News: Major Raises on the Way for Military Members, Retirees, and Veterans!

Major pay raises will be coming into effect in 2023 for both active-duty military members and Veterans. 

The largest military pay raise in decades is on the way as part of the annual defense authorization bill which was approved by Congress this month. 

Under the plan, active-duty troops and drilling Guard and reserve members will receive a 4.6% pay raise, which is the largest bump in the last 20 years. 

For reference, the 2022 military pay raise sat at 2.7% — this being almost a full 2.0% higher. 

This expected pay raise, which would represent $1,300 more over the course of the year for many junior troops and $2,500 for senior enlisted and junior officers will begin in January and was included as part of the 2023 National Defense Authorization Act which was signed into law by President Biden last week. 

The 2023 raise is accompanied by a more than 11% bump to Basic Allowance for Subsistence rates, an allotment received by active-duty troops who live outside the barracks. 

In 2023, the monthly BAS payment will be $311.68 for officers, which will be a step up from the $280.29 they received previously, while enlisted members will see their BAS increase from $406.98 to $452.56. 

Under the plan, active-duty troops and drilling Guard and reserve members will receive a 4.6% pay raise, the largest bump in 20 years.

Unfortunately, while this news does sound great, the pay raises are not keeping up with the growing pace of inflation, which sat at almost 8.0% in October. 

The NDAA does not include any additional inflation-specific bonus, however, a measure that extends the qualification for the Pentagon’s new Basic Needs Allowance (BNA) to troops with a household income at 150% of the poverty line was included. 

This 4.6% active-duty, Guard, and reserve pay raise joins an 8.7% cost of living adjustment (COLA) given to military retirees and Veterans who receive disability checks from the Department of Veterans Affairs. 

That boost is the highest since 1981 – retirees and Veterans alike saw a 5.9% increase in 2022 which was up from the 1.3% increase they saw the previous year. 

The annual adjustment has averaged out to roughly 1.9% over the last decade. 

This increase means that in 2023, military retirees and Veterans who received disability payments will be seeing an extra $87 for each $1,000 of military retirement pension they receive on a monthly basis. 

Moreover, Survivor Benefit Plan payments will increase by the same amount. 

Military retirees who entered military service on or after August 1st, 1986, and opted for the Career Status Bonus (CSB/Redux Retirement Plan) will have any COLA increases reduced by 1%. 

They will see a smaller increase of $77 compared to $87, per $1,000 received in 2023. 

Follow Us On Social Media!

How Much Does It Cost To Hire You?

One Of Our Most Frequently Asked Questions.
It does not cost you anything to hire our Veterans Benefits Law Firm as your attorneys. Our firm works on a contingency fee basis, which means you do not owe us anything unless we win you an award. Our firm charges 20%, which is deducted by the VA from your lump sum payment for retroactive benefits.
Click Here To Sign Up Now!

Schedule a Free Consultation Today!

If you, or someone you love, is having a tough time with the Department of Veterans Affairs and claiming the benefits needed to sustain a comfortable quality of life, do not wait another minute – contact us today! We are always available by phone at (866) 866-VETS.  

Our firm works on contingency, so there are no fees whatsoever unless we win your claim for benefits.  

We are accredited to stand for you anywhere within the United States, so even if you cannot make it to one of our many offices, we can still help you along the way. 

Once We've Received Your Submission, We Will Reach Out To You. Thanks!

Recent Blog Posts

View Our Office Locations Below!

All communication with the Department of Veterans Affairs can be conducted remotely; personal appearances are not required. 

Our law firm is accredited by the Department of Veterans Affairs to handle appeals and we can do so anywhere across the United States. 

Furthermore, our clients do not need to go to a physical location and visit an office to receive our help. If there are any medical visits that are applicable to your claim, you can be seen at a facility that is close to your home. So, no matter where you are, if you need help, we’re here to fight for you the same way that you bravely fought to protect us. 

Call us now! (866) 866-VETS.