Department of Virginia

Vets to Receive COLA Increase

Posted at 05:21 PM on Monday, December 31, 2007 by Virginia A/Q

(via VA press release)
WASHINGTON (December 31, 2007) - Millions of veterans and eligible
family members will see their disability compensation, pension, and
survivors' benefits increased as the Department of Veterans Affairs (VA)
provides an annual cost-of-living increase for key benefits.

"This increase ensures that those veterans who have earned this benefit
for incurring a disability in defense of our country receive payments
that keep pace with today's cost of living," said Secretary of Veterans
Affairs Dr. James B. Peake. "VA is committed to the needs of our
veterans and their families. We owe America's defenders no less."

A recent law signed by President Bush provides a 2.3 percent increase in
disability compensation and survivors' benefits. Eligible veterans and
family members will see this increase starting in their January 2008
checks.

Under the veterans' disability compensation program, tax-free payments
will generally range from $117 to $2,527 per month depending on the
degree of disability. Special payments up to $7,232 per month apply to
the most severely injured veterans.

Pension disability benefits will also be increased by the same
percentage and effective on the same date. The maximum annual rate for
permanently and totally disabled veterans or veterans over age 65 can
range from $11,181 to $18,654, based on household income and whether
veterans are in need of help with activities for daily living.

This increase also applies to survivors of veterans who died in service
or from a service-connected disability. Dependency and indemnity
compensation (DIC) survivors' benefit payments can range from $1,091 to
$2,499 per month.

Survivors of wartime veterans receiving death pension are also entitled
to an increase. The maximum annual payment rate for a surviving spouse
can range from $7,498 to $11,985. Benefits under this program are
intended to bring an eligible spouse's income to a level established by
law.

Under each benefit program, additional allowances may be payable for
helpless, minor or school age children.