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Veterans and Social Security Benefits COLA to be the Same in 2021

For veterans and other individuals receiving benefits, any increase in funds is welcomed. The benefits are often what allows the individual to keep their quality of life up during difficult times where they may not be able to work.

Cost of living increases are common for those receiving benefits, including veterans and those receiving social security disability. Any increase relies on a series of factors with the cost of living in the United States.

Veterans and Social Security Disability Benefits in 2021

For 2021, it is expected that veterans and social security disability benefits will be receiving the same cost of living increase, which is currently estimated to be 1.3 percent. The United States Senate passed legislation Thursday to link veterans benefits and social security, and it will be sent to the White House to become law.

There have been recent efforts to link the two benefits together, but this would be the first year that it would happen. It is expected to be signed into law without issue, but the matter of tying the two together is new and therefore gains a little more visibility.

Even so, the measure should be final soon, as was clear from Senate Veterans Affairs Committee Ranking Member Jon Tester.

“Our men and women in uniform deserve to have Washington in their corner working tirelessly to ensure they can keep up with the rising costs of housing, utilities, and food when they return to civilian life,” Tester said. “Today’s passage is a clear sign that we’re making good on our promises to those who’ve served.”

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