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Military Retirees, Disabled Veterans to See Largest Pay Raise in Decades

Military retirees and veterans receiving disability payments from the Department of Veterans Affairs (VA) will see their paychecks go up by 5.9% for 2022, triggered by inflation and an annual adjustment to the federal Cost of Living Allowance (COLA).

That annual adjustment has averaged around 1.5% for the last 10 years.

The adjustment rate was announced Wednesday by the Social Security Administration. The VA is required by law to alter disability payment rates by that amount. While military retirement is not legally required to follow suit, the change is traditionally the same.

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