Eligible Young Person (EYP) Payment:
What is it and could your family be eligible?
If you’ve recently received a Permanent Impairment (PI) determination from DVA, you may have seen people talking about the Eligible Young Person (EYP) payment.
For many veterans, it’s a payment they’ve never heard of until someone mentions it in a Facebook group.
So what is it?
If you’re assessed as having 80 or more compensated impairment points under the MRCA, DVA may pay an additional lump sum for each child who meets the definition of an Eligible Young Person.
This payment recognises that severe service-related impairment can have a significant impact on families, not just the veteran.
Who is an Eligible Young Person?
Generally, an Eligible Young Person is a child who is financially dependent on you and is:
- under 16 years of age, or
- aged between 16 and 24 and studying full-time (while meeting the relevant legislative requirements).
This can include biological children, adopted children and, in some circumstances, stepchildren if they meet the dependency requirements.
Do they have to live in Australia?
Not necessarily.
Living overseas does not automatically mean your child isn’t eligible. The key questions are whether they meet the legislative definition of an Eligible Young Person and are considered your dependant at the relevant date.
Every family’s circumstances are different, so if you’re unsure, it’s worth asking DVA or seeking advice.
Do I need to apply?
In many cases, yes.
DVA may require supporting documents such as birth certificates, evidence of full-time education (if applicable), or information confirming dependency.
If you think you may be eligible but haven’t heard anything about the payment, it’s worth contacting DVA to check.
The biggest mistake that we regularly see
Many veterans focus solely on their Permanent Impairment payment and don’t realise there may be additional entitlements available for their family.
Taking a few minutes to understand what’s available can make a meaningful difference.
Need help understanding your Permanent Impairment offer?
If you’ve recently received a Permanent Impairment determination and you’re unsure what it means for you or your family, we’re happy to help you understand your options before you make any financial decisions.
Questions that every Veteran should ask any financial adviser
Before engaging any financial adviser, it’s worth asking:
- How are you paid?
- Do you receive commissions from any products you recommend?
- Are there any ongoing commissions or referral payments?
- Will you explain every fee before I decide whether to proceed?
- If I choose not to implement your recommendations, how are you paid?
These aren’t uncomfortable questions.
They’re important questions.
A good financial adviser should be happy to answer them openly and clearly.
Need personal advice?
Every veteran’s circumstances are unique.
Whether you’re still weighing up your Permanent Impairment options or you’re ready to explore how your compensation fits into your broader financial future, we’d be honoured to help.
Our role isn’t to tell you what to do.
It’s to help you understand your options, so you can make decisions with confidence and move forward with a clear plan.
General information
The information on this page is general in nature and has been prepared without taking your personal objectives, financial situation or needs into account. Financial decisions relating to SRDP should always be considered in light of your individual circumstances and, where appropriate, after obtaining personal financial advice.