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Military Retired (20yrs) and VA Disability Lump Sum?
I retired from the Navy 3 years ago after 20 years of active duty service. I receive 10% disability from the VA at $123 a month which is then subtracted from my retirement pay.
I work with many former military members who did not retire, but were medically discharged. Some have told me that they were given the option of a lump sum for their VA disability if they were at 10 or 20%. I was never given this option. Is it too late for me to ask for it? Am I eligible since I retired and not just separated?
The way I figure it, since they subtract it from my retirement pay already, wouldnt I just get my full retirement pay and the VA lump sum also?
I heard it was based on your monthly VA benefit times 12, times the number of years of your life expectancy, divided by 2. Is this correct? If so, what is the life expectancy calculated by?
Thanks
2 Answers
- Dennis FLv 71 decade agoFavorite Answer
You are confusing a couple different things.
If the were separated before retirement, they received a Severance Pay from the Military.
They are not eligible to receive VA benefits until their benefits exceed the amount of their Severance package.
It may seem like a lump sum payment, It is not!!.
Once their earned benefits exceed their lump sum they will begin receiving a monthly check from the VA.
Currently to receive concurrent receipt of Disability and retired pay, you must have 20 years and more than 50% Disability rating.
Edit: The PO below is WRONG, here is link to show that you are looking for.
Source(s): Retired AF SNCO. - oneiloilokanoLv 71 decade ago
Your misinformed !
You can collect your Retirement pay AND your Disability pay with NO deduction from your Retirement pay. You are entitled to BOTH by law and you CAN collect both !
The VA does not give lump sums or retroactive claims anymore. You get your VA compensation from the date it was awarded, not the date the claim was filed like before.
Source(s): USN CPO Retired. www.va.gov
