Can anyone tell me how the rate increase for VA Compensation and Pension is figured every year? Does it go along with the rate of inflation? I would really appreciate it if someone can at the very least, point me in the right direction so I can learn more about this. I have tried to figure this out but I cannot. Also, I just noticed that the GI Bill increase for next year is a 20% increase! Would it be safe to assume the same for us? Thanks!
Annual increases in military and federal civilian retired pay and military survivor benefits and disability are automatic, linked by law to the increase in Social Security benefits. All the benefits are tied to a comparison of consumer prices from the last three months of each fiscal year, which ends on 30 SEP, to the same period of the previous fiscal year. Veterans' disability benefits, veterans' dependency and indemnity compensation for survivors and veterans' pensions do not automatically increase. But Congress passed and President Bush signed a bill guaranteeing they would get the same 1 DEC increase. Military pay raises also are approved only by an act of Congress, but that is not the reason why the 1 JAN basic pay increase will be less than the retirement adjustment. Military and federal civilian pay raises are computed by law to keep pace with private-sector wage growth, not with inflation. BTW never figure any increase in benies until it passes.
Howdy, Try this link........ http://vets.yuku.com/forums/84 This will help. The forum will give you alot of info in dealing with the VA and filing claims. Paul
