army retirement pay increase 2023 - Search
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  2. $87
    • According to 4 sources
    For 2023, retired military members will see a $87 increase for each $1,000 of military retirement pension they receive each month.
    Military retirees and disabled veterans will see their monthly checks increase by 8.7% effective January 1, 2023, thanks to an annual adjustment to the federal Cost of Living Allowance (COLA) due to inflation; the Social Security Administration announced on Thursday, October 13, 2022.
    Military retirees and disabled veterans will receive an 8.7% COLA increase and disability increase in 2023, the highest since 1981. This is great news for retirees to manage rising living costs.
    The 2023 military retiree pay raise will provide an increase of 8.7% for disabled Veterans and military retirees. This increase is a notable departure from the average of the last decade of 1.9% and even more than the 5.9% increase of 2022.
     
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