The linked Navy Times Article describes the effects of President Obama signing into law the cost of living adjustment (COLA) bill for veteran benefits. If you are receiving disability compensation, pension, or survivor benefits from the Department of Veterans Affairs (VA), you will receive a 1.7% increase in the amount of benefits, effective December 1, 2012. However, veterans will not see the increase until the January 2013 benefits check.
On the negative side of the ledger, the linked McClachy Newspapers Article described how the VA’s average time for processing an original claim for disability compensation increased almost 40%. In fiscal year 2012, the average days to complete a pension or disability claim rose to 262 days. The article comes on the heals of the November 15, 2012 VA Performance and Accountability Report which fully documents the “backlog” involving approximately 900,000 pending VA claims.
If you have a VA claim for disability compensation or pension pending, please do not hesitate to contact me for a free consultation at sdirector@FRE-L.com or (732) 382-6070.