No, to be eligible for the Invalidity Service Pension you need to meet certain criteria including having Qualifying Service and also be deemed to be Permanently Incapacitated for work.
Former members who are eligible for SRDP are also taken to satisfy the permanent incapacity for work eligibility criterion for invalidity service pension.
The Invalidity Service Pension is subject to an income and assets test.
The Invalidity Service Pension is Income and Assets Tested and the MSBS Invalidity Pension counts towards the income test. There is a different treatment however whether you are in receipt of Incapacity Payments or SRDP.
Advisers who are listed on the ADF Financial Advice Referral Program have made a range of written declarations to the Department of Defence including that, in connection with the Program:
- They will at no times be under the direct or indirect influence of a financial product manufacturer; and
- The only means by which they will receive remuneration from the provision of financial advice to ADF members and their families is through the charging of genuine fees for service and will not charge or receive commissions, trailing commissions, asset-based fees for service, bonuses (of whatever description) and any other form of remuneration as defined by law or that could reasonably give rise to a conflict between the adviser’s interests and the interests of the adviser’s clients.
In all decisions and determinations DVA related it is important to remember that your decisions will have lifetime implications and the legislation is complex.
It is very important that when you are faced with making a decision around your DVA entitlements, you seek advice from a Licensed Financial Adviser. This is why the DVA provides funds for this to occur and require it prior to many form lodgements.
We are a listed adviser to the ADF Financial Services Consumer Centre linked here.
We offer a complimentary and obligation-free 10 minute phone discussion to explore likely advice needs prior to committing to an initial appointment. Information discussed will be general advice only.
