The COLA increase for VA benefits will apply to disability payments, clothing allowances and dependency and indemnity compensation for surviving spouses and children,accordingto Military.com. Based on the Senior Citizens League's forecast, those VA benefits would increase by 2.5% next year. What is...
Annual COLA increases are larger in years with higher inflation. Conversely, there was no COLA increase in 2010, 2011, or 2016 because of low inflation. Note:While COLA affects things like VA disability pay, Military retirement pay, etc. It doesnotimpact Military Pay and Drill Pay for Reserve...
Military retirement pay and various VA benefits receive a yearly COLA (Cost-of-Living Adjustment) increase to keep pace with inflation. The COLA for 2024 is 3.2%, and for 2025, it will be 2.5%. COLA additionally impacts Social Security checks, disability compensation, and other pensions/benefit...