Each year the Presidential of the United States decides whether there will be a cost of living adjustment (COLA) to Social Security benefits. The Veterans Administration then mirrors the COLA for Improved Pension benefits. For several years there wasn’t a COLA increase. For 2015, the increase is 1.7%.
For VA benefits, the increase begins on December 1st of each year. Yet, the Veterans Administration does not formally “publish” the new rates until well into the first quarter of the next year. When published, you can find the rates here for Veterans: http://www.benefits.va.gov/PENSION/current_rates_veteran_pen.asp and here for Widows of Veterans: http://www.benefits.va.gov/PENSION/current_rates_survivor_pen.asp.
Even though we won’t know the formal numbers for a few more months, we must still be able to advise our clients on what the “possible” numbers will be. Therefore, I have taken the annual pension amounts and multiplied by 1.7%, and then rounded down, like the VA to get the Unofficial VA Pension Rates as detailed below, for your convenience:
2015 “Unofficial” VA Maximum Annual Pension Rates (1.7% increase from 2014)
Medical deduction 5% = $643 (single) / $842 (married)
Veteran Annual Monthly
Improved Pension
n Single 12,867 1,072
n Married 16,851 1,404
Housebound
n Single 15,725 1,310
n Married 19,710 1,642
Aid and Attendance
n Single 21,466 1,788
n Married 25,447 2,120
Two Veterans Married to Each Other
Improved Pension 16,851 1,404
Housebound
n One 19,710 1,642
n Both 22,565 1,880
Aid and Attendance
n One 25,447 2,120
n One A/A and one H/B 28,299 2,358
n Both A/A 34,049 2,837
Widows of Veterans (no dependents)
Medical deduction 5% = $431
Death Pension 8,629 719
Housebound 10,547 878
Aid and Attendance 13,794 1,149
For timely information about VA Pension Benefits, become a subscriber to Lawyers for Wartime Veterans and join us for our monthly webinar trainings.
Victoria L. Collier, Certified Elder Law Attorney, Fellow of the National Academy of Elder Law Attorneys, Co-Founder, Lawyers with Purpose, LLC, and author of 47 Secret Veterans’ Benefits for Seniors…Benefits You Have Earned but Don’t Know About.