Retired military pay, VA disability pay, federal retirement and Social Security payment increases coming in 2024.
Military retirees and disabled veterans will see their monthly checks increase by 3.2% for 2024, thanks to the annual Cost of Living Adjustment (COLA) due to inflation.
While 3.2% may look low compared to the 2022 (5.9%) and 2023 (8.7%) adjustments, it’s still above the average of 2.6% for the prior 20 years.
The Social Security Administration announced the COLA increase Oct. 12. Most government disability and retirement payments are required by law to increase annually by the same amount.
Retirement Pay Increase
For 2024, retired military members will see a $32 increase for each $1,000 of military retirement pension they receive each month.
Retirees who entered military service on or after Aug. 1, 1986, and opted for the Career Status Bonus (CSB/Redux retirement plan) will have any COLA increases reduced by a percentage point, so they will see a smaller increase of $22 per $1,000 in 2024.
Survivors receiving Survivor Benefit Plan payments will see their payments increase by the same amount as retirees.
Fire up the money presses. The more cash they make, the easier it is to give away.
Oh, good, now I can buy a whole tank of gas every 45 days.
Gotta use all the money on foreign countries that hate our guts, so no money left for vets and retirees.
Truly we are in the end times. Our service (over 20 years) of “honorable service” seems to not matter and funding wars by liberals do. Biden and your cronies are of Satan, good luck getting to Heaven.
Thanks to all of us who truly stood for Patriotism.