Calculate settlements

To calculate the settlement A lump sum payment that replaces an injured worker's right to ongoing weekly compensation. amount use the following formula using the applicable settlement table:

A x C where

  • A is the net weekly compensation rate
  • C is the number in Column 3 opposite the number in Column 1 corresponding to the worker’s age in years on their next birthday following the date on which the Agent received the worker’s EOI Expression of Interest.

See: Settlement table - ICRP

Note: If the worker is not receiving weekly compensation because of receiving a superannuation or retirement benefit lump sum, the date from which the worker’s next birthday is calculated is the day after the preclusion expires.

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