Veterans with 60% disability rating to receive 2.5% COLA increase starting December 2024

Veterans with a 60% disability rating will see a 2.5% cost-of-living adjustment (COLA) starting December 1, 2024. Monthly payments will increase to about $1,395.93 for those without dependents and $1,424.05 for those with a spouse. The new rates reflect a boost in benefits due to the COLA announced by the Social Security Administration. Additional amounts may apply for veterans with children or other dependents. Veterans can determine their total compensation based on their disability rating and dependents. To apply for benefits, they need to submit the necessary documentation through the VA's online portal or by mail.