New Rates for Compensation
& Pension Benefits in 2014 Increase
– Veterans, their families and survivors receiving disability compensation and pension benefits from the Department
of Veterans Affairs will receive a 1.5 percent cost-of-living increase in their monthly payments beginning Jan. 1, 2014.
pleased there will be another cost-of-living increase for Veterans, their families and their survivors,” said Secretary
of Veterans Affairs Eric K. Shinseki. “The increase expresses in a tangible way our Nation’s gratitude for the
sacrifices made by our service-disabled and wartime Veterans.”
For the first time, payments will not be rounded down to the nearest dollar. Until this year,
that was required by law. Veterans and survivors will see additional cents included in their monthly compensation benefit
For Veterans without dependents, the new compensation rates will range from $130.94 monthly for a
disability rated at 10 percent to $2,858.24 monthly for 100 percent.
The COLA increase also applies to disability
and death pension recipients, survivors receiving dependency and indemnity compensation, disabled Veterans receiving automobile
and clothing allowances, and other benefits.
Under federal law, cost-of-living adjustments for VA’s compensation
and pension must match those for Social Security benefits. The last adjustment was in January 2013 when the Social Security
benefits rate increased 1.7 percent.
In fiscal year 2013, VA provided over $59 billion in compensation benefits to nearly
4 million Veterans and survivors, and over $5 billion in pension benefits to more than 515,000 Veterans and survivors.
For Veterans and separating Servicemembers who plan to file an electronic
disability claim, VA urges them to use the joint DoD/VA online portal, eBenefits.
Registered eBenefits users with a premium account
can file a claim online, track the status, and access a variety of other benefits, including pension, education, health care,
home loan eligibility, and vocational rehabilitation and employment programs.
For more information about VA benefits, call 1-800-827-1000.
See your VSO for details or call 800-827-1000 today.