VA Announces Estimated Veterans’ Disability Payment Change for 2024
The U.S. Department of Veterans Affairs (VA) recently announced the estimated Veterans’ Disability Payment rate for 2024. According to recent projections, veterans can expect to see an increase in benefits, but the adjustment might not be quite what they need.
This particular benefit is based on projected COLA. As we know, the annual Cost of Living Adjustment does not go far enough for retirees who rely on Social Security. It seems that many veterans are saying similar things about the projected disability increase.
The estimated disability pay rates for 2024 are expected to have a year-over-year increase of 2.8 to 3.1 percent based on the latest COLA estimates. New rates are set to take effect on December 1, 2023.
The number is not final, as the new COLA rate will not be announced until October 13, 2023. After the COLA announcement, we will have a better idea of both retirement benefits and Veterans’ Disability Payments for 2024. Make sure you follow us on Facebook and Twitter for the latest updates.
We believe that passing a bill we call The Greatest Generation Benefits Act will help many retirees who are struggling with low retirement benefits. Learn more about this proposed legislation and sign our petition to Congress here.
