Increase to Earnings Loss Benefit
Veterans Affairs Canada
| October 01, 2016
Effective October 1, 2016, Veterans Affairs Canada (VAC) increased the Earnings Loss Benefit (ELB) calculation to ensure your total income will be at least 90% of your gross pre-release military salary.
To ensure that the benefit is always keeping pace with inflation, annual increases for recipients will no longer be limited by a maximum increase of 2%.
Financial Support for Veterans
2016 Federal Budget
| March 22, 2016
Budget 2016 therefore proposes significant enhancements to financial benefits for modern-day veterans. The proposed investment includes:
Increasing the Earnings Loss Benefit to provide income replacement of 90% of gross pre-release military salary for injured veterans participating in Veterans Affairs Canada's rehabilitation or vocational assistance program or with injuries preventing them from suitable and gainful employment.
The indexation of this benefit would also no longer be capped at 2% and would be allowed to keep pace with inflation.