Lump sum vs monthly payment

Unknown soldier that is correct and as marmech said COLA gets added to it every year and it is for life until you die. If you died let's say 4 months into receiving the pension they would pay out what would have been the lump sum minus the 4 months of money you got to your NOK.

don't forget to add COLA to year over year

Teager wrote:Your pension for life is for life they do not divide up the lump sum amount over an X amount of time.

Rates can be found here:

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

Okay I found a chart, so you’re telling me that if a veteran , regardless of age received a 5% disability, they would receive about $ 57.50 forever under the monthly payment program.?

Your pension for life is for life they do not divide up the lump sum amount over an X amount of time.

Rates can be found here:

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

I thought I was getting a grip on this PFL thing, but l just read a post on another site that threw me for a loop. I was under the impression that any veteran with an injury that is granted in their favour has the option of either a monthly payment or a lump sum...but l thought that regardless of which you choose, once the monthly payment hit the amount of the lump sum the payment would just end. I.e. if a veteran was entitled to $120000 and he was 43 , he could ask for it all right now and eventually be given his $120000.however if he opted for monthly payments they would be stretched over however long it took that veteran to reach the age of 83. So by that theory,if a vet was 43 he had another 40 years to collect his disability payment. $120000 / 40 years = $3000 a year, or monthly payments of $250. But in the post I read it said those monthly payments actually continue til the day a veteran dies even if the veteran goes past the age of 83. So by taking the monthly payment if a veteran ended up living to 93, he would keep getting that $3000 a year for another decade, basically another $30000,. Is this how it works, .? I’m not really understanding the advantage in taking a monthly sum if a veteran is younger as some have suggested, if a vet was awarded $120000 and they were only 23 instead of 43, wouldn’t that just mean $120000/60 years, or $2000 a year, or $166.66 a month, in just means a lower monthly payment than the 43 year old, what am I missing.?