Sunita Somvanshi
The U.S. Congress has passed legislation ensuring veterans will receive a cost-of-living adjustment (COLA) to their benefits in 2025, aligning with Social Security rates. This move aims to help veterans cope with rising living expenses.
Following are a few key details surrounding this development
- The Senate approved the COLA bill by voice vote and President Biden is expected to sign it into law.
- The increase will apply to disability benefits, clothing allowances, and dependency and indemnity compensation.
Sen. Jon Tester, D-Mont., Chairman of the Senate Veterans Affairs Committee, stated, “At a time when folks are struggling with rising costs, from housing to groceries, veterans deserve absolute certainty when it comes to providing for their families.”
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The exact COLA rate for 2025 will be announced on October 10, 2024. However, the Senior Citizens League projects a 2.5% increase. While lower than recent years, this aligns with historical norms. 2023 saw an 8.7% increase and 2024 had a 3.2% increase. There was no increase in 2010, 2011, and 2016.
Sen. Jerry Moran, R-Kan., ranking member of the Senate Veterans Affairs Committee, emphasized, “Making certain earned benefits stay on pace with rising prices will help provide veterans and their families with much-needed peace of mind.”
Current VA Disability Compensation Rates (2024):
- 10% disability: $171.23 per month
- 50% disability: $1,075.16 per month
- 100% disability: $3,737.85 per month
The Department of Veterans Affairs (DVA) confirms that benefit amounts will increase proportionally to Social Security benefits, effective December 1, 2024.
VA Payment Schedule:
- October payment: Friday, November 1
- November payment: Friday, November 29
- December payment: Tuesday, December 31
This annual COLA adjustment, while routine, requires formal congressional approval each year. The bipartisan support for this measure underscores its importance to veterans and their families.
For more information on VA benefits and eligibility, veterans can visit the official VA website or consult with a Veterans Service Officer.
