Veterans receiving VA disability compensation will see a 3.2% increase in their monthly checks in 2024.
This increase, which will go into effect in January, will apply to over 5.4 million veterans who receive VA disability benefits, as well as nearly half a million surviving spouses and dependents receiving Dependency and Indemnity Compensation (DIC).
The increase is significantly lower than last year’s historical jump of 8.7%, yet higher than in 2020 and 2021, when disability benefits increased less than 2%. Because of the Veterans’ Compensation Cost-of-Living Adjustment Act of 2023, signed by President Biden on June 14, the VA COLA is equal to the one applied to Social Security benefits. This means with the announcement of a 3.2% raise in Social Security benefits, we now know there will be an equivalent 3.2% increase in VA disability benefits.
2024 VA disability compensation payments
Here are the 2024 disability compensation rates for a veteran with no dependents. Monthly compensation is higher for veterans with one or more dependents.
|VA Rating||2024 Monthly Compensation (Veteran with no dependents)||Monthly amount increase|
|100% (or TDIU)||$3,737.85||$115.90|
For spouses and children receiving DIC benefits, the new standard monthly payment is expected to increase from $1,562.74 in 2023 to $1,612.75 in 2024.
Monthly military pension payments are expected to increase by $32 for every $1,000 of retirement pension.
Veterans and surviving family members should see an increase in their monthly payments in their January 2024 check. If you do not see a difference in the amount, contact the Veterans Benefits Administration.
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If you have questions about applying for VA disability benefits or about appealing a VA decision, call Woods and Woods. Your claim evaluation is free, and if you need to appeal, our VA-accredited attorneys only charge if we win your appeal.
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