People who receive Social Security benefits are entitled to a Cost-of-Living Adjustment, or COLA, to their benefits when there is a rise in the Consumer Price Index. The purpose of the adjustment is to make certain that benefits keep up with the pace of inflation. Although Social Security beneficiaries did not see a COLA for 2011 or 2010, if there is an increase in the Consumer Price Index, they could see an increase in their benefits for 2012.
Unfortunately, the same cannot be said for veterans who receive disabled veterans' benefits. Presently, veteran's benefits do not automatically increase to keep up with the consumer price index. However, several key lawmakers in the U.S. Senate are introducing legislation that could change that.
Continue reading West Virginia Senator backs increase of veterans' benefits
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