Is the Government set to offer lifetime pensions in federal budget?

The government is set to commit in Wednesday’s federal budget to offer disabled veterans the option of a lifetime pension by the end of the year, according to the Canadian Press.

This move coincides with the Liberal party’s promise in the 2015 election to bring back the life pensions for injured veterans.

Lifetime pensions were once offered to ill and injured veterans, but that system was replaced with the New Veterans Charter in 2006, which offered a lump-sum payout.

Many veterans and veterans’ advocates have grave concerns with the lump-sum payment system, believing that the lump-sum offers less money compared to a lifelong pension.

In the last year, the Liberal government has taken measures to increase financial benefits to veterans including increasing the lump-sum payment from $310,000 to $360,000.

However, many veterans are still waiting for the government to make good on its promise to bring back the lifetime pension.

“There’s a lot of things left on (Veterans Affairs Minister Kent Hehr’s) mandate letter that we’re waiting for.

“I think probably in the minds of most veterans it is: What is going to be done about lifelong pensions? I think that’s number 1 on most of their lists,” said Deanna Fimrite, dominion secretary-treasurer of Army, Navy, Air Force Veterans in Canada, to the Canadian Press.

There are currently no specific details on how the changes will work.