I would add that if the lump sum is meant to be invested to give a guaranteed income over a year, it doesn't work. I look at my own RSP portfolio, which took a big hit. It's not big because I had no money. Therefore, if I were depending on it to live and hoping to earn 4% to 5% per annum, it wouldn't exist. So it is not income replacement. It is neither fish nor fowl.
If we have other adaptation processes, that's good, and we need a monthly income that we take the liability for as a country.