The 2024 VA Disability Rates
Wondering what your disability pay will be in 2024? The official COLA Increase that will increase the 2024 VA Disability Rates is set at 3.2%!
What is the COLA?
The Cost-Of-Living Adjustment (COLA) is a figure determined by the Social Security Administration (SSA). The COLA reflects the increase in the costs of goods and services since the previous year.
The SSA uses COLA to adjust beneficiary payments to ensure that people are receiving the amounts they need to maintain their standard of living in the current economy.
Similarly, the VA uses the COLA to adjust their pension and disability payments to ensure that veterans are able to meet their economic needs.
3.2% COLA increase for 2024!
Effective today, disabled veterans will see a 3.2% increase in their VA disability pay starting in January 2024.
Sadly, this year won’t sport such a large increase. However, 3.2% is still significantly above the average COLA of 2%.
To find out what your 2024 VA Disability Rates will be, check out our VA Disability Chart and the Special Monthly Compensation Rates Table. These new amounts will automatically appear in your January payments.