What is Permanent Impairment funding and how do I get advice for it?

Here at Evergreen, we are conscious that deciding what to do with your Permanent Impairment compensation payment can be challenging, especially when you aren’t sure where to start.  

The choice between a lump sum or weekly amount can mean a multitude of things for your financial security, which is why DVA offers funding for veterans to get advice prior to accepting their offer. 

What is a Permanent Impairment (PI) offer? 

​If you have experienced an injury or condition that is assessed as being caused by your Australian Defence Force (ADF) service, you may be eligible for compensation. These impairments can relate to your physical or mental health and are assessed by the Department of Veteran Affairs (DVA) on a point scale.  

If you are under the Military Rehabilitation & Compensation Act 2004 (MRCA) scheme and assessed at over 50 points you may be eligible for a PI offer.  

For more information on eligibility, access the DVA website.  ​

How do I choose between offer types? 

​This is where we come in.  

Once you have received your PI offer you will be issued with a determination letter which outlines how much you are entitled to. You will be asked if you’d like to accept your compensation in a lump sum or on a weekly basis.  Our advisers will be able to give you advice on: 

• The taxation treatment of the benefits being offered;  
• How the offer will impact your lifestyle moving forward;  
• The effect of your choice on income support payments such as Centrelink or service pensions; and 
• Impacts of dependants on your payment.  

A couple receiving financial advice

Do I have to see an adviser in order to accept payment? 

​It is strongly recommended that you seek legal or financial advice prior to the acceptance of your offer. We specialise in making sure that the acceptance of your offer avoids triggering adverse changes to your lifestyle or financial situation.  

How do I get funding to see a financial adviser? 

As a part of your offer, you may be entitled to compensation to see an adviser. This will depend on the scheme you are under and how many points you have received. To utilise this payment, we require: 

• The offer to be under MRCA.  
• The first few pages of your PI offer (with delegate's email address visible); and 
• That the PI offer is not claimed until after your appointment with us.  

Once we’ve received a copy of your offer and you’ve had your appointment, we will invoice DVA on your behalf.  

This amount is generally enough to cover a few appointments with your adviser, and possibly more detailed work including superannuation or insurances. Your adviser can discuss this further with you during your appointment.  

What next?

If you'd like to book an appointment to discuss your offer we have two advisers who specialise in DVA and veteran related affairs. You can meet our advisers below:

Book Here

Yannick Fitzsimmons

Yannick has recently completed his degree in financial planning and passed the national financial adviser exam. Under the mentorship of Roshan he continues to grow his knowledge and skills in all aspects of financial advice. Before his financial planning journey, Yannick served in the Australian Army and has worked in the building, underground coal mining and Defence contracting services industries. 

07 4766 9688

Roshan Pandalai

Roshan assists clients to make informed choices about their future. Roshan established Evergreen Financial Advisers in 2017 to help his clients realise their goals. Before finding the world of financial advice, Roshan studied Mechanical Engineering and served in the Australian Army. He is a proud father of 3 (including the dog), who enjoys spending time outdoors.