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From Chuck Weber, your Veteran Service Officer... |
2021 COLA INCREASES |
Each year the federal government reviews increases
in the cost of living by looking at changes in the consumer price index.
An increase for Social Security is protected by law, but an increase for
veterans’ benefits is not fixed by law and has to be approved each year. GOOD NEWS – The anticipated COLA increase for
Social Security is expected to be between 6.0% and 6.1%. MORE GOOD
NEWS – the Congress has included in this year’s National Defense
Authorization Act (NDAA) a provision that veterans’ benefits COLA will
equal Social Security COLA. These increases will be finalized and approved
later in October and will take effect with payments made starting in
December. This will help take a bite out of inflation.
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