seek out qualified financial advice before making their decision. To make this easier to achieve, they also offer a subsidy towards these services. It is essential you speak with an expert and ensure that your current lifestyle can be maintained, and future financial goals met. At National Service Financial we specialize in educating our clients about their DVA payments and how to best use these to secure their financial future. This makes us the ideal choice for financial advice as a Veteran, former or active ADF member. National Service Financial - We’re Here To Serve You Owned and operated by a former ADF member, National Service Financial offers unique insights and a genuine understanding of your situation. We take a holistic approach to your finances and seek out the optimal solutions for not only securing your finances but helping them to grow. Do away with the unnecessary stress and worry that comes with such a significant shift in your finances and let us help you create the future you deserve. Contact the team at National Service Financial today on 1300 580 802.