In 2020 military retirees currently receiving benefits from the Department of Veterans Affairs, federal retirees, and social security recipients will see a 1.6% increase in their monthly payments.
According to an article published by Military.com, “The annual Cost Of Living Allowance (COLA) is smaller than the 2.8% increase from last year but in line with the historical increases seen over the last ten years. Each year military retirement pay, Survivor Benefit Plan Annuities, VA Compensation and Pensions, and Social Security benefits are adjusted for the rate of inflation.”
As a result, the average military retirement monthly payment will increase by $38 – $72 a month. Veterans with a 10 percent disability rating disability will see a $2 per month increase, and those with a 100 percent rating will see a $49 a month increase in 2020.
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Relevant pages: Social Security Disability