Veterans Affairs Canada Audit of Earnings Loss - May 2013

The Earnings Loss benefit is one of the supports available through Veterans Affairs Canada’s Financial Benefits Program. Earnings Loss is payable in recognition of the economic impact a military career-ending or service-related disability may have on the Veteran’s ability to earn income following release from the Canadian Armed Forces. This income replacement ensures that the eligible Veteran's income does not fall below 75% of their gross pre-release military salary. The guaranteed minimum rate for fiscal year 2012-2013 was $41,598. This guaranteed minimum rate is adjusted based on increases to the basic corporal’s salary.

The purpose of the audit was to provide assurance that the program and financial controls were working as intended to deliver results in accordance with related authorities. In addition, the Earnings Loss benefit has not been subject to an audit since the inception of the Canadian Forces Members and Veterans Re-establishment and Compensation Act in 2005.