{"id":76360,"date":"2024-10-10T13:32:32","date_gmt":"2024-10-10T13:32:32","guid":{"rendered":"https:\/\/one.sightlinemg.com\/airforcetimes\/uncategorized\/2024\/10\/10\/heres-what-veterans-will-get-for-a-cost-of-living-increase-next-year\/"},"modified":"2026-08-08T16:06:55","modified_gmt":"2026-08-08T16:06:55","slug":"heres-what-veterans-will-get-for-a-cost-of-living-increase-next-year","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/airforcetimes\/veterans\/2024\/10\/10\/heres-what-veterans-will-get-for-a-cost-of-living-increase-next-year\/","title":{"rendered":"Here\u2019s what veterans will get for a cost-of-living increase next year"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">Social Security officials on Thursday announced plans for a <a href=\"https:\/\/www.ssa.gov\/news\/press\/releases\/2024\/#2024-10-10\" target=\"_blank\">2.5% cost-of-living increase <\/a>in benefits next year for veterans, the <a href=\"https:\/\/www.militarytimes.com\/veterans\/2024\/08\/19\/vets-may-see-only-a-small-cost-of-living-boost-in-benefits-next-year\/\" target=\"_blank\">lowest mark for the adjustment<\/a> since before the start of the COVID-19 pandemic.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The agency\u2019s decision, based on federal estimates of private-sector wages, sets the rate of increase not only for Social Security beneficiaries but also<a href=\"https:\/\/www.militarytimes.com\/veterans\/2024\/09\/26\/vets-benefits-to-mirror-social-security-cost-of-living-boost\/\" target=\"_blank\"> military retirees and individuals receiving veterans benefits.<\/a> The increase will go into effect in January.<\/p>\n\n\n\n<iframe width=\"315\" height=\"560\"\nsrc=\"https:\/\/www.youtube.com\/embed\/5_uYmkB9wfw\"\ntitle=\"YouTube video player\"\nframeborder=\"0\"\nallow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\"\nallowfullscreen><\/iframe>\n\n\n\n<p class=\"wp-block-paragraph\">In a statement, Commissioner of Social Security Martin O\u2019Malley said the cost-of-living increase will \u201chelp tens of millions of people keep up with expenses even as inflation has started to cool.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">But the 2.5% rate is well below what retirees and beneficiaries have enjoyed in recent years. The mark was 3.2% in 2023, 8.7% in 2022 and 5.9% in 2021.<\/p>\n\n\n\t<aside class=\"smg-interstitial-link wp-block-smg-interstitial-link\">\n\t\t<a href=\"https:\/\/one.sightlinemg.com\/militarytimes\/veterans\/2024\/09\/26\/vets-benefits-to-mirror-social-security-cost-of-living-boost\/\" class=\"smg-interstitial-link__inner\">\n\t\t\t\t\t\t\t<div class=\"smg-interstitial-link__media\">\n\t\t\t\t\t<img loading=\"lazy\" decoding=\"async\" width=\"300\" height=\"192\" src=\"https:\/\/one.sightlinemg.com\/wp-content\/uploads\/2026\/08\/GettyImages-485008004.jpg.jpg?w=300\" class=\"smg-interstitial-link__image wp-post-image\" alt=\"\" \/>\t\t\t\t<\/div>\n\t\t\t\t\t\t<div class=\"smg-interstitial-link__content\">\n\t\t\t\t<span class=\"smg-interstitial-link__kicker\">Related<\/span>\n\t\t\t\t<h3 class=\"smg-interstitial-link__title\">Vets benefits to mirror Social Security cost-of-living boost<\/h3>\n\t\t\t\t\t\t\t\t\t<p class=\"smg-interstitial-link__excerpt\">Veterans will learn on Oct. 10 what their cost-of-living increase for benefits payouts will be in 2025.<\/p>\n\t\t\t\t\t\t\t<\/div>\n\t\t<\/a>\n\t<\/aside>\n\t\n\n\n<p class=\"wp-block-paragraph\">For a veteran receiving $1,500 a month in disability payouts, a cost-of-living adjustment of 2.6% would mean an extra $38 a month. In 2023, the increase meant a boost of around $48 a month for that same veteran.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">About 5 million veterans and 2 million military retirees receive benefits checks each month through the Department of Veterans Affairs. Last month, lawmakers passed legislation tying the increase in those benefits to the Social Security rate, an annual requirement that is typically non-controversial.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The cost-of-living increase would apply to payouts for disability compensation, clothing allowances and dependency and indemnity benefits, as well as some other VA assistance programs.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">About 68 million Americans receive Social Security benefits. Agency officials said the average beneficiary will receive a boost of about $50 a month under the adjustment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Social Security staffers will begin notifying individuals about the changes to their benefits by mail starting in early December.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The boost in benefits payments is the smallest since 2020, before the COVID-19 pandemic.<\/p>\n","protected":false},"author":7,"featured_media":108395,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_canonical":"","_acf":"","_yoast_wpseo_primary_category":21,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_smg_distribution_targets":[]},"categories":[101,12,24,16,26,65,21],"tags":[],"coauthors":[3328],"class_list":["post-76360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news-roundup","category-education-transition","category-home","category-news","category-newsletters","category-pentagon-congress","category-veterans"],"acf":{"subheadline":"","legacy_arc_id":"ZHW5XD42JJHPLGCFIFCJD6DMMU","arc_canonical_url":"\/veterans\/2024\/10\/10\/heres-what-veterans-will-get-for-a-cost-of-living-increase-next-year\/","remove_feature_photo":false,"is_sponsored":false,"subtype":"","redirect_url":"","disable_inline_ads":false,"native_logo_pretext":"Presented 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