VA Cost of Living Increase: Congress Passes Bill Tying VA COLA to Social Security COLA for 2017
This week, a bill pending for months finally passed which would tie the Cost of Living Adjustment (COLA) for Veterans benefits to the amount of the increase is approved for Social Security benefits in 2017. VA benefits do not have an automatic cost of living increase each year. Instead, the law requires Congress to handle VA COLA’s independently. Pegging the VA COLA to Social Security’s COLA is not automatically done, but many veterans groups have pushed Congress to make the process automatic.
The amount off the COLA has not yet been determined. The government will assess how much of an increase – if one is given at all – at the end of 2016.