income safety netincome safety net

income safety net

“income safety net” means the pension income protection provided by sections 115C, 115D and 115F of the Act whereby:

(a) while a veteran is undertaking an approved program, the rate of pension payable to the veteran is not to be less than the rate the veteran would receive if the veteran were not undertaking an approved program; and

Note: section 115C of the Act provides this protection.

(b) after a veteran has completed an approved program under Chapter 2, if the veteran is, for any reason, unemployed for a continuous period of at least two weeks, the pension reduction amount for each pension payday is reduced to nil so that pension is to be restored to the veteran’s pension rate at the commencement of an approved program; and

Note: subsection 115D(4) of the Act provides this protection.

(c) if the sum of the veteran’s salary, wages or earnings per fortnight from remunerative work and the fortnightly rate of pension would be less than the rate of pension that the veteran would have received if the veteran had not undertaken the approved program, the pension reduction amount can, upon application to the Commission under Section 115E of the Act, be reduced;

Note: section 115F of the Act provides this protection.