I may add that to mitigate someone receiving a lump sum amount and spending this amount, VAC offers $500 for counselling. This is something that members should be taking advantage of. I'm not sure that most members receiving this award will take the $500 and seek financial counselling or financial planning to determine the best way to handle a large lump sum amount. At SISIP, I can tell you, we have teams in place with financial planners or financial counsellors who could provide this advice to veterans who receive lump sum amounts.
On March 23rd, 2010. See this statement in context.