Disabled veterans who receive disability pension payments for their service-related impairments and health conditions will see a 3.6 percent increase in their monthly payments beginning in January 2012. The increase in their compensation is due to a cost of living adjustment (COLA) – an increase in pay based on the rising cost of goods and services across the country, such as food, clothing, and transportation.
The last COLA increase took place in 2008. Since then, the weak economy and stalled inflation rates have meant that the cost of living in America froze until this year. Social Security disability benefits will also see the same COLA increase this year.
The VA cost of living increase in 2012 will affect disabled veterans, their families, and the survivors of deceased veterans. A veteran with a ten percent disability rating will now receive $127 per month, while a veteran with a 100 percent disability rating will receive $2,769 per month.
The Department of Veterans’ Affairs encourages all veterans to review their benefits and their COLA increases online.
If you are a veteran with a service-related disability and believe you deserve benefits, contact a Texas veterans’ disability lawyer today for assistance. Call Morgan & Weisbrod today at 800-800-6353.