steven
October 21st, 2008, 02:12 PM
Each year military retirement pay is adjusted to meet the increased cost of living. This Cost-of-Living-Adjustment (COLA) varies from year to year based on the previous year's Consumer Price Index (CPI) (http://www.bls.gov/cpi/cpifaq.htm#Question_1).
2009 Update: The 2009 military retired pay cost-of-living adjustment (COLA) will be 5.8%. This increase, which goes into effect on December 1, 2008, also applies to SBP annuities, Social Security checks, and VA disability and survivor benefits. Retirees will see the increase in their January, 2009 checks.
Note: This annual Cost-of-Living-Adjustment is NOT in anyway related to the annual military pay raise for active duty and reserve servicemembers. In fact, this years COLA increase is larger than the 2009 military pay raise of 3.9%.
All retirees who retired before January 1, 2008 will receive the 5.8 percent Cost-of-Living-Adjustment.
http://www.military.com/benefits/military-pay/retired-pay/retired-cola
2009 Update: The 2009 military retired pay cost-of-living adjustment (COLA) will be 5.8%. This increase, which goes into effect on December 1, 2008, also applies to SBP annuities, Social Security checks, and VA disability and survivor benefits. Retirees will see the increase in their January, 2009 checks.
Note: This annual Cost-of-Living-Adjustment is NOT in anyway related to the annual military pay raise for active duty and reserve servicemembers. In fact, this years COLA increase is larger than the 2009 military pay raise of 3.9%.
All retirees who retired before January 1, 2008 will receive the 5.8 percent Cost-of-Living-Adjustment.
http://www.military.com/benefits/military-pay/retired-pay/retired-cola