Starting in December, military retirees and veterans will see a 1.6 percent raise in their cost-of-living benefits payouts.
According to an article published by Military Times, “Officials from the Social Security Administration announced the COLA boost [last week] Thursday, based on inflation and consumer spending calculations over the last few months. The increase will go into effect for about 69 million Social Security beneficiaries in coming months, most in January 2020.”
Because of varying payroll schedules, some veterans entitled to payouts will see them arrive a month sooner. However, the boost is likely to agitate many recipients due to the drop from last year’s COLA calculation which was 2.8%. For married, fully disabled veterans the new boost will be about $49 a month. This boost is well below the expected 3.1 percent pay raise for military members in 2020.
To learn more about this important news for veterans, click HERE.
Relevant pages: Veterans Disability; Social Security Disability