Elect Lump Sum

Thanks Ppclicaper. I called and requested. They said 3-5 business days in myvacaccount, so that’s a positive sign. Thanks for your response, much appreciated.

Gunner

I called and requested a form be sent , it arrived in myvac account within 3 weeks . ( they state it can be upwards of 6 weeks ) .

VAC2521

Thanks ppclicaper. Do I have to request a letter for the option of lump sum, or do they send that automatically?

All together it was approximately 5-6 weeks from the time I received approval on myvac account .
To the day the lumpsum was deposited into my account .

Approximately 3 weeks I received the form via myvac to request lump sum. Than within 3 weeks the funds were deposited in my account .

I received 1 payment under the monthly .. by the next month I had already received the lump sum.

That was my timeframe , I received lump sum in October 2020 .

I hope this helped you .. and if the time frame is consistent , your situation should be similar. Good luck

How long did it take you to get the letter and then the lump sum when selected?

Elected lump sum also ; at this point in time it is up to 6 weeks to recieve the form via Myvac and 6 week processing from date form is recieved .

oldsailor wrote:Can anyone tell me how the lump sum is calculated. Also is there any requirement/timing or can you do it anytime.  Thank you

Here is the link to the rates.

https://www.veterans.gc.ca/eng/resources/rates#psc

I’m pretty sure if you decide on a lump sum at a later date, it is the lump sum amount effective on your award date, less any payments already made.

Can anyone tell me how the lump sum is calculated. Also is there any requirement/timing or can you do it anytime. Thank you

Pre Covid usually 3-5 business days.

Covid now??? Depends on the staffing at VAC accounting department could take a little longer.

Just summited form online to elect pain and suffering compensation lump sum. Anyone know how long it takes to receive it?