Wednesday, October 26, 2011

Veterans' Compensation Cost of Living Adjustment Act of 2011

Veterans' Compensation Cost-of-Living Adjustment Act of 2011

Posted in [Veterans Aid & Attendance]

The first cost-of-living adjustment since 2008 has recently been made, bringing a 3.6% increase in benefits.

The cost-of-living adjustments are based on increases in the Consumer Price Index for Urban Wage Earners and Clerical Workers ("CPI-W").  A cost-of-living adjustment effective for December of the current year is equal to the percentage increase (if any) in the average CPI-W for the third quarter of the current year over the average for the third quarter of the last year in which a cost-of-living adjustment became effective.  If there is an increase, it must be rounded to the nearest tenth of one percent.  If there is no increase, or if the rounded increase is zero, there is no cost-of-living adjustment.

The senate unanimously passed S. 864: Veterans' Compensation Cost-of-Living Adjustment Act of 2011, effective on December 1, 2011, for benefits to be payable in January of 2012.  The Act outlined the following pension increases:

Single Veteran: $1,703
Married Veteran: $2,019
Surviving Spouse of a Veteran:                                                                                                                                                                               $1,094