Mr. Speaker, I would like to thank my colleague for her question and for serving our country. I sincerely thank her for all that she did when she was a member of the Canadian Armed Forces.
This government takes our commitment to the members and veterans of the Canadian Armed Forces seriously. We have invested significantly in programs and benefits to support Canadian Armed Forces members and veterans and their families since October 2015.
In December, the Minister of Veterans Affairs and I announced a new package, the pension for life, to compensate Canadian Armed Forces members and veterans for service-related pain and suffering. It replaces the disability award with a monthly benefit, adds a new additional monthly benefit payment for pain and suffering, and consolidates several existing financial benefits into one. This streamlined package will enhance Canadian Armed Forces members' and veterans' well-being and will empower them to better manage their transition to post-military life.
I would like to summarize this new plan for the benefit of the House. First, the pension for life gives back the option of a monthly benefit payable for life in recognition of and in compensation for the pain and suffering associated with a service-related injury or illness. This benefit will replace the disability award and will be called pain and suffering compensation.
Soldiers and veterans will be eligible for a tax-free monthly benefit of up to $1,150, or they can combine those monthly payments into one lump sum. Our soldiers and veterans will be able to choose the option that works best for them and their families.
The additional pain and suffering compensation is a further monthly, tax-free payment for veterans that recognizes the struggles they go through in trying to re-establish themselves in post-military life following service-related severe and permanent impairment.
The income replacement benefit supports veterans who experience barriers to re-establishing themselves after service as a result of a health problem resulting primarily from service. It consolidates six financial benefits into one, providing up to 90% of a veteran's military salary at the time of release.
The pension for life package is an integral part of the veterans' well-being initiatives this government has introduced. They include the caregiver recognition benefit, the veteran emergency fund, the veteran and family well-being fund, removal of the time limits on vocational rehabilitation, the veterans' education and training benefit, and expanded access to military family resource centres across Canada. All of these come into effect in less than two weeks. This government is also investing in a centre of excellence on PTSD and related mental health conditions.
This holistic approach empowers veterans and their families to make the choices that make sense for them, streamlines the delivery of service, helps to enhance veterans' well-being, and helps them transition successfully to life after service.
When it comes to our veterans, we can never be fast enough. We know that this is going to take time. We just spent 22 hours voting in the House on a budget bill. Unfortunately, it will take time to do this right, and therefore, we are looking forward to putting the pension for life in place on April 1, 2019.