For the benefit of veterans, the US congress has confirmed the fact that the VA benefits will be boosted in the year 2025. This revised made VA benefits parallel to Social Security adjustments and thus allowed the veterans to afford additional income for the rising costs.
A New COLA for Veterans
Roadmap The COLA has become one of the most significant issues for Social Security beneficiaries, and now it is came to Veterans. Newest law makes sure that VA benefits will rise with Social security payments.
As over 7 million veterans and military retirees are to be affected by this change, this attempt is supposed to help those who have devoted their lives for the country.
Recently, the House of Representatives and the Senate completed a bill with a unanimous vote and the Biden administration should be able to sign it shortly. This bill has impact on many different types of VA assistance programs such as the disability compensation and clothing allowance.
The following steps will therefore be relevant in preparing for and maintaining financial stability for veterans:
The purpose of this new legislation therefore is to enthrone economic stability for veterans. The bill is sponsored by Representative Morgan Lutrell, who said that any legislation adopted should guarantee that veterans get what they are entitled to for their sacrifices. It is especially important for disabled veterans since it helps them stay at a good quality level.
Last year COLA increase was 3.2 percent while in 2023 the adjustment was the highest in four decades at 8.7 percent. With new predictions leaving forecasts predicting a new 2.4% for 2025 it is important for veterans to know how such changes are likely affect their benefits.
Current VA Benefits Overview
- 10% disability: $171.23
- 20% disability: $338.49
- 30% disability: $524.31
- 40% disability: $755.28
- 50% disability: $1,075.16
- 60% disability: $1,361.88
- 70% disability: $1,716.28
- 80% disability: $1,995.01
- 90% disability: $2,241.91
- 100% disability: $3,737.85
Schedule of Payments of VA Benefits
- October: Payments on November 1
- November: Payments on November 29
- December: Payments on December 31
