Your money, your decision
It is a personal decision how you use the money.
There is no single “right way” to use your compensation.
Below are some things people consider.
The Claims Period is now open. Claimants have until July 27, 2028 to submit a Claim for compensation.
Financial Information and Resources
Your compensation payment
If you are eligible under the Federal Indian Hospitals Settlement, you may receive a compensation payment.
Learn about compensation payments under the Federal Indian Hospitals Settlement, including payment options, taxes, benefits, and ways to manage your money safely.
Payments range from $10,000 to $200,000, depending on the abuse experienced while admitted to a Federal Indian Hospital.
Take your time
You do not need to make decisions right away.
You might choose to wait before making large purchases or financial decisions. Taking time can help you think about what matters most to you and your family.
If you want support, you may wish to speak with someone you trust, such as:
- A family member
- A trusted community member or Elder
- A financial advisor
- A lawyer
Paying for immediate needs
You may decide to use your compensation to help with everyday needs, such as:
- Housing repairs or improvements
- Transportation
- Paying down debt
- Health or wellness needs
- Helping family members
Every person’s situation is different.
Saving some of the money
You might choose to save some of your compensation. This might include:
- Putting money into savings
- Setting aside funds for emergencies
- Planning for later years
A banking professional or financial advisor may be able to explain options for saving or investing.
Helping family or community
You may choose to support family members or community causes that matter to you. Examples could include:
- Helping children or grandchildren
- Supporting community activities
- Contributing to cultural or community programs
This is a personal choice.
Taxes and benefits
Compensation paid under the Settlement is not considered income.
The Government of Canada will make best efforts to work with provinces, territories, and federal departments so that compensation payments do not affect social benefits or social assistance. This includes federal programs such as Old Age Security or the Canada Pension Plan.
If you receive benefits and have questions about your situation, a financial advisor or legal professional may be able to provide guidance.
Learn more about how compensation affects taxes and benefits.
Protecting yourself and your money
Unfortunately, there are people who could try to take advantage of others after compensation payments are announced.
It may help to:
- Take time before signing documents
- Ask questions if something feels unclear
- Speak with a trusted person before agreeing to financial offers
You do not have to work with anyone who contacts you about your compensation.
Getting help
If you have questions about the Settlement or the Claims Process, you can contact the Info Line at 1-888-592-9101.
Looking for more?
The links below lead to external resources, including some created specifically for Indigenous Peoples, to help you understand and manage your banking and financial habits.
Canada Deposit Insurance Corporation
Canada Deposit Insurance Corporation’s “What’s covered” page
how your money is protected if your bank or financial institution fails.
Government of Canada – FCAC
Canada Revenue Agency’s Tax-Free Savings Account (TFSA) page
how a TFSA can help you save money tax-free for your goals, both short- and long-term.
Canada Revenue Agency’s Registered Retirement Savings Plan (RRSP) page
how contributing to an RRSP can help you save for the future while reducing the income tax you pay today.
Government of Canada’s Registered Education Savings Plan (RESP) page
how an RESP can help you save for a child’s education and access government grants to grow your savings.
Financial Consumer Agency of Canada’s Managing your Money page
practical information on banking, saving, borrowing and managing money.
Financial Consumer Agency of Canada’s Financial Basics workshop materials
free videos and handbooks that teach banking, budgeting, and saving skills.
short, animated videos with tips on budgeting, banking, credit and financial planning.
Financial Consumer Agency of Canada’s “Income Tax Refund” brochure
(external download) – tips on how to safely deposit and manage a tax refund, choose a banking option and plan how to use your money wisely.
